The biggest competition it may face is from the tech giants: Alphabet, Amazon and Apple.
Williams noted that Apple Pay is secure, but you can't use it everywhere. "Imagine adding NFC to every parking meter. It's expensive to do that."
Williams pointed out that Alphabet's Google is experimenting with technology similar to Lisnr but said Lisnr is 12 times faster. Another advantage Lisnr claims is being technology-agnostic.
"We have a purpose to work everywhere," he said. "That's not Google's purpose. Google's purpose is to enable Android. Our purpose is to enable Linux, Windows, iOS to talk to Android and Android to talk to an embedded system. That's the difference between creating a communication platform versus a product."
"What Google has proved is that there is a value in the technology, and we are proving it's bigger than a single platform," Williams said.
Google's most successful use case for the technology has been in India, where it works as a mobile wallet payment solution, he said. "India has security issues and data constraints because it costs a lot to transfer data. Sound is less data-intensive and more secure than a QR code."
Lisnr will be launching a few partnerships in India this year, though Williams declined to name partners. He said Asia as a whole represents roughly 40 percent of its business.
The Lisnr CEO expects the personal artificial intelligence and home assistant market led by Amazon Echo, Google Home and Apple HomePod to push into this area. But Williams said similar security issues will surface because data from cloud-based voice services, such as Alexa, can be hacked or mimicked.
"They're really going to be using it," he said.
"There [are] always bad actors," Williams said on CNBC. "But a bad actor still has to intrude your device. And that intrusion happens through USB and any other methods of downloads to a particular device. That intrusion could use Bluetooth, WiFi or any other way to cause mischief on your device."
Lisnr's data transmission through ultrasonic audio bypasses this process. "Voice-enabled services should detect you using something else. That's us," he said.
"It's actually a standard that could apply significant security to the entire world of ultrasonic use," Williams said.
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