Mobile payments 2.0: new disruptors and a new hope


“If you build it, who will care?”

That pretty much sums up the last few years in the mobile payments space, as banks scrambled to remain relevant and mobile carriers tried to grab a piece of the pie. So began the mobile wallet revolution – the answer to the question nobody asked.

The Big Kahuna of the mega-wallets – or at east the poster child for wasted effort – is Isis, the mutli-vendor project with a fat budget and a roster of tier 1 backers, including Chase, Wells Fargo, and three of the Big Four carriers. Isis is adding users, and brands we know are seeing a trickle of  transactions, but at its core, the program is not creating much new value.

The problem is that Isis and its kin aren’t offering anything particularly new. Users are comfortable with swipe cards, which, thanks to Square, work just about…

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