Isis to Lead the U.S. Payments Industry from Cards to Mobile Phones; Available to All Merchants, Banks and Wireless Service Providers; Venture Led By Former GE Capital Financial Executive
New York – November 16, 2010 – AT&T Mobility, T-Mobile USA and Verizon Wireless today announced the formation of a joint venture chartered with building ISIS™, a national mobile commerce network that aims to fundamentally transform how people shop, pay and save.
Isis’ initial focus will be on building a mobile payment network that utilizes mobile phones to make point-of-sale purchases. By utilizing smartphone and near-field communication (NFC) technology to modernize the payments process, Isis intends to deliver new levels of competition and value to consumers and merchants. Isis expects to introduce its service in key geographic markets during the next 18 months.
Michael Abbott has been named as Chief Executive Officer of Isis. Formerly with GE Capital, Abbott is a veteran financial services executive with extensive experience in the payment and technology industries.
“Our mobile commerce network, through relationships with merchants, will provide an enhanced, more convenient, more personalized shopping experience for consumers,” said Michael Abbott, Chief Executive Officer of Isis. “While mobile payments will be at the core of our offering, it is only the start. We plan to create a mobile wallet that ultimately eliminates the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes.”
Isis Brings Both Consumer and Merchant Scale
Founding members, AT&T Mobility, T-Mobile USA and Verizon Wireless, collectively provide wireless services to more than 200 million consumers who will have access to the Isis service. Isis is working with Discover Financial Services’ payment network, currently accepted at more than seven million merchant locations nationwide, to develop an extensive mobile payment infrastructure for the joint venture.
Barclaycard US, part of Barclays PLC, is expected to be the first issuer on the network, offering multiple mobile payment products to meet the needs of every customer.
“We believe the venture will have the scope and scale necessary to introduce mobile commerce on a broad basis. In the beginning, we intend to fully utilize Discover’s national payment infrastructure as well as Barclaycard’s expertise in contactless and mobile payments,” said Abbott. “Moving forward, Isis will be available to all interested merchants, banks and mobile carriers.”
How It Works
The new venture will enable contactless mobile payment and commerce services using near-field communication technology. NFC uses short-range, high frequency wireless technology to enable the encrypted exchange of information between devices at a short distance. The new system is being designed and built to include strong security and privacy safeguards.
About Isis
The joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building ISIS™, a national mobile commerce network that will fundamentally transform how people shop, pay and save. The Isis mobile commerce network will be available to all merchants, banks and mobile carriers. ISIS is a trademark of JVL Ventures, LLC in the U.S. and/or other countries. Other logos, product and company names mentioned herein may be the trademarks of their respective owners.
Talking of “Bush tax cuts” at this point, as so many seem to do when discussing the change in tax policy set to go into force this coming New Years Day, is beyond absurd. What’s coming on Jan. 1, 2011 is the Obama Tax Increase — no less than the largest tax increase in our history, courtesy of a president who, last Tax Day, declared that working Americans should be “saying thank you” for the hefty check they had to write Uncle Sam in order to support the eternally vacationing president and his increasingly out-of-control federal bureaucracy.
At a time when copious amounts of smoke and mirrors are required to even create the illusion of an economic recovery in this country, the Obama tax increases are a disaster in the making that will drive the “progressive” knife further into the backs of the American working man and woman.
In their zealous, rigidly ideological desire to both fund their pet programs (like the $800 billion ”porkulus” project) and lavish state trips and to punish the nefarious “rich” who dared to be successful in a country built on merit-based reward, the president and his party — neither of whom are particularly perceptive when it comes to unintended consequences — are setting up the working class not only for an increase in taxes, but a decrease once again in employment and profitability.
The Obama Tax Increases aren’t, of course, limited just to those eeeevil “rich.” Rather, they will directly affect every American who currently pays into our bloated federal system, and in more than one way.
Back in July, Americans for Tax Reform released an outstanding one-pager on what we can expect when the Obama Tax Increases kick in January 1. Here are a few highlights:
- 10% [income tax] bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%
The marriage penalty will be expanded and the child tax credit reduced, and “the capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013″ (ATR, same citation). Adding further insult and hardship to this is the return of the Death Tax, which is set to jump from 0 to 55%, meaning that over half of what you leave to your children when you die will go directly into Barack Obama and the Federal Government’s pockets. It may be time to start hiding that inheritance cash under a mattress or loose floorboard, unless you really do wish to will Obama & Co. as many rounds of golf and $200m/day Indian vacations as half-plus-five of your legacy can purchase.
The ramifications of the Obama Tax Increases for working class Americans are not limited to money being directly lifted from their paychecks and investment returns by the federal government, though. The fact is, even if the tax increases on the low and middle income portion of the work force (arguable and elastic designations both) are done away with by a lame duck session of the Democrat-led 111th Congress, and increases are put in place only for the “rich,” money — and, worse, jobs — will still be taken directly from working class Americans.
In June, economist Arthur Laffer wrote the following about the looming Obama Tax Increase:
…if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.
Also, the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010. In my view, this shift of income and demand is a major reason that the economy in 2010 has appeared as strong as it has. When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe “double dip” recession.
This was put much more casually and accessibly by Senator-elect Rand Paul (R-KY) on Tuesday night, when he responded to Wolf Blitzer’s on-air inquiry about the wisdom of a tax increase “on only the wealthiest Americans — those making $250,000 a year or more.” Paul said (paraphrase), “We all make a living working for, or selling things to, ‘rich’ people,” so taking more money out of their pockets directly affects the people whose livelihoods depend on that work and those sales.
Spot on.
Unfortunately, extravagant vacations and failed spending programs require capital — and the easiest way for the current administration to gain that is to simply take more of it, at the point of a gun, from the people who currently have it.
As Nathan Wurtzel wrote Wednesday on Twitter, following the president’s amazingly out-of-touch post-election press conference, “People who are scared of freedom bitterly cling to their government and spending” — a play (albeit a true one) on the ivory tower president’s campaign statement that when those wrong-headed, uneducated Americans “get bitter, they cling to guns or religion or antipathy to people who aren’t like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustration.”
Given the penchant this president and his party have already shown for thumbing their collective nose at the wishes of the American people (on the “stimulus,” on Obamacare, etc.), and for referring to those who dare question their policies as “unpatriotic, “dangerous to our democracy” and “our enemies,” it should be no surprise that the outcry of the citizenry, demonstrated both in protests and at the ballot box, would be swept aside by “progressives” who clearly believe they simply know better than everybody else what this country and its people need.
bench craft company reviews
Real Estate <b>News</b>: Home Mortgage Rates Stabilize - Developments - WSJ
Here is a look at real-estate news in today's WSJ:
Last Look: Style <b>News</b> You Might Have Missed (PHOTOS, POLL)
Welcome to Last Look, where we round up the Style scraps that didn't make it to our news page this week. Click through and catch up on what else happened since Monday!
Miller returns to net tonight - Sabres Edge - Blogs - The Buffalo <b>News</b>
The Buffalo News updated every day with news from Buffalo, New York. Links to national and business news, entertainment listings, recipes, sports teams, classified ads, death notices.
bench craft company reviews
Real Estate <b>News</b>: Home Mortgage Rates Stabilize - Developments - WSJ
Here is a look at real-estate news in today's WSJ:
Last Look: Style <b>News</b> You Might Have Missed (PHOTOS, POLL)
Welcome to Last Look, where we round up the Style scraps that didn't make it to our news page this week. Click through and catch up on what else happened since Monday!
Miller returns to net tonight - Sabres Edge - Blogs - The Buffalo <b>News</b>
The Buffalo News updated every day with news from Buffalo, New York. Links to national and business news, entertainment listings, recipes, sports teams, classified ads, death notices.
bench craft company reviews
AT&T, T-MOBILE AND VERIZON WIRELESS ANNOUNCE JOINT VENTURE TO BUILD NATIONAL MOBILE COMMERCE NETWORK
Isis to Lead the U.S. Payments Industry from Cards to Mobile Phones; Available to All Merchants, Banks and Wireless Service Providers; Venture Led By Former GE Capital Financial Executive
New York – November 16, 2010 – AT&T Mobility, T-Mobile USA and Verizon Wireless today announced the formation of a joint venture chartered with building ISIS™, a national mobile commerce network that aims to fundamentally transform how people shop, pay and save.
Isis’ initial focus will be on building a mobile payment network that utilizes mobile phones to make point-of-sale purchases. By utilizing smartphone and near-field communication (NFC) technology to modernize the payments process, Isis intends to deliver new levels of competition and value to consumers and merchants. Isis expects to introduce its service in key geographic markets during the next 18 months.
Michael Abbott has been named as Chief Executive Officer of Isis. Formerly with GE Capital, Abbott is a veteran financial services executive with extensive experience in the payment and technology industries.
“Our mobile commerce network, through relationships with merchants, will provide an enhanced, more convenient, more personalized shopping experience for consumers,” said Michael Abbott, Chief Executive Officer of Isis. “While mobile payments will be at the core of our offering, it is only the start. We plan to create a mobile wallet that ultimately eliminates the need for consumers to carry cash, credit and debit cards, reward cards, coupons, tickets and transit passes.”
Isis Brings Both Consumer and Merchant Scale
Founding members, AT&T Mobility, T-Mobile USA and Verizon Wireless, collectively provide wireless services to more than 200 million consumers who will have access to the Isis service. Isis is working with Discover Financial Services’ payment network, currently accepted at more than seven million merchant locations nationwide, to develop an extensive mobile payment infrastructure for the joint venture.
Barclaycard US, part of Barclays PLC, is expected to be the first issuer on the network, offering multiple mobile payment products to meet the needs of every customer.
“We believe the venture will have the scope and scale necessary to introduce mobile commerce on a broad basis. In the beginning, we intend to fully utilize Discover’s national payment infrastructure as well as Barclaycard’s expertise in contactless and mobile payments,” said Abbott. “Moving forward, Isis will be available to all interested merchants, banks and mobile carriers.”
How It Works
The new venture will enable contactless mobile payment and commerce services using near-field communication technology. NFC uses short-range, high frequency wireless technology to enable the encrypted exchange of information between devices at a short distance. The new system is being designed and built to include strong security and privacy safeguards.
About Isis
The joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building ISIS™, a national mobile commerce network that will fundamentally transform how people shop, pay and save. The Isis mobile commerce network will be available to all merchants, banks and mobile carriers. ISIS is a trademark of JVL Ventures, LLC in the U.S. and/or other countries. Other logos, product and company names mentioned herein may be the trademarks of their respective owners.
Talking of “Bush tax cuts” at this point, as so many seem to do when discussing the change in tax policy set to go into force this coming New Years Day, is beyond absurd. What’s coming on Jan. 1, 2011 is the Obama Tax Increase — no less than the largest tax increase in our history, courtesy of a president who, last Tax Day, declared that working Americans should be “saying thank you” for the hefty check they had to write Uncle Sam in order to support the eternally vacationing president and his increasingly out-of-control federal bureaucracy.
At a time when copious amounts of smoke and mirrors are required to even create the illusion of an economic recovery in this country, the Obama tax increases are a disaster in the making that will drive the “progressive” knife further into the backs of the American working man and woman.
In their zealous, rigidly ideological desire to both fund their pet programs (like the $800 billion ”porkulus” project) and lavish state trips and to punish the nefarious “rich” who dared to be successful in a country built on merit-based reward, the president and his party — neither of whom are particularly perceptive when it comes to unintended consequences — are setting up the working class not only for an increase in taxes, but a decrease once again in employment and profitability.
The Obama Tax Increases aren’t, of course, limited just to those eeeevil “rich.” Rather, they will directly affect every American who currently pays into our bloated federal system, and in more than one way.
Back in July, Americans for Tax Reform released an outstanding one-pager on what we can expect when the Obama Tax Increases kick in January 1. Here are a few highlights:
- 10% [income tax] bracket rises to an expanded 15%
- The 25% bracket rises to 28%
- The 28% bracket rises to 31%
- The 33% bracket rises to 36%
- The 35% bracket rises to 39.6%
The marriage penalty will be expanded and the child tax credit reduced, and “the capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013″ (ATR, same citation). Adding further insult and hardship to this is the return of the Death Tax, which is set to jump from 0 to 55%, meaning that over half of what you leave to your children when you die will go directly into Barack Obama and the Federal Government’s pockets. It may be time to start hiding that inheritance cash under a mattress or loose floorboard, unless you really do wish to will Obama & Co. as many rounds of golf and $200m/day Indian vacations as half-plus-five of your legacy can purchase.
The ramifications of the Obama Tax Increases for working class Americans are not limited to money being directly lifted from their paychecks and investment returns by the federal government, though. The fact is, even if the tax increases on the low and middle income portion of the work force (arguable and elastic designations both) are done away with by a lame duck session of the Democrat-led 111th Congress, and increases are put in place only for the “rich,” money — and, worse, jobs — will still be taken directly from working class Americans.
In June, economist Arthur Laffer wrote the following about the looming Obama Tax Increase:
…if people know tax rates will be higher next year than they are this year, what will those people do this year? They will shift production and income out of next year into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower than it otherwise should be.
Also, the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010. In my view, this shift of income and demand is a major reason that the economy in 2010 has appeared as strong as it has. When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe “double dip” recession.
This was put much more casually and accessibly by Senator-elect Rand Paul (R-KY) on Tuesday night, when he responded to Wolf Blitzer’s on-air inquiry about the wisdom of a tax increase “on only the wealthiest Americans — those making $250,000 a year or more.” Paul said (paraphrase), “We all make a living working for, or selling things to, ‘rich’ people,” so taking more money out of their pockets directly affects the people whose livelihoods depend on that work and those sales.
Spot on.
Unfortunately, extravagant vacations and failed spending programs require capital — and the easiest way for the current administration to gain that is to simply take more of it, at the point of a gun, from the people who currently have it.
As Nathan Wurtzel wrote Wednesday on Twitter, following the president’s amazingly out-of-touch post-election press conference, “People who are scared of freedom bitterly cling to their government and spending” — a play (albeit a true one) on the ivory tower president’s campaign statement that when those wrong-headed, uneducated Americans “get bitter, they cling to guns or religion or antipathy to people who aren’t like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustration.”
Given the penchant this president and his party have already shown for thumbing their collective nose at the wishes of the American people (on the “stimulus,” on Obamacare, etc.), and for referring to those who dare question their policies as “unpatriotic, “dangerous to our democracy” and “our enemies,” it should be no surprise that the outcry of the citizenry, demonstrated both in protests and at the ballot box, would be swept aside by “progressives” who clearly believe they simply know better than everybody else what this country and its people need.
bench craft company reviews
Real Estate <b>News</b>: Home Mortgage Rates Stabilize - Developments - WSJ
Here is a look at real-estate news in today's WSJ:
Last Look: Style <b>News</b> You Might Have Missed (PHOTOS, POLL)
Welcome to Last Look, where we round up the Style scraps that didn't make it to our news page this week. Click through and catch up on what else happened since Monday!
Miller returns to net tonight - Sabres Edge - Blogs - The Buffalo <b>News</b>
The Buffalo News updated every day with news from Buffalo, New York. Links to national and business news, entertainment listings, recipes, sports teams, classified ads, death notices.
bench craft company reviews
Real Estate <b>News</b>: Home Mortgage Rates Stabilize - Developments - WSJ
Here is a look at real-estate news in today's WSJ:
Last Look: Style <b>News</b> You Might Have Missed (PHOTOS, POLL)
Welcome to Last Look, where we round up the Style scraps that didn't make it to our news page this week. Click through and catch up on what else happened since Monday!
Miller returns to net tonight - Sabres Edge - Blogs - The Buffalo <b>News</b>
The Buffalo News updated every day with news from Buffalo, New York. Links to national and business news, entertainment listings, recipes, sports teams, classified ads, death notices.
bench craft company reviews
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