In an emailed statement, Isis marketing head Jaymee Johnson confirmed the launch day and said 20 mobile phones that are Isis-ready would be in the market by year's end to take advantage of the Isis network.

All the phones are NFC-ready, meaning they contain an NFC (near field communications) radio chip that communicates with an NFC terminal for making payments using a smartphone, Isis said.

Isis previously confirmed a number of retailers, gas stations and transit providers that will be equipped to handle the NFC payments. The NFC phones also contain special security, known as a "secure element" inside, which protects a customer's credit card information. There has been a debate between banks and other parties to mobile commerce as to whether the secure element should remain in the phone -- either on a SIM card or embedded in the phone's core -- or be should located in the cloud.

Johnson said in mid-September that Isis would not launch its mobile payment system by the end of the summer as previously planned, but did not offer a date for the launch until today.

made up of three wireless carriers -- Verizon Wireless, AT&T and T-Mobile. Reports have speculated which would be supported, but Isis has not confirmed them. One new smartphone, Samsung's , has an NFC chip that can be used to transfer data, but would require a special Isis app to authorize a payment. With the app, a user makes a quick swipe close to an NFC terminal to transfer money.