Isis Mobile Wallet From AT&T, T-Mobile And Verizon Launched

Today,  AT&T, T-Mobile and Verizon have teamed up to announce the release of their own mobile wallet service in the United States, Isis Mobile Wallet. Beginning from today, owners of Isis compatible mobile handsets can enjoy a wallet free shopping experience in Salt Lake City and Austin.

“The launch of the Isis Mobile Wallet in Austin and Salt Lake City represents a milestone for both Isis and the mobile commerce industry,” said Ryan Hughes, chief marketing officer, Isis. “With as many as twenty Isis Ready handsets headed to market by year end, we are experiencing an unprecedented level of support for NFC and consumer choice.”

The Isis mobile wallet service from three of the biggest operators in the United States might just kill Google’s own Wallet service. Google launched its Wallet service back in late 2010 with the Nexus S. Since then, the service has failed to become mainstream mainly because of the opposition from the U.S. carriers and the lack of Google Wallet compatible handsets.

On the other handset, Isis mobile wallet service is already supported by 9 different Android handsets, with 11 additional handsets to be available by the year end.

While Google only recently added support for all credit and debit cards in Google Wallet, Isis only works with cards from American Express, Capital One or a Chase card.


Google Wallet Now Supports Any Debit Or Credit Card

Google Wallet has been a disappointment for the big G until now. The service that was introduced way back in late 2010 with the Nexus S, has failed to garner any interest among the consumers. The reasons behind this are many including the lack of support for Google Wallet from the network operators themselves, the limited range of cards that was accepted by the service (Only CitiBank) and other security related issues.

Today, Google has released a new ‘cloud-based’ version of Google Wallet. The new version allows users to add any debit or credit card to their Google Wallet account, along with the ability to remotely disable any card from their Google Wallet account. The company has also rolled out an updated version of the Google Wallet app for its Android users.

Google Wallet also no longer uses the secure NFC chip on your phone to store your card details and other sensitive information. Except for Citi’s MasterCard, owners of any other card will see transactions on their card from Google instead of the original merchant.

Hopefully, these changes from Google will make Wallet more popular in the United States, and carriers other than Sprint will finally see it as a viable option.

Here’s How Square/Google Wallet Will Put Foursquare Out of Business

Foursquare, a darling startup of everyone, might have raised a lot of money and might have an unusually handsome co-founder. But if you followed Techcrunch disrupt NYC, this year, when Michael Arrington questioned Dennis Crowley about the revenue foursquare is generating, he did not wish to answer.



Now at a platform like Techcrunch disrupt, who wouldn’t want to brag? It’s either they are making tons of money or they are making nothing. Nada. In my opinion it’s the later one. Now while the whole checking in funda is cool and was fun while it lasted (I’m already suffering from check-in fatigue), foursquare doesn’t really have a business model except for tying up with businesses for offering returning customers some offers.

But how would Square/Google Wallet take away Foursquare’s business you ask?

Here’s how. Square, a nice nifty startup launched to manage payments is soon gaining a lot of attention mostly because of one of it’s co founder Jack Dorsey. Jack Dorsey was also one of the key member behind Twitter. But that’s not the only reason why Square is getting a lot of attention. It’s because the startup he built is damn useful.
Managing your payments in digitalised format for customers and retailers is something I’ve always dreamt about. Square makes it possible. But that’s not all. Here’s why Square is above Foursquare and will steal the main revenue making possibility from Foursquare. Square can track user spending’s at stores even without them having to check-in. Besides that, Square will also take care that the customer doesn’t just checks-in but also spend money in order to get future loyalty rewards. It’s a win-win situation   for both customers and retailers.

Foursquare, in my opinion would have to start looking at something different to generate revenue or should have exited when chance had arrived.

Google also recently announced their ambitious project – Google Wallet. Google Wallet is an open platform that will allow you to use credit cards, coupons, store loyalty cards, etc without actually swiping each card. Again something similar to Square. Here again Google can do everything what Square can do, that is, collecting data. And considering Google has tons of other products that users can link via their Google profile, Google has an advantage over Square. But nonetheless, it’s going to steal whatever business model Foursquare had in mind if they Google seems serious about expanding   their   Local and Social reach.

Either Foursquare needs to quickly find a new way to generate the revenue or stay stubborn and die the the internet death. It would be sad to see the yet another brilliant startup die a Digg like death where it couldn’t innovate and adapt with the competition.

Paypal Sues Google Over Trade Secrets (Google Wallet)

Paypal was already under siege by startups like WePay and Square, but with Google announcing the new Google Wallet platform powered by NFC, it now has a very major competitor in the mobile payments segment.

Today, Paypal announced that it had filed a lawsuit against Google and Osama Bedier, the former VP of Platform, Mobile at Paypal who now works at Google.

Apparently, Bedier was heading the charge for Paypal’s new mobile payments offering, in which Google would be partnering with it. What happened was, Google poached Bedier and dropped those negotiations, instead launching its own mobile payments offering.

Paypal is now alleging that Bedier misappropriated trade secrets from Paypal, to help build Google’s offering. Paypal says that it was working on the lawsuit since Bedier quit, but it seems that Google’s mobile payments announcement may have triggered it, and with good reason – the mobile payments market is expected to reach $630 billion by 2014. Paypal will definitely try to keep Google from getting a huge head start.

Google has tried to compete with Paypal before, in the form of Google Checkout, but failed badly. This time around, it does seem to have a great offering. Also, Paypal hasn’t really entered the mobile payments arena yet, so Google may have a really good chance of dominating the segment.

I expect Paypal to soon make an announcement about its mobile payments offering. Whatever happens to the lawsuit, having two competing giants in the space is definitely great news for the consumers.