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Consumers to Benefit from Emerging E-Payment Ecosystem; NCR makes Strategic Investment in ViVOtech
DAYTON, Ohio --(Business Wire)-- NCR Corporation (NYSE:NCR) today announced that it has made a strategic investment in Silicon Valley-based ViVOtech, Inc, and will use the contactless payment leader's set of technologies to allow consumers to make contactless payments with RF-enabled credit or debit cards and near field communication (NFC)-related mobile phones. ViVOtech's contactless payment systems simplify the payment process by eliminating the need to swipe a card through a reader. This, combined with ViVOtech's other leading-edge technologies, including NFC-related mobile payments, promotions and over-the-air (OTA) provisioning infrastructure software, allows millions of consumers to make a wide range of contactless payments and identify themselves as they conduct self-service transactions.
"Today's on-the-go consumers prefer to handle an increasing number of transactions themselves using self-service devices," said NCR President and Chief Executive Officer Bill Nuti. "By collaborating with ViVOtech, NCR is enabling an infrastructure for contactless payments and mobile phone interaction points, empowering our customers to be at the forefront of emerging e-payment solutions while providing consumers with a whole new world of automated services."
NFC technology provides short-range wireless connectivity that enables mobile phones to electronically interact with payment systems for a variety of transactions, including those at the point of sale, ATMs and kiosks, to conduct location-based personalized loyalty, coupon and promotion programs, and to authenticate users for airline and hotel self-check-in solutions. Emerging-technology analyst firm ABI Research recently forecasted that NFC chips will be embedded in millions of handsets in the next few years.
"Collaborating with NCR, a global leader in self-service solutions, will significantly enable us to advance our vision of a world of choice and innovation for the contactless and mobile phone payments and mobile marketing industry," said ViVOtech Chief Executive Officer Michael Mullagh. "Together, we will enable the creation and delivery of a broad set of differentiated mobile commerce services that will change the way that consumers communicate and interact with businesses and government services."
ViVOtech will supply contactless technology and NFC mobile transaction software for a variety of NCR's current solutions on a global basis. To hasten the proliferation of contactless payments, NCR and ViVOtech plan to collaborate to enable the inclusion of contactless and NFC mobile transaction technology in NCR's next-generation platforms for a variety of applications.
Unlike other contactless technology solutions available in the mobile application market today, ViVOtech's platform is designed to make it easy for issuers, mobile operators and technology providers to collaborate to deliver the most intuitive and integrated consumer experience across a range of new customer services. This includes paying for goods and services by mobile phone, OTA downloading of credit/debit cards and coupons, personal authentication to enable mobile e-tickets, e-hotel room keys and more.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading global technology company helping businesses build stronger relationships with their customers. NCR's Teradata(R) data warehouses, ATMs, retail systems, self-service solutions and IT services provide Relationship Technology(TM) that maximizes the value of customer interactions and helps organizations create a stronger competitive position. Based in Dayton, Ohio, NCR (www.ncr.com) employs approximately 29,650 people worldwide.
About ViVOtech
ViVOtech (www.vivotech.com) is the market leader in NFC mobile payments, promotions, and OTA provisioning infrastructure software, transaction management software, NFC smart posters and contactless terminals. These innovative solutions allow millions of consumers to make contactless payments with radio frequency-enabled credit/debit cards, key fobs and NFC mobile phones. ViVOtech's products are used by some of the most prominent retailers in the United States. Currently, with more than 280,000 units in 25 countries, ViVOtech's products are in use at movie theaters, quick-service restaurants, casual dining establishments, convenience stores, gas stations, drug stores, grocery stores, buses, taxicabs, kiosks and vending machines, enabling a wide variety of businesses to accept contactless/NFC payments and promotions. In 2007, ViVOtech was named No. 1 in the ABI Research Contactless Reader Vendor Matrix Ranking. ViVOtech was also recognized as Top contactless Payment Technology Vendor in Aberdeen Group's "Retail Contactless Payment Report." In 2006, ViVOtech was honored with a MasterCard "Best Vendor Partner Award" as the first vendor to deliver stand-alone contactless readers for MasterCard PayPass customers. In 2005, ViVOtech received the prestigious Frost & Sullivan technology award for its role in transforming the contactless payment industry and the first annual ETA Technology Innovation Award.
NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.
ABI Research is a N.Y.-based technology market research firm founded in 1990. ABI publishes market research and technology intelligence on the wireless, automotive, electronics, networking and energy industries. Details can be found on the web at www.abiresearch.com
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