It sounds like the setup to a joke: “AT&T, Verizon, and T-Mobile walk into a bar …”
But it’s no laughing matter. Despite the fact that each company devotes itself almost entirely to beating the other two in the highly-competitive mobile market, the three companies have created a new “mobile payment” venture – Isis – that launched today in Austin.
Mobile payments, also called “digital wallets,” allow purchasers to buy products and services using a phone-based app at the point of sale, instead of with credit cards, cash, or checks.
Merchants that accept Isis payments are a mix of big-box retailers, fast food restaurants, department stores, and local merchants.