Phantom power is used for microphones with "built-in" electronics. These mic's, receive a DC voltage through the mic cable that powers the internal electronics. I have never ran into wireless microphones that require Phanto power, so I will assume that your wireless problem(s) is being caused by something else. http://en.wikipedia.org/wiki/Phantom_power

Mics which require a battery can be used with out a battery when the phantom power button is pressed