NEW YORK CITY -- Isis announced plans to roll out its mobile wallet nationwide later this year, following pilots in Austin, TX, and Salt Lake City. Created through a joint venture between AT&T Mobility, T-Mobile US Inc. and Verizon Wireless, the Isis Mobile Wallet uses near field communication (NFC) technology to allow consumers to pay, redeem coupons and present loyalty cards with a tap of a smartphone. To use it, consumers need an NFC-enabled smartphone and a SIM-based secure element.
"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," said Michael Abbott, chief executive of Isis. He said the company is incorporating feedback from its pilots into the next generation of the Isis Mobile Wallet as it prepares for national availability later this year."
Nearly 20 million smartphones in the market reportedly currently feature NFC technology, with millions more being shipped each month by AT&T Mobility, T-Mobile US Inc. and Verizon Wireless, three of the nation's leading carriers.
Three dozen mobile devices across AT&T Mobility, T-Mobile US Inc. and Verizon Wireless currently support Isis and support for iPhone, Windows Phone and Blackberry 10 is expected to be introduced later this year.
Consumers who activate the Isis Mobile Wallet can pay at retail locations that accept contactless payments. According to Isis, more than 100 national retailers have deployed or are deploying contactless terminals and experts project that 1.3 million locations in the U.S. will have contactless-ready payment terminals by yearend.
Coca-Cola's vending machines are among them. More than one-third of active Isis Mobile Wallet users in Austin have reportedly loaded a My Coke Rewards card into their wallet since the pilot began and 90% of them are new to the My Coke Rewards program.
"Working in partnership with Isis, we have been witness to the power of mobile payments and loyalty," said Rick Kanemasu, vending technology strategy, Coca-Cola North America Group. "Coca-Cola is engaging with new and existing customers as never before and we look forward to expanding nationwide with Isis later this year."
Isis learned from its pilot of Isis Mobile Wallet in Austin and Salt Lake City that, on average, active Isis Mobile Wallet users tap more than 10 times a month. Two-thirds of active users opted in to receive offers and messages from their favorite brands, following an average of seven brands.
Contactless acceptance nearly quadrupled to more than 4,000 locations in Austin and Salt Lake City. During the pilot, more than 80% of transactions took place at everyday spending locations such as quick-service restaurants, coffee shops, gas stations, convenience and grocery stores. Isis wallet users engaged in loyalty and offers tap up to two times more frequently than users who only make payments.
Last December, USA Technologies said up to 7,500 vending machines in Austin, TX, and Salt Lake City would be able to accept mobile payments using its NFC-enabled ePort devices through its new partnership with Isis. | READ MORE