US telcos to invest $100m+ in Isis NFC venture?


US mobile network operators AT&T Mobility, Verizon Wireless and T-Mobile are planning to invest more than US$100m in their Isis NFC joint venture, Bloomberg reports, citing “people with knowledge of the project.”

Ultimately, Bloomberg adds:

The carriers may invest hundreds of millions of dollars in the venture if it gains followers, one person said, helping it catch up with Google, which unveiled its own mobile wallet service in May.

The report follows deals signed by Isis with Visa, MasterCard, Discover and American Express in July that will see the NFC venture putting in place a fully open, TSM-to-TSM technology architecture.

The first Isis pilots are due to go live in Salt Lake City, Utah and in Austin, Texas during 2012.