What is ISIS NFC?
NFC (Near Field Communication) is a recent advancement in the field of mobile payment. It allows people to make payments just with the use of their NFC cell phones. The pay by phone technology appears to be promising for a number of reasons; convenience, discounts and a host of other features.
At this time, the pay by phone technology is in development stage in the US. Like other technologies, with the launch of this new concept, companies are busy in designing their products that support this new technology. Google has already taken its stance with the launch of Google mobile wallet this September. To get the ball rolling, Google mobile payment works with a few designated stores which are spread across the US. Moreover, people can only use MasterCard or Google Prepaid Card to pay their bills.
With a giant like Google being the first to provide the service, small companies are already daunted to face the competition. However, one entity is seen offering its service in the same line; ISIS. ISIS is a group of leading telecommunication brands comprising of T-Mobile, AT&T and Verizon. The three companies contribute to more than half of the total telecom service requirements in the US. Will it be able to surpass Google; well it’s too early to say this.
Google is relying yet on Nexus S nfc cell phones for its pay by phone technology as it has not launched its own phone yet. However, the recent investment of $12.5 billion for the purchase of Motorola Mobility shows how eager the company is to produce its own NFC phone. Motorola develops more than 10% of total smart phones in the US and with this investment, it seems that Google will be back in the market soon with its own NFC phone which will host Google mobile payment.
It must be noted that ISIS is also pacing up in the technology. The group is planning to invest more than $100 million into the pay by phone technology. Although the amount is small as compared to Google, ISIS NFC system can’t be considered insignificant. In the last week of September, major smart phones manufacturers including Samsung, HTC, LG and Sony have promised their loyalty to ISIS NFC and have announced that they will deploy the technology in their upcoming models.
As the digital wallet war continues, people are restless to see what comes next.
Will Google be able to take up with all the profit from this novel service as it has done in the past, or ISIS NFC can turn the table?