AT&T, T-Mobile and Verizon are coming together to form a quick pathway for your money to get to where it wants to be going, straight from your phone. And with the three giants covering just about everyone using a mobile, that’s a rather large pie they’ll be getting a piece of.

The system itself, called Isis, lets you use an app to send payments to a POS system using Near Field Communication technology. I don’t know what that means, but I’m assuming with a fair degree of certainty that it’s supposed to work.

Between them, the networks have about 200 million users, and they expect Isis to become the Paypal-of-the-future. It’s going to start functioning across major regions during the following 18 months, and Verizon went as far as to claim that, given the encryption capabilities of Near Field Communication, it’s bound to replace credit cards and even cash. But that be somewhat of a mistake.

And I’ll tell you why too. If someone steals your wallet, it takes time and expertise to take money off your cards. But if someone steals your payment enabled phone, they can offload all your money through a chain of bank accounts and online payment systems in a matter of minutes, dump the phone, and you’ve just lost all your money in the online maze of payment ecosystems and offshore banks as quickly and painlessly as a thief’s hand in your pocket.

Listen, buddy – I mean you – Verizon, I know you’re pretty big and all, but it should be plenty clear to all by now that the one thing that’s going to replace cash is Facebook. I don’t know how yet, and neither does Facebook, but that’s unimportant.

It’ll happen, replacing Email with Facemail is just the first step, when the time comes, Facebook will find a way for you to pay with your face.

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luca