Isis chief executive Michael Abbott told attendees at the Mobile World Congress event in Barcelona that a foundation has been built for mobile payments, which will pave the way for the broader adoption of the technology.
The project is a joint venture between AT&T, T-Mobile US and Verizon Wireless, and was launched in November.
Mr Abbott revealed his optimism for the mobile payments industry, stating that the world will see 300 million smartphones shipped that are capable of using Isis' mobile payments system.
As well as Mr Abbott discussing his optimism for the success of the technology, the Mobile World Congress also saw a range of companies expressing their interest in the payment solution.
According to Mobile World Live, Ajit Joshi, chief executive of India’s Infiniti Retail, a part of the Tata Group, said: “We would welcome Isis at any time. A solution like this is music to our ears.”
By Claire Archer