NEW YORK--(BUSINESS WIRE)--Please replace the release dated Jan 27, 2012 with the following corrected version due to multiple revisions.
The corrected release reads:
I LOVE VELVET MOBILE PAYMENT GRANTED EMV2 CERTIFICATION
The company’s second level of EMV garners widespread media attention
At the close of the NRF earlier this month, the biggest retail trade show, I Love Velvet, the innovative mobile payment solution provider, announced that it reached the second level of EMV certification--EMV2--which authorizes PIN and integrated chip (IC) payments from debit, credit and smart cards around the world. I Love Velvet continues to draw attention from and attract new retailer clients from around the world who are looking to enhance the shopping experience for their customers.
"In Japan, although they do not use IC payment, they expect this level of certification," explained Patrick Bouaziz, Chief Visionary Officer of I Love Velvet. "Our mobile point-of-sale payment system, I Love Velvet, is now fully operational in every country around the world, and is positioned to be a top tier innovator and leader in the mobility marketplace."
For transactions in America, PIN entry data is the norm using a magnetic strip and more recently, by the contactless method. In Europe, card holders use IC, which is a chip embedded in the card that holds all the card holder's highly securitized information and data.
I Love Velvet is the third largest mobile payment software and hardware
provider in the global marketplace, behind Ingenico and Verifone. Since
I Love Velvet started in 2010, sales have increased 100% and the
forecast is for exponential growth in 2012. Additional information on
the company can be viewed at: www.ilovevelvet.com
https://www.facebook.com/pages/ILoveVelvet/333484786679074
https://twitter.com/#!/Velvet_Suite