QSR Solution Press Release

ViVOtech Announces End-to-End Contactless Payment Solution for the QSR Industry that Offers Speedy Check Out, Increased Usage of Gift Cards and Dynamic Loyalty Programs

Launches Industry First ViVOpay- Drive Through (DT)

LONG BEACH, TEC 2003, Calif., Oct. 27, 2003 – ViVOtech, a leader in the lifestyle payment business today announced an end-to-end solution comprising ViVOpay reader, ViVOpay platform and ViVOpay Drive Through (DT) products and services that cater to the unique needs of the Quick Service Restaurants (QSRs). ViVOtech’s customized solution allows QSR operators to speed up customer lines by enabling contactless payments that are faster than cash and safer than checks, offer QSR-branded contactless gift cards to enhance loyalty programs and validate contactless gift cards electronically. The solution is also designed to accept the recently introduced open system contactless payment devices from leading card companies. Additionally, ViVOtech’s ViVOpay- Drive Through (DT) contactless payment reader is an industry first that enables acceptance of QSR-branded contactless gift cards and has been designed for drive through locations to allow customers to pay by simply waving their preferred payment device in front of the ViVOpay DT reader.

According to an article that appeared in Fortune’s March 2003 issue, every five seconds of delay in making a payment by a customer may equate to $98,000 in lost revenue per year per QSR site. Cash transactions that take an average of 9-12 seconds can be reduced to as low as 3 seconds using ViVOtech’s end-to-end payment solution clearly indicating the solution’s strength in reducing cash transactions and providing a faster check out at the same time. ViVOtech’s end-to-end solution delivers operational savings as well as additional revenues and connects seamlessly with the existing POS systems with little or no software upgrades. The new payment solution offers enhanced speed, convenience and flexibility to the QSR customers.

Long customer queues at the QSR counter and drive through areas is a challenge that all QSRs face. Additionally, it is difficult for a QSR to measure customer loyalty paying with cash. However, using ViVOtech’s end-to-end solution that is faster than cash, QSRs can offer branded contactless gift card program to replace cash transactions and promote loyalty. The ViVOplatform software along with the services provides the requisite ability for card activation, card acceptance, reloading, balance inquiry, instant discounts, and online customer services for QSR gift card functionality. This new functionality enables QSRs to differentiate them from competition and create more mind share for their branded products.

“The market for POS systems for the QSR industry stands large at just under a million and we clearly understand the unique needs of the QSR operators. We have developed a customized solution that helps them increase business and improve their bottom line as well as offer their customers a delightful payment experience– fast, flexible, secure and extremely convenient,” said Jorge Fernandes, CEO and co-founder of ViVOtech.

ViVOtech’s ViVOpay Drive Through (DT) product is a weatherized contactless payment reader that connects to payment devices at the drive-through lanes at QSR restaurants collecting information securely and sending it through the existing cash register system to process the credit cards.

In the past, ViVOtech has provided contactless payment solutions for a leading credit card company for trials in Orlando, FL and Dallas, TX. ViVOtech’s contactless solutions are currently installed at various fast food and casual dining restaurants, and other high traffic retailers in multiple cities in and outside of United States

The new products announced today will be available in December 2003.

About ViVOtech, Inc.
ViVOtech, a leader in lifestyle payment transactions, provides breakthrough software technology that allows consumers to make contactless payments in a style that best fits their needs – with a radio frequency (RF) enabled credit or debit card in various form factors, an infrared/RF enabled cell phone, PDA or an access card at existing point-of-sale (POS) systems. ViVOtech’s software allow banks, retailers, merchant acquirers and wireless operators to offer a choice of preferred payment devices to target their customers such that they enjoy a convenient, secure and fast payment experience and in turn benefit from additional revenue and cost savings. Up until now, contactless payments faced an insurmountable obstacle to growth - billions in cost to replace or upgrade the installed base of 30 million merchant POS terminals. ViVOtech is defining the new wave of money with its innovative and cost effective solutions helping you make contactless payments that are faster than cash, safer than checks. ViVOtech is headquartered in Santa Clara, Calif., with offices in Europe and Asia.

Editorial Contact :
Seema Kalra
Weber Shandwick, for ViVOtech
408.559.6090
skalra@webershandwick.com

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