NEW YORK — Three of the country’s leading cellphone carriers have formed a joint venture that envisions allowing people to make purchases with their mobile phones.
They said the technology they plan to introduce could eventually eliminate any need for cash, credit cards, or transit system passes. Payment would be made with the wave of a cellphone.
Verizon Wireless, AT&T Inc., and T-Mobile USA, in a joint venture called ISIS, plan to roll the service out in certain regions of the country over the next year and a half.
They said Barclaycards US, a division of the British bank Barclays PLC, will be the first bank to offer a mobile payments service on the network.