Another Advancement in Mobile Payments

After months of delays, mobile payment took another step forward this week with the launch of the Isis system in Salt Lake City and Austin. Isis allows consumers to make payments with their smartphone by waving it at a check-out terminal.

Wireless carriers are testing the Isis Mobile Wallet and attempting to ignite the adoption of mobile payment systems that have been slow to find success in the United States.

The tests in Austin and Salt Lake City are starting small: 500 retailers can accept Isis in Salt Lake City and 470 in Austin. According to Computerworld, there are approximately 200,000 of the newer point-of-sale terminals that accept mobile payments in place in the United States, a very small percentage of retail stores. That number could grow significantly over the next three years as retailers could pay a penalty if they don't upgrade to point-of-sale terminals with better security by October 2015.

Isis is accessible on nine smartphones that have Near Field Communication (NFC) technology and run on AT&T, T-Mobile USA and Verizon Wireless networks. Consumers who want to use Isis for payment must have an Isis-ready smartphone with a secure element SIM card that will protect credit card information. The secure element SIM card is designed to prevent counterfeiting of cards by constantly changing security codes.

To get started, consumers download the Isis Mobile Wallet app and load a credit card that works with mobile payments. Only certain Capital One, American Express and Chase cards can currently be loaded onto the mobile wallet. Consumers must also have an online account for your credit card. To load a credit card, open the Isis Mobile Wallet app and enter your four digit PIN that you created when you registered for the Isis Wallet. Find the Isis Directory and select American Express. Then, log in with your User ID and Password that you use with your credit card issuer and follow the steps to add your card. For your security, you can only add cards through your Isis Wallet and not from your computer desktop. You can add multiple personal or business cards, but only one can be open at a time.

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