North American Bancard Press Release

North American Bancard Secures Contactless Payment Solution from ViVOtech

Top Acquirer Purchases State-of-the-Art Reader

September 11, 2006 – Troy, Michigan – North American Bancard, one of the largest MSP/ISOs in America, announced today it has bought 3,000 ViVOpay® 4000 contactless readers from ViVOtech, the leading supplier of contactless payment solutions. Continuing on its path to offer the latest in payment solutions, NAB will be including the ViVOpay 4000 in its innovative Free Terminal Program offerings. The ViVOpay 4000 reader is being coupled with the VeriFone Vx570 terminal to create the best-in-breed contactless payment solution in NAB’s repertoire of free products and is ready for deployment.

“Contactless payment is not just the wave of the future, it is here now and is expanding exponentially,” says Marc Gardner, President of North American Bancard. “We recognize the accelerated growth of the contactless payment market. Because of that, we are fully committed to providing our sales partners with the most advanced technology available today. The ViVOpay 4000 is a prime example of that kind of technology and integrates dynamically within the structure of our leading Free Terminal Program. We are very happy with the functionality of this product and even more delighted with the quality of service we receive from ViVOtech.”
The ViVOpay 4000 is the most popular add-on contactless payment device in the market today. With a flexible design, the device can be easily added to wide variety of existing POS terminals, ECR systems, countertops, windows and a variety of other surfaces and integrates with the existing merchant system. The ViVOpay 4000 is the only reader certified for all contactless payment programs, including MasterCard® PayPass™, Visa contactless, ExpressPay® from American Express™ and Discover® contactless.
“MasterCard recently announced that only 32,000 merchants currently have PayPass,” says Gardner. “With this purchase, North American Bancard will increase contactless readers throughout the industry by 10% over the next few months!”

“More than 17 million contactless credit and debit cards have been issued in the United States in just over a year. Clearly, contactless payment is the next major wave in the payment industry”, said Mohammad Khan, President & Founder of ViVOtech. “Contactless payments are replacing cash faster than ever before, providing ISOs a great opportunity to grow revenue by processing more transactions through their existing merchants in addition to signing up new merchants who have long relied on cash only transactions.”

“If your ISO partner is not providing free contactless readers, you need to be doing business with NAB,” says Gardner. “Contactless payment is growing so quickly. Just look at all the announcements coming from card issuers regarding embedded contactless chips and new offerings of contactless payment options. This is a tremendous door-opening opportunity for our sales partners. Don’t miss out on it.”

About North American Bancard
Headquartered in Troy, Michigan, North American Bancard is a multi-faceted payment solutions provider dedicated to providing the latest technology as well as committing to the highest service levels. North American Bancard is a registered MSP/ISO of HSBC Bank USA, National Association, Buffalo, N.Y. Since 1992, North American Bancard has provided more than 50,000 clients with a full suite of products and services including Credit, Debit, EBT, Check Conversion and Guarantee, Checks by Phone and Net, ATM, Gift and Loyalty Cards as well as Online Payment Gateway solutions. For more information, visit www.nabancard.com.

About ViVOtech
ViVOtech is the market leader in contactless/NFC payment software, transaction management systems, and readers. These innovative solutions allow consumers to make contactless payments with radio frequency-enabled credit cards, debit cards, key fobs, and NFC-enabled mobile phones. ViVOtech's products are used by some of the most prominent retailers in the United States. Currently, with more than 180,000 units in 17 countries, ViVOtech's products are in use at movie theaters, fast food restaurants (QSR), casual dining establishments, convenience stores, gas stations, drug stores, grocery stores, buses, taxicabs and vending machine locations, enabling a wide variety of businesses to accept contactless/NFC payments. In 2005, ViVOtech received the prestigious Frost & Sullivan technology award for its role in transforming the contactless payment industry, as well as winning the first annual ETA Technology Innovation Award. http://www.vivotech.com.