ViVOtech
press release.
ViVOtech Announces Industry’s First Software Solution That
Combines RFID Technology with Retailer’s Loyalty and Prepaid/Gift
Card Programs
Now
Consumers Present Only One Card for Both Payment and Loyalty, Providing
Retailers with a Stronger and Broader Acceptance of their Programs
NEW
YORK, NY, January 17, 2005 – NATIONAL RETAIL FEDERATION
CONVENTION AND EXPO, Booth #2238 -ViVOtech, a leader in lifestyle
payment transactions, today announced a next generation software
platform that uses contactless RFID technology to integrate Loyalty
with Prepaid/Gift card transactions. One of the key issues that
retailers face today is lack of wallet share of their loyalty cards.
With ViVOtech’s solution, a consumer no longer needs to carry
a separate loyalty card to enjoy the savings and rewards through
retailer’s loyalty programs. Thus, retailers will see a boost
in the effectiveness of their loyalty programs while ensuring speedy
transactions and store efficiency through contactless technology.
Utilizing ViVOtech’s
ViVOplatform, a scalable and flexible transaction management system,
retailers can make their loyalty programs dynamic to reward their
special customers based on their lifestyle and buying habits. Retailers
will now be able to offer a self-branded contactless (RFID) card
or key fob that will function like a combined prepaid and loyalty
card.
By using contactless
(RFID) technology, retailers will be able to replace (on average)
23% of cash transactions into contactless payments. This will result
in an increase in sales as contactless transactions tend to be 20%
larger in purchase size as compared to cash transactions.
With increased
usage of Loyalty and Prepaid/Gift cards, retailers can gather valuable
consumer buying behavior data. This data can be used to target specific
consumer groups with real-time personalized promotions such as instant
rewards, cross-selling, and other loyalty awards as never before.
For the consumer, there is the benefit of having a single multi-functional
payment card that provides all the advantages of a Loyalty and Prepaid/Gift
program -- automatically earning points and redeeming them easily
and conveniently at the point of sale.
Based upon Java
J2EE software, the ViVOplatform is designed to handle multiple databases
and/or operating systems such as Windows®, Linux®, Unix®,
and Solaris®, guaranteeing future scalability and support for
custom applications or advanced promotional and loyalty applications
down the road. It is designed to easily interface with retailer’s
legacy systems and financial networks using ISO 8583 messages and
IP connectivity.
In addition
to its usage of contactless functionality, other key differentiators
for this Loyalty and Prepaid/Gift platform include a browser-based
interface for both users and administrators along with several incorporated
formats that allow easy automatic point accumulation, reporting,
and redemption for the consumer.
“The
beauty of the ViVOplatform is that it lets existing legacy systems
take advantage of contactless functionality on Gift and Loyalty
transactions seamlessly,” said Mohammad Khan, president &
COO for ViVOtech. “Working with complimentary ViVOtech products,
this innovative solution offers a vast array of benefits to retailer
and consumer alike while enriching the overall transaction experience
for both. And in the end, it will ultimately contribute to the bottom
line.”
Complimentary
ViVOtech Products:
ViVOpay contactless readers working with ViVOplatform enable retailers’
existing POS systems to support various contactless (RFID) loyalty,
Gift/Prepaid, cross selling, and instant reward software applications.
At the same time, ViVOpay readers are certified by major card associations
to allow acceptance of their branded contactless (RF) payment programs
being rolled out in the United States. The ViVOpay 3000 is a countertop
reader, and ViVOpay 4000 is a compact size reader that can easily
be mounted on POS terminals and ECR systems saving precious counter
space – while empowering retailers to offer enriched payment
transactions.
ViVOtech also
provides contactless (RFID) cards and fobs and personalization software
to enable retailers to issue contactless Loyalty and Gift/Prepaid
cards to their customers. Retailers can use ViVOtech’s design
services to give exciting customized shapes and forms to the contactless
fobs based on the lifestyle of their customer base.
About
ViVOtech
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 not only offer customers
a choice of payment devices and enriched payment services such that
they enjoy a convenient, rewarding, secure and fast payment experience,
but also to benefit themselves from additional revenue and cost
savings. ViVOtech is defining the new wave of enriched payment transactions
that work with existing infrastructure making contactless payments
faster than cash, safer than checks. ViVOtech has shipped more than
50,000 contactless payment readers that are currently being deployed
in United States, Canada, and Multiple countries in Asia and Europe.
ViVOtech products are being used at Fast Food Restaurants (QSR),
Casual Dining, Petroleum, Convenience Stores, Grocery Stores, Specialty
Stores, Drug Stores, Corporate Cafeterias, Parking, and Theaters.
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
mailto: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.
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