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Now that Isis, the mobile operator payments joint venture, is launched and intending to make NFC payments a reality, one of the major questions hanging in the air is “what are the banks going to do?” A couple of vendors have teamed up to help banks answer that question for themselves. And it is an interesting couple.
Monitise (LSE: MONI.L), a global leader in mobile money solutions, has joined forces with leading near field communication (NFC) software developer ViVOtech, to deliver mobile phone payments services to banks across the United States. The partnership means customers of participating banks will be able to turn their handset into a mobile wallet (linked to registered bank accounts, credit and debit cards) and purchase items using contactless payments at merchants with NFC capabilities.
Read the press release here: http://www.monitisegroup.com/media/press_releases?id=377
Read related viewpoint by George Peabody, Director Emerging Technologies, Mercator Advisory Group: A Timely Answer to the Isis Challenge