If any of you are familiar with NFC (Near Field Communication), you’d know that the only mobile phone with this in the US is the Samsung Nexus S on Sprint. This phone supports two major products from Paypal and Google (Google Wallet). I’m not quite sure how many users are actually taking advantage of this product but since it’s exclusively on Sprint, the other big 3 carriers are starting to make some movements with ISIS. ISIS was formed in November 2010 with Verizon, AT&T and T-Mobile to work out a collective system that would take advantage of the NFC technology. Yesterday, they pledged to invest $100 million into the project in order to compete against Google Wallet. One of the benefits of ISIS is that they support payments from Visa, AMEX, Mastercard and Discover whereas Google Wallet is only supported by Mastercard. Also, according to the ISIS website, there will be inscentives to use ISIS’ product in the future like private sales and secret discounts that other non-ISIS consumers may not be aware about.
Just like any new technology, I don’t see an early widespread adoption of this product but I can see a beneficial use in the future. ISIS’ test market will be in Salt Lake City, Utah sometime in mid-summer 2012. Until then, use your plastic and don’t lose your wallets.