According to a story from Reuters, AT&T’s head of business solutions, John Stankey, said the Dodd-Frank financial reform law passed last year played a role Isis’ recent change in direction. According to the report, Stankey said the law’s Durbin Amendment, which restricts fees networks can charge merchants for debit card transactions, changed the dynamics of the market, making it harder for Isis to make money on transaction fees.

"Some changes in the banking laws occurred with the amendments that were put in with the Dodd-Frank bill,” Stankey said in the article. “As transaction fees were limited and things were changed, it kind of changed the business model.”

Isis, a joint venture between Verizon Wireless, AT&T Inc. and T-Mobile USA, originally planned on creating a mobile payment network to compete with Visa Inc. and MasterCard Inc. Reports last week came out saying Isis is no longer looking to compete with Visa and MasterCard, the two largest payment networks in the world, and is instead inviting the two companies to partner in its efforts to create a mobile payment system.