Magazine article American Banker

Google Unflustered by Isis in Mobile Wallet Businesse

Magazine article American Banker

Google Unflustered by Isis in Mobile Wallet Businesse

Article excerpt

Byline: Penny Crosman

Now that Isis has signed on card networks Visa, MasterCard, Discover and American Express to work with its telecom members AT&T, T-Mobile USA and Verizon on mobile payments, it could muscle out Google Wallet. To date, Google has signed on one network (MasterCard) and one telecom operator (Sprint), as well as Citigroup, First Data and 16 merchants as tenant partners.

Google representatives scoff at this notion, pointing out that Google Wallet is being used in field trials by more than 1,000 employees of Google and its partners.

Google will launch its app in a few weeks (the company would not give a specific date) and is talking to other potential partners.

Google says its open commerce ecosystem is available to all credit card networks, mobile phone providers, handset manufacturers, merchants and banks.

"Google is deeply engaged with many banks both here in the U.S. and abroad," Marc Freed-Finnigan, senior business product manager for Google Wallet, said Monday. "We're working together to create open standards for how accounts are provisioned over the air and how the industry can transition to mobile devices. We've announced formal relationships with Citi and MasterCard and have no new partnerships to announce. But we encourage you to stay tuned."

A Google employee who spoke off the record hinted Isis' card network relationships may be shallow and far from execution, whereas Google's partner relationships reflect deep commitments.

For example, Google has already built MasterCard PayPass compatibility into its app. …

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