Author: Dan Gendro

The smartphone wallet joint venture rumors have been flying and finally an announcement has come.

Though Isis has not seen a tremendous amount of use in its two pilot cities of Salt Lake City, Utah, and Dallas, Texas, it has now reached the point that this mobile payments solution will be expanding to the nationwide scene.

This digital wallet is the result of the efforts of Verizon Wireless, T-Mobile U.S., and AT&T Mobility.

The rumor mill had been closely following this project, as the mobile payments market continues to become increasingly swamped with players, and has been waiting for the solution to be rolled out across the United States. Finally, the news has come and the companies involved in the joint venture have confirmed that it will be available across the country before the year is done.

The mobile payments wallet will be available to more customers and in more locations.

The Isis mobile payments solution has undergone a lengthy trial period for three quarters of a year. According to the chief executive officer of Isis, Michael Abbott, “Over the past nine months, we have proven the power of an open platform, creating an ecosystem of literally hundreds of partners dedicated to making mobile commerce a reality.”

Abbott went on to talk about this mobile payments project, saying that “As part of our commitment to consumers, we are incorporating feedback from our pilots into the next generation of the Isis Mobile Wallet as we prepare for national availability later this year.”

In order to use the Isis mobile payments wallet, consumers must have a smartphone with NFC technology. This is the tech that is required for paying, redeeming coupons, and using loyalty cards simply by tapping their smartphones against a reader device. At the moment, only a small percentage of smartphones are equipped with the necessary technology. It is, however, slowly growing in popularity among the manufacturers.

Currently, the only devices that are compatible with the Isis mobile payments are Android based, but the company has stated that it will soon make the digital wallet ready for iOS, Windows Phone 8, and BlackBerry 10.

Starbucks finds success on the mobile payments front

Mobile payments are becoming more common in the U.S., especially as businesses show interest in new forms of commerce and begin catering to consumers with smartphones and tablets. One company has managed to establish a powerful lead on the mobile payments front and may serve as a powerful example of what can be accomplished by engaging mobile consumers. That company is Starbucks, which has been involved in mobile commerce since teaming with mobile commerce firm Square only a few short years ago.

10% of company’s transactions come from mobile devices

Starbucks and Square have developed a mobile payments system that leverages QR codes and, in some cases, NFC technology to allow consumers to pay for products with nothing more than their smartphone or tablet. During the early stages of the company’s endeavor, Starbucks did not expect to see a great deal of support for its mobile commerce initiative. Consumers, however, proved that they were more than willing to embrace the service being offered by the company. Now, mobile payments represent 10% of the company’s total transactions in the U.S.

Consumers flock to Starbucks’ mobile commerce service

Part of the reason consumers seem to enjoy mobile payments is due to the convenience that it represents. Consumers can pay for nearly anything by simply waving their mobile device at a payment terminal. Starbucks also offers a reward program for those that make mobile payments, further piquing the interest of consumers. The company notes that many of its consumers happen to be tech-savvy individuals that are interested in engaging in new technologies they are not necessarily familiar with. This may be yet another reason why Starbucks has managed to find success in the mobile commerce arena.

Many consumers concerned over security of financial information

While mobile payments have been growing popular in the U.S., many consumers have shown resistance to the idea of mobile commerce. Several platforms designed to cater to this sector, such as Google Wallet, have failed to win any significant support from consumers. Many people cite security concerns for their lack of interest in mobile payments, while others consider mobile commerce to be nothing more than a passing fad.