Leading U.S. mobile operators AT&T, Verizon Wireless and T-Mobile have announced a new mobile payments service called Isis, which will allow customers to make payments using their mobile phones. This morning, the company announced its chief executive position has been filled by Michael Abbott, a former GE executive who spent nearly a decade focused on strategy, marketing and product development at his former company.
According to the statement Isis released today, its focus will be on building a mobile payments network that uses "smartphone and near-field communication (NFC) technology to modernize the payments process." The service will be released over the next 18 months in key geographic markets.
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