Isis CEO Says Foundation in Place for Mobile Payments

In his keynote speech at the Mobile World Congress, Isis CEO Michael Abbott said that he expects adoption of mobile payments to take off this year. “I believe a foundation is in place,” he said. Abbott noted in the three months since Isis launched nationwide it has seen its user base grow by a steady 50 percent each month, with two-thirds of users adding a credit card to their mobile wallet in that time and users making six to seven contactless payments a month. Abbott expects these numbers to keep growing with 300 million Isis-capable smartphones expected to ship in 2014. He also noted 95 percent of new point-of-sale terminals are NFC-capable along with 90 percent of mobile devices—including iPhones, which can be modified with special covers to support NFC. Abbott said Isis is relying on its many partners to help create awareness for the service. “This can’t be just about Isis,” he said. “We can’t do it alone.”

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From “Isis CEO: Foundation Is Here for Mobile Payments”
CNet (02/25/14) Cheng, Roger