Texas Business For Sale

Isis expands m-commerce network launch to Texas

Isis, the mobile commerce joint venture spearheaded by Verizon Wireless ( NYSE:VZ ), AT&T ( NYSE:T ) and T-Mobile USA, has identified Austin, Texas, as its second launch market. Beginning in the first half of 2012, Isis will roll out Near Field Communications-based contactless payment services to select merchant locations across the Austin community. In addition to point-of-sale purchases, the Isis network also will support retailer loyalty card programs, coupons and offers and related promotions.

Isis previously named Salt Lake City, Utah as its first U.S. launch market. The company said it will partner with the Austin Chamber of Commerce and local merchants to boost consumer adoption of m-commerce services. The famously progressive Austin community is home to a thriving technology startup culture; it's also the site of the University of Texas.

Verizon Wireless, AT&T and T-Mobile USA first announced Isis in late 2010. Isis initially stated it would roll out its own NFC-based network designed to go head-to-head with traditional credit card giants Visa and MasterCard, but in May, the firm said it will instead open its system to all interested credit issuers and banks and will align with existing m-payment infrastructure. Although Isis has long maintained plans to open its ranks to all merchants, banks and mobile carriers, the company said unexpectedly strong interest prompted the decision to accelerate the approach far earlier than anticipated.

In a May interview with Reuters , AT&T head of business solutions John Stankey said the Dodd-Frank financial reform law also played a significant role in the Isis overhaul. The law's "Durbin amendment" vows to make payment processing less profitable by limiting the fees that merchants pay banks and networks whenever a customer completes a purchase using a debit card.