Isis Payment Venture Signs Deals with Visa, Mastercard

Isis, the mobile-commerce joint venture between four of the country’s major carriers, said Tuesday that the company will facilitate mobile payments between Visa, MasterCard, Discover and American Express.

The deal essentially allows a customer of an Isis phone to use any of the most common credit cards, stored as part of an encrypted "digital wallet" inside his or her phone that will communicate to a merchant’s point-of-sale device via a near-field communications (NFC) chip.