Sprint Nextel is planning its own mobile wallet that may compete with the one it offers through Google Inc., according to a news report.

Online publication NFC Times reports the carrier's wallet, called Touch, possibly would provide an opening for banks to work with Sprint (see article).

"Sources told NFC Times that Sprint sees advantages in rolling out its own wallet, which according to the sources is named 'Touch,' " the website says. "With a wallet, Sprint could build relationships with banks and other service providers."

The Touch wallet would give Sprint a competing product to Isis, the digital wallet backed by rival carriers AT&T, Verizon Wireless and T-Mobile. Isis is being tested in Austin, Texas, and Salt Lake City.

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