Isis, a joint venture company conjointly owned by AT&T Mobility, Verizon Wireless and T-Mobile USA, announced the new partnership with Visa, MasterCard, Discover and American Express — all four of the major US payments networks.

"Isis' relationships with all four payment networks means that with Isis-enabled phones and payment terminals in place, merchants and consumers will have ubiquity and freedom of choice when it comes to payment network acceptance," says the company.

"Since the formation of Isis in November, we have been committed to building a mobile commerce platform that aligns and advances the interests of consumers, merchants and banks," said Michael Abbott, chief executive officer for Isis. "By working with the nation's payment networks — Visa, MasterCard, Discover and American Express — we significantly advance the vision of an open and secure platform that provides banks and merchants with a new and highly relevant way to connect with consumers."

"We fully support an open commerce ecosystem which will drive the scale necessary for widespread adoption of mobile payments, providing consumers with exciting new possibilities for shopping and saving," added Ajay Banga, president and chief executive officer of MasterCard Worldwide. "Our work with Isis reinforces MasterCard's commitment to the continued development, innovation and evolution of mobile payments technologies."