People who have a Chase Freedom, Sapphire, Slate or JPMorgan Palladium card in their actual wallet will be able to load that card onto their virtual wallet once Isis is available nationwide. American Express Serve account holders will also be able to use their prepaid cards through their mobile phones. In fact, Isis will come with Serve already integratedmaking it easy for customers to sign up for a Serve account if they don’t have one.
Isis has done pilot trials in Texas and Utah and doesn’t have a firm date for its national rollout, but it is expected to happen before the end of 2013. Jointly owned by AT&T, Verizon Wireless and T-Mobile, Isis will run on near-field communication technology, known as NFC. The challenge that NFC has, is that in order for customers to use the Isis mobile wallet, merchants must have NFC-capable point-of-sale systems.
Isis wallet users must also have NFC-capable phones, something that is not yet true of the iPhone. The latest iPhones, announced just this month, will not have NFC technology. Windows phones, Blackberry devices and Android phones do all support NFC.
Google Wallet, the major competitor of Isis, can be used without NFC, which some industry experts believe give it an edge. However, even without NFC, Isis can be used for more than just payments. People can load their customer loyalty cards to Isis and use it to take advantage of discounts and other coupon programs.
People who are tired of carrying their actual wallets around in order to pay for goods and services eagerly await mobile wallets. Studies have shown that most prefer to leave wallets behind when they are at the gym, the beach and the pub. If merchants and mobile phone manufacturers are able to embrace NFC technology, a future where people don’t have to worry about remembering to bring their wallet with them when they go out, could be within reach.
Capital One had been set to join Isis earlier this year, but recently pulled out, saying that although they were pulling the plug on the current deal, they would “continue to engage with Isis on the future of mobile payments.”
Read Also Related News
Discover cardholders will be able to contact customer service more easily with the advent of in-app messaging, which allows customers to communicate with Discover customer service agents without having to stop and restart their...
Citi’s mobile app has been updated to allow cardmembers to scan their credit cards, allowing them to skip the burdensome step of entering all 16 digits manually when they want to buy something with their Citi card. Customers will be...
Walmart customers who want to pay for their purchases via smartphone will soon be able to do so, after the retail giant announced that they would begin accepting Chase Pay in 2017. Chase Pay will be accepted on Walmart.com and through...
To set a PIN on your credit card, you should call the credit card issuer at the number on the back of your credit card and request your PIN. After that, the issuer will mail to you your PIN. In the meantime, if you need cash, you can go to a bank office and present your credit card and picture ID.
Avoiding your credit card bill will do a lot of damage on your credit and you will need a good deal of time and effort to undo it. When you miss a payment, you get slapped with late fees. If you do not make a payment for an entire billing cycle, you’ll be considered 30 days past due and this will be reported to the...
The overall process of getting a credit card can take up to 30 business days. To know the status of your credit card applications you should contact the credit card issuer. A quick online search for the bank or credit card issuer's name should turn up a customer service phone number or email address. Banks and credit card...
If your security code is rubbed out, contact your credit card issuer and explain them your situation. Most likely you will be offered a replacement card. Your credit card issuer will not provide you with the security code over the phone or via email. That's for your own protection.