Mobile commerce continues to be a popular field for telecom companies
The mobile wallet arena is beginning to grow crowded as more telecommunications and mobile technologies companies announce plans to develop their own NFC-based applications capable of facilitating mobile payments. These applications go hand-in-hand with NFC, using the technology to enable consumers to make purchases for goods and services using the financial information linked to the mobile wallet. Though NFC is not the only option for mobile wallet applications, as proven by PayPal, it has become the most popular technology in the mobile commerce industry.
Sprint announces Touch mobile wallet platform
Sprint, one of the largest mobile service providers in the U.S., has announced its entry in to the world of mobile commerce with the development of its own NFC-based mobile wallet. The company has tentative plans to launch their application as early as this summer. Sprint’s mobile wallet is currently dubbed Touch, though this is subject to change depending on various factors leading up to the mobile wallet’s launch. Sprint’s interest in mobile commerce may put it at odds with one of the industry’s current leader’s: Google.
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Company unlikely to continue supporting Google Wallet
The telecom company has supported Google’s own mobile wallet application, called Google Wallet, since its release last year. Google Wallet has been subject to criticism lately concerning the plethora of security issues that marred its early life. Sprint has opted to develop its own mobile wallet platform and does not believe that supporting both Touch and Google Wallet to be a viable practice.
Touch to compete with Isis
Sprint is billing the Touch mobile wallet as a “legitimate alternative to Isis.” Isis is a joint venture established by Verizon Wireless, AT&T, and T-Mobile. It has emerged as one of the most anticipated and well-received mobile payment platforms to date. The NFC-based platform has attracted support from all of the world’s major credit and financial institutions, but Sprint believes its Touch will be capable of competing with Isis.