CWmike writes: "Isis, a consortium comprised of AT&T, Verizon Wireless and T-Mobile USA, is said to have decided to back off plans for a new, separate mobile payment network and will instead work within traditional systems that include major credit card processors such as Visa and MasterCard for mobile transactions, according to unnamed sources in a WSJ story. The carriers will still move ahead with a pilot test planned for 2012 in Salt Lake City of a system using near field communication (NFC) technology inside smartphones. Isis' change in direction is an acknowledgement that setting up a mobile payment system is much more challenging than putting NFC chips in smartphones and installing NFC reader terminals, at least in the U.S., analysts have said."
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