Dec. 11, 2011
Mobile payment network Isis has added another essential partner to its plans to launch services next year. Dutch security company Gemalto announced today that it has been selected to help Isis secure its network by providing its Trusted Service Manager (TSM) solution.
As TSM for the Isis mobile payment scheme, Gemalto will play a necessary role in connecting financial service providers, such as credit card issuers, with the mobile network operators and allowing consumers to make purchase at the point of sale using their NFC-enabled smartphones.
"We selected Gemalto for their long-standing relationships with financial institutions and mobile operators, which includes experience in securely provisioning services over the air and issuing sensitive financial information to the consumer," said Isis CMO Ryan Hughes in a statement.
Hughes said Gemalto’s dedication to security will provide the Isis Mobile Commerce Platform with the necessary infrastructure to ensure consumer and merchant confidence in the Isis Mobile Wallet.
A TSM partner is one more part of the required payment infrastructure that Isis needs to create its mobile payment network. To this point, Isis has secured several other partnerships to build out its plans:
- In July, the four major credit card brands — Visa, MasterCard, American Express and Discover — announced they would participate in the Isis platform.
- Isis announced technology provider C-SAM has agreed to license a wallet management platform and software development kit, thus providing Isis a virtual wallet application for consumers to store their credit cards in.
- The JV said handsets from most major smartphone manufacturers are compatible with its planned network.
- A senior Isis executive said that several credit card issuing banks have signed on to provide credit and prepaid accounts for Isis.
Isis is a joint venture launched last year between three of the big four wireless carriers in the U.S., Verizon Wireless, AT&T Mobility and T-Mobile USA. The carriers are reportedly investing $100 million in its success. Isis has announced plans to pilot its NFC mobile payment program in Austin, Texas and Salt Lake City sometime during the first part of 2012.
For more stories on this topic, visit the Contactless/NFC research center.