US mobile phone operators have put on hold plans to set up their own mobile payment network. AT&T, Verizon and T-Mobile had been working together on a venture called 'Isis' which would have allowed users to maintain accounts directly with their operator rather than through an intermediary such as Visa or Mastercard. The trio announced Isis back in November but have now decided that it is "too difficult and too time-consuming".
Instead, they are now in talks with both Visa and Mastercard about setting up a 'mobile wallet' system. The new idea is to allow customers store information on existing credit cards through a system embedded in phones.
However, Isis' first trial is still slated to go ahead. The trial, with Utah Transit Authority, will allow users to pay travel fares by tapping a reader with an Isis-enabled phone and uses near-field communication (NFC) technology.
Rival mobile operator Sprint will welcome the news and is believed to be preparing its own foray into NFC technology for launch later this year.
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