Motorola Backs ViVOTech
Summary
ViVOTech Inc., a Santa Clara, Calif.-based provider of wireless payment software and chips, has raised an undisclosed amount of strategic funding from Motorola Ventures. “Our platform is transforming the way consumers spend money, make payments and purchases — making it so simple that any mobile phone user can securely and easily buy items with a simple wave of the mobile device at one of our NFC-powered contactless readers.” Today’s on-the-go consumers are looking for simplified and more secure ways to pay for goods and services. Near Field Communication (NFC) technology is broadening the usefulness of mobile devices through short-range wireless connectivity which enables the phone to interact with payment systems for a wide variety of transactions, including those at the point-of-sale, ATMs and kiosks. ViVOtech’s comprehensive NFC technology offerings enable these new mobile features to provide best-in-class payment transactions at merchant locations all over the world. These innovative solutions allow millions of consumers to make Contactless payments with radio frequency-enabled credit/debit cards, fobs, and NFC mobile phones.