Isis, Google Launching New Versions of Their Mobile Wallets
According to the NFC Times, Isis -- a joint venture among Verizon Wireless, AT&T and T-Mobile -- plans to introduce a redesigned interface for consumers by the third quarter. The new version of the wallet, known as Isis Mobile Wallet 2.0, will be designed by Mutual Mobile and will run on near field communication (NFC)-enabled handsets sold by the three cellular phone providers.
C-SAM developed the first version of the mobile wallet, which as CSNews Online previously reported, is currently being tested in the Salt Lake City and Austin, Texas, markets.
The second-generation mobile wallet does not coincide with Isis' plans to expand to additional U.S. cities later this year, the NFC Times reported. It will be designed for Android and iOS devices, the latter of which needs an NFC-enabled attachment, expected to be released soon.
An Isis spokesperson told the news outlet the company had "nothing to announce at this time" regarding a new version of its mobile wallet.
As for Google, the Internet search giant already introduced a new version of its mobile wallet, NFC World reported. Version 1.6-R96-v13 is designed with an improved user interface, application stability and battery life.
The Android app also features a "Transactions" tab, which enables users to view individual purchases made and the funding source used. Meanwhile, an "Explore" tab displays two types of offers: "Featured Offers" that users can save to their wallet, as well as "Nearby Offers," the news source stated.
A survey by ACI Worldwide revealed that Google is most likely to win the mobile wallet war vs. Isis and other competitors. The study, which surveyed 225 retail professionals and was conducted at last month's National Retail Federation BIG Show 2013, concluded that 53 percent of respondents believe Google will prevail in the mobile wallet war, vs. 25 percent for PayPal and 4 percent for Isis.
Nearly one in five respondents said they believe a new mobile wallet product could gain traction in the market.
Which company wins the mobile wallet war definitely matters to retailers. Thirty-two percent of those surveyed in the ACI study believe the entrance of mobile wallet providers will be the market development that most impacts retailers during the next 12 to 18 months.
However, that doesn't mean retailers will rush to upgrade their mobile payment strategy. A majority of those surveyed (44 percent) believe a lack of common standards for payments is the greatest barrier to implementing a mobile payment strategy. Another 25 percent said the greatest barrier is point-of-sale infrastructure.