Electronic Payment Enabling Technology Award

ViVOtech Honored with Frost & Sullivan Electronic Payment Enabling Technology Award

Company Recognized for Technological Innovation
and Role in Accelerating Market Momentum

Click here for full text on the Frost and Sullivan findings on ViVOtech.

Santa Clara, CA, May 25, 2005 –ViVOtech today announced that it has received the coveted 2005 Frost & Sullivan Electronic Payment Enabling Technology of the Year Award for its role in transforming the contactless payment industry. The award recognizes ViVOtech’s innovative payment solutions that have improved the consumer experience and have helped to accelerate global market acceptance of contactless technology.

“We selected ViVOtech for the Award because their ground-breaking technology is driving the contactless payment market forward and into new frontiers” said Pallab Roy, industry manager at Frost & Sullivan. “ViVOtech’s ViVOpay contactless readers, ViVOwallet payment device software, and its quick adoption technologies have created much needed momentum in the marketplace, which, in turn, has had a profound impact throughout the industry, and is likely to have a global impact.”

Award nominees in the Electronic Payment Enabling Technology category were selected based on the company’s ability to:

• Develop technology that can be quickly adopted in the marketplace
• Deliver solutions that generate immediate benefits to the retailer and consumer
• Be recognized as a technology leader by industry partners including the card associations, card issuers, retailers, ISO's, and merchant acquirers
• Participate in national pilot programs that delivered tangible results
• Commercialize its technology to become a payment industry standard

“We are pleased that Frost & Sullivan has recognized our pioneering efforts in the contactless payment marketplace,” said Michael Mullagh, CEO of ViVOtech. “Our primary goal has been to bridge the gap between the retailer and consumer while delivering increases in speed, convenience, transaction value, and loyalty to merchants.”

ViVOtech’s products allow consumers to make contactless payments with a specially developed radio frequency (RF) contactless device that can be built into anything from cell phones, to key fobs to credit and debit cards. This solution lets cardholders make purchases at existing contactless enabled electronic fund transfer point-of-sale (EFT POS) systems without swiping their card. Users simply tap or wave their card or cell phone on or near a ViVOpay-enabled POS terminal and the transaction is completed in a convenient and secure manner.

Click here for full text on the Frost and Sullivan findings on ViVOtech.

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

About ViVOtech

ViVOtech provides an end-to-end transaction platform that allows consumers to make contactless payments with radio frequency-enabled credit cards, debit cards, key fobs, cell phones, and identity cards. The company’s products are backwards compatible with today’s existing PoS infrastructure, providing seamless upgrades. With more than 70,000 of its contactless payment readers deployed around the world, ViVOtech products are found in Fast Food Restaurants (QSR), Casual Dining Establishments, Corporate Cafeterias, Parking Garages, and Movie Theaters as well as Convenience, Grocery, and Drug Stores. ViVOtech is headquartered in Santa Clara, Calif., with offices in Europe and Asia.

Editorial Contact:
Janice Mackey
Weber Shandwick, for ViVOtech
408-530-8400 ex 2223
jmackey@webershandwick.com

Sales Contact:
Naz Uzmani
408.248.7001 x 105
naz@vivotech.com

ViVOtech, ViVOgiftcard, ViVOpay, ViVOwallet and ViVOcard and are registered trademarks of ViVOtech, Inc. Other brand and product names are registered trademarks or trademarks of their respective holders.