Delays Put Pressure on ISIS to Create Momentum for Mobile Payment System
Tweet
Share
E-mailGet Alerts T Hot Sheet
Join SI Premium – FREE
ISIS, the joint mobile payment venture put together by AT&T (NYSE: T), Verizon (VZ) and T-Mobile delayed a major roll-out of their system from September to October. The company did not explain the cause of the delay, but an executive said ISIS would reveal "market momentum news" in October, heightening speculation that ISIS has an ace up its sleeve.
The venture is facing increasing competition as the fight for mobile payment heats up. Last month startup Square threw a haymaker when it announced that it was teaming up with Starbucks (Nasdaq: SUBX). Soon after, news broke that Apple (Nasdaq: AAPL) was teaming up with Wal-mart (NSYE: WMT) to offer a fast checkout service. eBay's (Nasdaq: EBAY) PayPal broke new ground when it announced it was partnering up with Discover Financial (NYSE: DFS) in a huge deal which will vastly expand the online payment processors footprint in the U.S.
Clearly mobile payment is one of the hottest new technologies around, and many insiders expect rapid adoption. The question is, with so many players, which technology will it be?
Another question that comes to mind is, with all the recent announcements and industry buzz, why is it taking ISIS so long to get into the game? They're telling investors to wait until October. Ok, fine, but whatever big "momentum" news they announce, it better be good. Apple's iPhone 5 doesn't include an NFC chip and ISIS is planning a workaround. Maybe they will announce a new iPhone case that includes the necessary chip. If so, it will indeed be a big announcement for the simple fact that it is so very lame.
The venture is facing increasing competition as the fight for mobile payment heats up. Last month startup Square threw a haymaker when it announced that it was teaming up with Starbucks (Nasdaq: SUBX). Soon after, news broke that Apple (Nasdaq: AAPL) was teaming up with Wal-mart (NSYE: WMT) to offer a fast checkout service. eBay's (Nasdaq: EBAY) PayPal broke new ground when it announced it was partnering up with Discover Financial (NYSE: DFS) in a huge deal which will vastly expand the online payment processors footprint in the U.S.
Clearly mobile payment is one of the hottest new technologies around, and many insiders expect rapid adoption. The question is, with so many players, which technology will it be?
Another question that comes to mind is, with all the recent announcements and industry buzz, why is it taking ISIS so long to get into the game? They're telling investors to wait until October. Ok, fine, but whatever big "momentum" news they announce, it better be good. Apple's iPhone 5 doesn't include an NFC chip and ISIS is planning a workaround. Maybe they will announce a new iPhone case that includes the necessary chip. If so, it will indeed be a big announcement for the simple fact that it is so very lame.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Active options: AAPL NVDA TSLA SPCX AAPL MSTR INTC MRNA WMT
- This name is "a later-cycle beneficiary of the AI spending cycle": Goldman
- Morgan Stanley sees "significant medium-term upside" in this e-commerce stock
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
