Telecommunications giant AT & T, T-Mobile and Verizon Wireless invests $ 100 million in a joint venture to enable consumers to make purchases using their mobile phones, according to new reports.
Some industry experts believe that the initiative taken by the trio is a desperate attempt by the telecommunications giants to deal with similar services from rivals such as the Mountain View-based search giant Google Inc.
Nicknamed "Isis", companies have not yet been officially revealed no precise figure for the overall funding.
So more or less, funding for the program still relies heavily on responses from retailers and banks, according to a report from Boston.com.
Apparently Boston.com report citing an unnamed source with direct knowledge of current issues regarding the new company.
"It is certain that people would be to consider about mobile phones. An independent wireless can open a new potential revenue stream for them, "says the report Boston.com.
