Large-scale testing of mobile payment system to begin next year
A joint-venture mobile payment system that will allow consumers to handle their credit card debt using their smartphones will be tested in Utah next year.
Isis, the mobile payment system put together by Verizon, AT&T and T-Mobile, now has a pilot test scheduled for 2012 in Salt Lake City, Utah, according to a report from the tech news site Computerworld. The system will be tested both at local businesses and with the city’s Utah Transit Authority, which has already implemented some contactless payment systems for public transportation passes.
However, consumers with credit cards issued by just two lenders, Discover and Barclaycard, would be able to participate as things stand now, the report said. Visa, MasterCard and American Express, the nation’s three largest credit networks, are not currently associated with Isis.
Many companies across a number of industries are beginning to explore their options with regard to credit card payments using mobile phones. Experts believe this method will be widely adopted as technology becomes available and the payment sector makes such an option more secure.