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ViVOtech announces ViVOpay 5000 contactless reader for use with Visa’s Globally Interoperable Contactless Payment Specification

Contactless Payment Leader’s ViVOPay 5000 Receives Visa Asia Pacific Level 3 Type Approval

SANTA CLARA, Calif., May 16, 2007 – ViVOtech, the leading supplier of contactless payment solutions, today announced that its ViVOpay 5000 can be used with Visa contactless programs in the Asia Pacific region. The ViVOpay 5000 reader supports Visa’s globally interoperable contactless payment specification (Visa Contactless Payment Specification 2.0.2) as well as existing Visa Asia Pacific EMV-based contactless programs. This assures buyers in Asia Pacific that the ViVOpay 5000 reader adheres to stringent usability, reliability, and security requirements for use with Visa contactless programs.

The ViVOpay 5000 is ViVOtech’s best selling product in countries where EMV smart cards are currently being adopted in record numbers. In order to support Visa contactless payments, products are submitted to an independent laboratory to undergo rigorous testing to demonstrate software stability, card data security and interoperability.

Visa type approval represents an industry-recognized level of performance and quality that demonstrates an extra layer of confidence for banks and retailers in their decision to partner with ViVOtech.

“The availability of the ViVOpay 5000 reader for Visa contactless programs is important in Asia Pacific since it meets Visa’s requirements for both new and existing contactless programs,” said Paul Jung, Head of Emerging Products and Technologies, Visa International Asia Pacific. “This is an important milestone in enabling banks and retailers to implement globally interoperable contactless payment programs”.

“The adoption of contactless payments are growing throughout the world as more and more retail customers are embracing new technologies that ensure a quick, easy and secure way to pay,” said Mohammad Khan, President & Founder of ViVOtech. “This hyper-growth is fueling the large demand for certified products from recognized brands that both retailers and consumers alike can trust. With ViVOpay 5000, retailers are assured they are buying a product that sets the standard in contactless payments for customer usability, performance, and security as well as ensuring the product will be embraced by their customers all over the globe.”

About the ViVOpay 5000
The ViVOpay 5000 is an intelligent payment reader that features advanced contactless functionality in a flexible architecture. Key benefits for merchants include:

• Compatibility: Compatible with all worldwide contactless payment programs run by major organizations
• Interactive Display: Directs consumers through the contactless buying process with helpful prompts
• Low Cost: Upgrading existing POS systems costs only a fraction of replacement for new contactless-enabled POS terminals
• Scalability: Expandable memory slot for additional applications including prepaid and loyalty as well as quick offline transactions
• Quality: Is well known for its good quality as needed for well managed support by merchants and banks

About ViVOtech
ViVOtech (www.vivotech.com) is a market leader in contactless/NFC payment software, over the air (OTA) card provisioning, promotion, and transaction management infrastructure software, NFC smart posters, and contactless readers/writers. 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 250,000 units in 22 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 2007, ViVOtech was named #1 in New ABI Research contactless reader ranking. ViVOtech was also recognized as Top Contactless Payment Technology Vendor in Aberdeen Group’s “Retail Contactless Payment Report”.