ISIS Earmarking $100M to Challenge Google Wallet

Google Wallet is a mobile application service that will let owners of Sprint's Samsung Nexus S 4G smartphones use their phone as a wallet at some 20 retailers and restaurants.

Point-of-sale system made to pay for goods

Users tap their phones to a point-of-sale system made to pay for goods. Citi, MasterCard and First Data are enabling payments for Google Wallet, which leverages nearly field communication to enable the smartphones and point-of-sale terminals to process purchase transactions.

ISIS' access points for mobile payments are far superior. Google has only secured Sprint and its Nexus S 4G phone for the NFC-based service. The carriers will be able to offer ISIS across multiple NFC-based Android 2.3 "Gingerbread" handsets.