November 19th, 2013 by Elma Jane
ISIS Electronic Wallet
Available Nationwide Isis Mobile Wallet
Latest version of the Isis Mobile Wallet has been announced. This is now available to consumers for download in the Google Play app store and at thousands of AT&T, T-Mobile and Verizon Wireless retail stores nationwide. Isis Mobile Wallet allows customers to pay at contactless payment terminals, and to save money through special offers and loyalty cards at participating merchants – all from their Isis Ready smartphone.
Today’s Isis Mobile Wallet nationwide launch is a milestone for consumers, merchants and banks. It’s the start of a smarter way to pay.
Together with Isis partners, a seamless mobile commerce experience have been built. Isis pleased to bring the magic and simplicity of the Isis Mobile Wallet to consumers across the U.S.
The redesigned Isis Mobile Wallet features a simplified user interface with a clean, white background and easy-to-navigate toolbars. Starting today, customers with one of the more than 40 Isis Ready smartphones available from AT&T, T-Mobile or Verizon Wireless can receive a free enhanced SIM card from their wireless carrier and download the Isis Mobile Wallet for free from Google Play. Integration with American Express Serve makes it convenient for Isis Mobile Wallet users to load funds to their American Express Serve Account from a U.S. debit or credit card, bank account, or through direct deposit, as well as pay bills online and send money to friends and family using an American Express Serve Account.
Posted in Digital Wallet Privacy, Electronic Payments, Mobile Payments, Near Field Communication, Smartphone, Visa MasterCard American Express Tagged with: American Express, AT&T, banks, bills, carrier, contactless, debit or credit, google, interface, ISIS, loyalty cards, Merchant's, mobile wallet, online, payment terminal, play app, smartphone, T-Mobile, Verizon, wireless
October 1st, 2013 by Elma Jane
As Capital One drops support Isis’ future darkens
Capital One pulling its support points to the challenges that near-field-communications is having with scale as non-NFC mobile wallet initiatives take off, as Isis gears up for a broader launch.
Capital One was one of Isis’ three founding card issuers, and the company’s drop of support as the company prepares for a larger roll-out emphasizes the challenges in gaining scale and momentum for mobile payments. PayPal and Apple’s recently announced their own mobile payment options that also avoid NFC reflect the opportunity that marketers see in services beyond NFC.
“Capital One dropping its support for Isis is significant in what it telegraphs about the problems issuers will continue to face with the wallet provider.” “Issuers must pay each time a consumer loads their card onto the wallet.”
“The caveat is that whether or not a consumer uses the card, the issuer must pay to have it in the Isis Wallet. Card issuers are interested in encouraging card spend whereas Isis is purely interested in getting consumers to link their cards to the wallet. This conflict of interest will continue to be problematic.”
Losing support
Capital One pulling its support from Isis could indicate that the financial institution did not see a substantial amount of consumers using their mobile devices to pay during the pilot for repeat visits, which is key in driving consumer adoption ahead. The number of mobile payment options available for card issuers to partner with is clearly growing, meaning that Capital One might see a bigger opportunity elsewhere.
However, Capital One’s pull-out could be well-timed since Isis is signing new partners, and Isis has an opportunity to recover quickly. “Many financial institutions and merchant acquirers see PayPal and Apple as threats and the moves that these companies are making could cause financial institutions, payment networks and acquirers to accelerate their mobile payments efforts in response to the perceived threat.” Since Isis is looking to partner with the financial institutions, payment networks and acquirers, the moves made by Apple and PayPal could drive partners into Isis’ embrace.
Google expands mobile wallet
Yesterday Google made a significant upgrade to Google Wallet that continues to focus on NFC, but also adds additional payment options for consumers. The Google Wallet app has been updated to let consumers send money to friends and family in the U.S. via an email address. Consumers can either send money directly from their bank account or from Google Wallet balance. Additionally, the app is now available for all Android devices that run the 2.3 operating system and higher. Previously, Google Wallet was only available on select Android devices. Consumers can also store loyalty cards from retailers that can be redeemed by scanning a mobile device in-store. Similar to Apple’s Passbook, Google Wallet will now also alert consumers when they are nearby to a store where they have a loyalty program.
Google said that it plans to support the one of 29 different NFC-enabled devices with NFC, but the company’s focus on additional features points to NFC as un-scalable by itself. In fact, Yankee Group estimates that 18 percent of device owners have a mobile device that supports NFC.
Apple, PayPal news
The interest around NFC has also significantly decreased as both PayPal and Apple are rolling out their own mobile payment options. For example, PayPal recently introduced its PayPal Beacon device that lets consumers pay hands-free in exchange for downloading the company’s app. The technology uses Bluetooth to pick up when a consumer is in-store to trigger a payment.
Apple is also working its way around NFC with its iBeacon technology that is rolling out in iOS 7. The technology lets marketers use Bluetooth around stores that can then be used to push out offers and relevant deals.
Both Apple and PayPal’s announcements emphasize the slow adoption that NFC has had in the United States. Although the technology has taken off internationally, it has had a harder time picking up steam in the U.S. because of the low number of NFC-enabled devices.
Broader roll-out
After running pilot programs, Isis is gearing up for a broader roll-out nationally. To date, most of the activity around mobile wallets has focused around the payment section of mobile wallets, which do not have as strong of a value proposition as the coupon and offers side that Isis is forced to prove to merchants.
Additionally, the education behind getting consumers aware of how to use the technology is still clunky, as evidenced by a test at a participating location in Austin by a local mobile consultant.
“Anything in the digital wallet space is a high-risk/high-reward venture at the moment and there are few if any profits being made in this space.” “When that is the case, business continuation is more a question of resolve than a question of competition.” Having multiple players in the market increases the overall quantity of marketing efforts that will take place in the mobile payments arena, increasing the probability that at least one product will succeed.
Posted in Credit card Processing, Credit Card Reader Terminal, Mobile Payments, Near Field Communication Tagged with: Apple, Capital One, google, ISIS, mobile, near field communications, nfc, Passbook, payment, PayPal, wallet, wallets
August 13th, 2013 by Admin
MasterCard who has endorsed Google Wallet on the Sprint network will now endorse the ISIS network for mobile wallet solutions. Both Google and Sprint have not joined ISIS and it is interesting to see card issuers invest in both platforms. With Verizon, AT&T and T-Mobile in alliance with ISIS, could Sprint be next? Google? Well count Visa and MasterCard as Isis partners. After securing American Express both Visa and MasterCard will now have their credit cards available in Isis’ Wallet. What will be in your mobile wallet?
Many mobile wallet providers are looking at the various options for electronic transaction processing. Will NFC beat out all the others? It’s hard to say but with Apple having yet to release an iPhone model with the chip on board, it could be a yet unseen technology that wins out. QR Codes and Carrier billing are gaining traction for devices without NFC installed and SmartSD cards are coming equipped with NFC to extend devices that have a card slot available.
With device limitations, mobile wallets are still in flux. There are approximately 5 different types of mobile wallets today. There are digital bank accounts similar to prepaid credit cards offered by banks and mostly used for person to person or P2P payments. Mobile payment apps that link payment accounts like those offered by Starbucks or PayPal. Card containers like Apple Passbook store credit cards and loyalty rewards card information and can even fill in forms requesting that information. Similarly, Credential and Card containers store credit card and loyalty rewards but also store identity credentials.
True mobile wallets directly mimic a physical wallet and allow the customer to chose between various credit cards, debit cards even electronic benefits transfer or EBT cards at the point of sale. These wallets are typically app based for both iPhone and Android smartphones and tablets. These wallets can link account information to a point of sale terminal via NFC or other methods for a secure electronic transaction.
Branding and Banks
In recent times Visa, MasterCard and American Express signs at the point-of-sale was a branding element designed to instill confidence for the consumer. With digital wallets becoming the interface for payments, this branding may fade into the background. Yet payment card issuers find themselves in a precarious position. The big three are participating in multiple digital wallet programs in order to not be excluded. This early in the game there are multiple movers and shakers like Square, PayPal, Lemon, Google and now banks and cellular carriers getting into the game, no one knows who consumers and merchants will eventually prefer over the others. It’s like a wait and see game that forces them to play. As banks enter the arena they are favored to win because of the solid loyalty they enjoy from their customers. Though they may not be fair in other categories, they win the security of their customers.
Posted in Credit card Processing, Digital Wallet Privacy, Electronic Payments, Mobile Payments, Mobile Point of Sale, Near Field Communication, Point of Sale, Smartphone, smartSD Cards, Visa MasterCard American Express Tagged with: American Express, Android, Apple, AT&T, google, Iphone, ISIS, MasterCard, PayPal, Square, Starbucks, T-Mobile, Verizon, Visa MasterCard American Express
August 1st, 2013 by Admin
With mobile payment services clamoring for space in the digital wallet domain movers and shakers are positioning themselves for growth opportunities presented in mobile commerce settings. Google Wallet has been live for a while but now a new player is entering the arena. ISIS is rounding the ninth month of it’s pilot program in Austin Texas, and Salt Lake City Utah using near field communications based mobile payments. AT&T Mobility, T-Mobile. and Verizon Wireless have partnered with ISIS and will be providing the electronic wallet services later this year. Read more of this article »
Posted in Mobile Payments Tagged with: Coca-Cola, contactless, Digital Wallet, Google Wallet, ISIS, mobile, near field communications, nfc
In discussions about merchant service providers, Square and PayPal entering talks is a given. Sqaure offers free credit card readers to entice merchants to switch their credit card processing to them. PayPal recently launched an initiative to expand it’s reach into retail stores and offers to waive processing fees through 2013. With the coming rush to mobile transaction processing more companies are entering the fray. AT&T, Verizon, T-mobile and Sprint are looking to get into the credit card transaction processing gig as they already carry that data over their cellular networks. ISIS Wallet and Google’s digital wallet bring credit card transactions to Android smartphones and tablets, and Visa is expected to launch its Visa Ready program as it rolls out test merchants. Read more of this article »
Posted in Mobile Payments Tagged with: Android, bluetooth, Chip & PIN, credit card processing, Digital Wallet, EMV, fees, google, ISIS, m-commerce, merchant, merchant account, nfc, payment processor, PayPal, Rates, Square, transactions, Visa MasterCard American Express
