whats known and unknown

KaChing! US carrier-backed Isis Wallet program is live

on November 15, 2013


For the second time since 2011, your smartphone can be your wallet. Only this time around, the product has nothing to do with Google(s goog) and everything to do with Isis, a U.S. carrier-backed service that’s now live around the nation. The wallet program represents the culmination of carrier efforts to get a piece of the mobile payment pie.

Politics and business aside for a moment, what does this mean? If you have an Isis-compatible smartphone with NFC from AT&T(s t), T-Mobile(s tmus) or Verizon(s vz)(s vod) and a special SIM card with what’s called a secure element, your phone can be used for contactless purchases. Instead of sliding a credit card through a reader, for example, you simply hold your phone close to a point-of-sale terminal to transmit the payment information.

Many recent Android phones include an NFC, or near-field communication, chips inside so they’ll just need the…

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