AT&T, T-Mobile & Verizon Giving NFC Mobile Payments a $100 Million Push

NFC (Near Field Communications) is sometimes hailed as the next big thing for mobile commerce. The typical scenario requires a consumer with a smartphone that has the hardare to work support NFC wireless data. This smartphone securely communications with a ticket dispensing machine, vending machine or some point of sale device to complete a transcation. Major U.S. mobile phone companies, credit card companies and Google have announced some kind of NFC mobile payment strategy in the past year. Bloomberg News reports that three of the big four U.S. mobile firms plan to invest heavily to get their joint venture, ISIS, up and running.

AT&T-Verizon-T Mobile Sets $100 Million for Google Fight: Tech

Google and Sprint have their own NFC based mobile payment strategies. Bloomberg reported that Juniper Research projects that 20% of smartphones will be NFC capable by 2014.

You can find previous coverage on this topic here on Social Times in the references listed below.

Nov. 17, 2010: ISIS (AT&T, T-Mobile, Verizon) NFC-driven Mobile Commerce in a Few Years?

Mar. 29, 2011: Google Led NFC Mobile Payment Group on One Side. ISIS Mobile Carrier Group on the Other

May 4, 2011: ISIS NFC Mobile Commerce: Not in 2011

July 19, 2011: All Major Credit Card Firms & Three of Four Mobile Carriers Line Up Behind ISIS NFC Mobile Commerce