Visa, MasterCard, American Express, and Discover will all be offering apps for NFC-enabled phones from Verizon, AT&T, and T-Mobile (the three networks that comprise Isis). These apps will provide high levels of security for NFC based transactions.
[Visa’s] PayWave is software that supports EMV (Europay MasterCard Visa)-level security, considered to be the payment industry’s highest level of encryption technology, Visa says on its website. Visa uses it on smartcards, key fobs and some mobile phones. In a PayWave trial, consumers in Malaysia pay at a retail store or other point of sale by waving a smartphone with NFC at an NFC terminal.