All Major Credit Card Firms & Three of Four Mobile Carriers Line Up Behind ISIS NFC Mobile Commerce

ThisIsMyNext noted ISIS’ press release announcing:

MasterCard, Visa, American Express, Discover join ISIS mobile payment network

The PayWithISIS press release indicates this may be the long awaited emergence of NFC (Near Field Communication) technology as a means of making mobile ecommerce transactions.

Isis will bring mobile commerce to consumers and merchants by using mobile phones to make point-of-sale purchases through the use of near-field communication (NFC) technology. Isis will offer customers a secure and convenient way to pay, redeem coupons and store merchant loyalty cards, all with the tap of a phone.

However, given the pace at which NFC appears to be proceeding, it may be years before we see the combination of phones with the NFC hardware embedded and merchants who have the hardware, network infrastructure and payment agreements in place to actually make transactions.

However, it is a milestone to see the major credit card players aligning with AT&T Mobility, T-Mobile USA and Verizon Wireless. Only Sprint, of the big four U.S. mobile carriers, is not participaing in this effort.