ViVOwallet Symbian Press Release

ViVOtech announces industry’s first user-friendly ViVOwallet payment and promotion software for Symbian OS mobile phones

ViVOtech solution drives new revenue and delivers rich wireless experience

ATLANTA, CTIA 2004, March 22, 2004 – Today at CTIA 2004, ViVOtech, a leader in lifestyle payment transactions, announced customized contactless payment and promotion software for Symbian OS™ mobile phones. This software application is the first user-friendly wallet that further enhances the mobile phone as an “all in one” device serving as an integral part of consumers’ daily lives. The new ViVOwallet solution adds a powerful application to the mobile phone’s existing capabilities spurring new consumer usage and opening the door to incremental revenue opportunities for wireless operators, retailers and handset makers.

Symbian OS is the leading mobile OS for data-enabled mobile phones with advanced capabilities such as PC synchronization, multi-media and gaming to name a few. With ViVOwallet software, consumers will be able make secure, convenient and fast contactless payments. Moreover, consumers will find great ease in picking up graphics against text while navigating the solution as well as need a significantly less number of clicks to make a payment. This feature makes ViVOwallet extremely simple and user-friendly. Other services that ViVOwallet offers include the ability to use loyalty cards, gift cards and SMS e-coupons. Customers can carry coupons digitally on their phones and use them for payments and to redeem promotions at any ViVOtech enabled location. ViVOtech’s end-to-end solution allows payment as well authentication of e-coupons at the point-of- sale terminal.

The desire to access wireless applications and services is hitting the mainstream. According to a recently released report by research firm Gartner Group, rollouts over the next few years will most likely involve contactless cards either as a stand-alone or part of wireless devices. Moreover, a contactless payment pilot conducted by ViVOtech in collaboration with a leading wireless service provider late last year revealed that four in every 10 participants would prefer to replace their wallet and make wireless payments using the mobile phone’s ViVOwallet.

“Generating new revenue streams has become a critical requirement for wireless network operators today,” said Jorge Fernandes, CEO and co-founder of ViVOtech. “ViVOtech has worked with Symbian to develop an application consumers will value for its ability to link their mobile device to their lifestyle payment needs. The ViVOwallet software offers immense value to the consumer by making the payment experience delightful - fast, secure and convenient.”

When using a Symbian OS mobile device, consumers can use ViVOwallet to simply point the device at the cash register, enabled with a ViVOpay reader, of a participating retailer. The payment information is immediately transferred to the merchant for a payment or for a loyalty transaction using IR/RF technology.

ViVOtech’s ViVOwallet payment and promotion software will be available for download on all Symbian OS-based Series 60 and UIQ platform mobile devices worldwide. Symbian OS is licensed by the world’s leading handset manufacturers including LG Electronics, Motorola, Nokia, Samsung, Siemens and SonyEricsson. A majority of the wireless operators worldwide offer these devices.

The ViVOwallet payment and promotion software will be demonstrated at the Symbian Booth # 4665, Hall B5, at CTIA 2004.

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 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

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.