ViVOtech Adds IR Capabilities to Its RFID Product Portfolio to Deliver Industry First Contactless Payment Products with Combined Functionality

SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 23, 2004--

Allows Merchants to Engage Select Communities and Enhance Revenue Generating Opportunities

“Bundling Infrared with RF enables merchants to capitalize on both of the leading contactless payments technologies, responding to varying community preferences while promoting brand loyalty and enhanced revenues in the process”

ViVOtech, a leader in lifestyle payment transactions, today announced that it has added Infrared (IR) capabilities to its existing portfolio of Radio Frequency (RFID) contactless payment products to bring to the market for the first time a combination of RFID- and Infrared-based technologies on to a single platform. The combined capabilities enable consumers to make payments with either RFID-enabled key fobs or cards, or Infrared-enabled mobile phones and PDAs. Moreover, it allows merchants to proactively reach out to select communities using either of the technologies to make a payment and promote brand loyalty to generate new revenue streams.

Addressing the needs of merchants and retailers who like to use existing payment infrastructure for multiple contactless payments and enhance their revenues, ViVOtech's technology offers a single, scalable platform that provides an easy-to-use transaction system which can be deployed in minutes. ViVOtech products such as ViVOpay 3000 allow merchants to accept various brands of contactless payment programs, significantly reducing implementation costs. Also, clerks and consumers have to interface with only one card reader. Merchants are also conveniently able to support value added applications by downloading the ViVOtech software. By having multiple technologies and tapping into millions of mobile and PDAs users, merchants can benefit greatly by offering specially-targeted promotions for select communities exhibiting a given behavior to impact their buying decisions that result in repeat visits to the retailer, purchase of more profitable items using a preferred payment device and eventually driving up merchant revenues.

"At ViVOtech, we strongly believe that making interoperable products will increase acceptance of contactless payments and pave the way for new applications in this space," said Jorge Fernades, CEO, ViVOtech. "By offering industry first products that combines RFID and IR capabilities, ViVOtech has reaffirmed its position as a leading player in the contactless payment industry."

"Bundling Infrared with RF enables merchants to capitalize on both of the leading contactless payments technologies, responding to varying community preferences while promoting brand loyalty and enhanced revenues in the process," said Ed Kountz, Senior Analyst, Emerging Technology Solutions, TowerGroup. "A bundled approach will make it easier for merchants to deploy contactless payment solutions relevant to local market conditions, while increasing consumer usage of new payment and promotion solutions as well."

With over 30 million users of Infrared-enabled devices in North America, merchants can benefit from targeting such users with additional usage of applications and security features that co-exist with this technology. In addition, Infrared-enabled devices such as PDAs and mobile phones can easily be used for payments, promotions, loyalty, security, with ViVOtech products such as ViVOwallet and ViVOplatform.

Availability

ViVOtech products that have combined RFID and IR capabilities include ViVOpay 3000, ViVOplatform, ViVOpay Dine and ViVOwallet. All these products are commercially available.

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.