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Hands-on with ISIS Mobile Wallet [Video]

If the name Isis Mobile Wallet rings a bell, you'll be pleased to know that the NFC-based payment system is making its first real debut here at SXSW 2012—and today, we were shown a clear, step-by-step demo of how it will work.

Isis, or the yet-to-be-released mobile payment system is a joint venture between major US credit card companies Visa, MasterCard and American Express, and the three major wireless carriers in the country, AT&T, Verizon Wireless and T-Mobile. Check out our video below to see it in full-fledged action.

The way to use it is definitely reminiscent of Google Wallet. To make a mobile payment, you load up the app, select the credit card you want to use (paired with Isis) or another payment type of your choosing, and tap your phone to the sensor. And you're done. Like Google Wallet, you can redeem loyalty cards within the app, so you don't have to carry around those superfluous membership cards on your keychain.

In case you've forgotten, Isis is slated to roll out in both Austin and Salt Lake City this coming summer 2012, with the rest of the nation to follow. If you're curious to learn more about this payment method of the future, you can hit up the official information here.