ViVOtech Wins Best Vendor Partner Award from MasterCard; First Company to Provide Stand-Alone Contactless Readers for MasterCard PayPass Program with Global Deployment in Asia/Pacific, Middle East & Africa.
The award reflects ViVOtech's status as the first vendor to deliver stand-alone contactless readers for MasterCard PayPass, allowing merchants to take advantage of MasterCard's "tap and go" payment program without the need to invest in a new contactless-enabled POS terminal infrastructure. The honor also recognizes the ability of the company's ViVOpay(R) 5000 Global readers to be easily implemented on merchants' existing POS systems as well as the scale of the deployment -- now exceeding 15,000 readers.
Rollouts have ranged from Taiwan to Malaysia, Australia, China, Japan, Thailand, the Philippines, Lebanon and South Africa, including both EMV and non-EMV payment environments. ViVOtech was also the first vendor to receive global certification under the MasterCard PayPass program.
"MasterCard PayPass is changing the way consumers pay worldwide, and market penetration is increasing rapidly with nearly 10 million PayPass cards and key fob devices issued by MasterCard member banks to date," said Michael Mullagh, CEO of ViVOtech. "By providing an easy add-on peripheral that eliminates the need for merchants to purchase new contactless-enabled terminals, our ViVOpay readers are helping bring PayPass to merchants and consumers around the world quickly, easily and cost-effectively."
ViVOpay 5000 Global contactless readers feature quick EMV and non-EMV contactless transactions, interactive display to guide consumers through the contactless buying process, and an expandable memory slot enabling banks and retailers to add other applications such as prepaid and loyalty programs. The readers are compatible with all worldwide contactless payment programs.
About MasterCard(R) PayPass(TM)
MasterCard PayPass is a new "contactless" payment program that provides consumers with a simple way to pay. Using MasterCard PayPass, consumers simply "tap" their payment cards, or alternative PayPass form factors, on specially equipped merchant terminals, eliminating the need to swipe a card through a reader or fumble for cash and coins. The new solution is ideal for quick payment environments where speed is essential, such as quick-serve restaurants, gas stations, drug stores, supermarkets and movie theaters.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchiser, processor and advisor, MasterCard develops and markets payment solutions and processes nearly 14 billion payments each year, as well as providing industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information, visit http://www.mastercardworldwide.com.
ViVOtech (www.vivotech.com) is the market leader in contactless/NFC payment software, transaction management systems, and readers. 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 180,000 units in 18 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 2005, ViVOtech received the prestigious Frost & Sullivan technology award for its role in transforming the contactless payment industry, as well as winning the first annual ETA Technology Innovation Award.
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|Date:||Sep 25, 2006|
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