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Press Release
ViVOtech
Unveils First End-to-End NFC Phone Payment Solution
New
NFC Solution Designed to Propel Acceptance Rate, Provide Secure
Infrastructure.
SANTA
CLARA, Calif. September 26, 2005 – ViVOtech, the
leading supplier of contactless payment solutions, today announced
the industry’s first end-to-end Near Field Communication (NFC)
payment solution. The new ViVOnfc solution provides a secure infrastructure
that will accelerate the adoption and usage of NFC enabled mobile
phones.
With
ViVOnfc, users with NFC phones will be able to “carry their
credit and debit cards virtually” and make contactless payments
at merchant locations. NFC technology provides short-range wireless
connectivity—over a typical distance of just 2-4 inches. Since
NFC devices do not operate over a carrier’s radio spectrum,
they can be used anywhere.
Designed
specifically to meet the stringent security and encryption requirements
of the payments industry, ViVOtech’s end-to-end NFC Contactless
solution package includes:
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An over-the-air (OTA) provisioning infrastructure which allows
issuers to securely download a variety of “soft cards”
over the carrier’s radio spectrum into NFC phones. These
include credit, debit, prepaid, loyalty and gift cards. This server
based software was developed for both card issuers and cell phone
operators.
-
ViVOwallet software which allows consumers secure access to soft
cards directly on their NFC mobile phone screen. This software
also provides transaction reporting functions such as balances,
history, service discovery, and eCoupons.
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A Midlet software package that provides secure communications
between the NFC phone and the growing number of merchant locations
that are being equipped to accept Contactless payments. More than
100,000 ViVOtech Contactless payment readers have been installed
in fast-food restaurants, convenience stores, drug stores, drive-thru
retailers, and gas stations.
"Contactless
payments are quickly becoming a reality and are an important frontier
for the consumer payments industry,” said Ed Kountz, senior
analyst, Bank Cards, at Tower Group. “And with the mobile
phone as one potential emerging payments form-factor, support for
the NFC protocol will become even more important.”
“ViVOtech
is committed to delivering solutions that advance NFC Contactless
technology,” said Michael Mullagh, CEO of ViVOtech. “Over
the next 6-9 months, ViVOnfc will be deployed in numerous pilot
programs around the world. We will continue to play a leading role
in working with card associations, card issuers, mobile phone operators
and phone manufacturers to develop the infrastructure needed to
support payment capability in the millions of NFC enabled devices
expected to be in the market by the 2006 holiday season.”
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, PDAs and identity
cards. The company’s products are backwards compatible with
today’s existing PoS infrastructure, providing seamless upgrades.
With more than 90,000 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. In 2005, ViVOtech received the prestigious
Frost & Sullivan technology award for its role in transforming
the contactless payment industry.
For
Pictures of NFC enabled mobile phones, click here.
Editorial
Contact:
Janice Mackey
Weber Shandwick, for ViVOtech
408-530-8400 ex 2223
jmackey@webershandwick.com
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