ViVOtech's Contactless Payment Products Receive MasterCard PayPass(TM) Approval; Contactless Payment Leader Furthers Commitment to High Quality Products and Services in Support of PayPass Roll-outs

SANTA CLARA, Calif.--(BUSINESS WIRE)--July 19, 2005--ViVOtech, the leading supplier of contactless payment solutions, today announced that multiple ViVOpay products have received vendor product approval from MasterCard International for use in its MasterCard PayPass(TM) program. This approval process assures the ViVOpay 3000 and 4000 readers conform to MasterCard's interoperability, usability, reliability and security requirements.

MasterCard PayPass is a new "contactless" payment program that provides consumers with a simpler way to pay. Using MasterCard PayPass, consumers simply tap their payment card, or alternative PayPass form factor, on a special reader like the ViVOpay 3000 or 4000 at checkout, thereby eliminating the need to fumble for cash and coins, hand their card to a clerk or swipe the card through a reader manually. The payment is authorized in seconds and no signature is required for transactions under $25 at quick payment type merchants. MasterCard trials have shown that purchasing time can be reduced by as much as 12 to 18 seconds when compared to cash purchases.

“With the commercial roll-out of contactless payment technology now ramping up, ViVOtech is well positioned to meet the needs of retailers and card issuers alike”

"With the commercial roll-out of contactless payment technology now ramping up, ViVOtech is well positioned to meet the needs of retailers and card issuers alike," said Mick Mullagh, CEO of ViVOtech. "ViVOtech is one of the first suppliers to have its contactless reader products formally certified by MasterCard. We anticipate significant demand in the marketplace as quick serve restaurants, theaters, convenience stores, parking garages, and stadiums continue to go contactless in the coming months."

About ViVOtech

ViVOtech provides an end-to-end transaction platform that allows consumers to make contactless payments with radio frequency-enabled credit cards, debit cards, key fobs, cell phones, PDAs and identity cards. The company's products are backwards compatible with today's existing POS infrastructure, providing seamless upgrades. With more than 90,000 of its contactless payment readers shipped around the world, ViVOtech products are found in Fast Food Restaurants (QSR), Casual Dining Establishments, Corporate Cafeterias, Parking Garages, and Movie Theaters as well as Convenience, Grocery, and Drug Stores. ViVOtech is headquartered in Santa Clara, Calif., with offices in Europe and Asia. In 2005, ViVOtech received the prestigious Frost & Sullivan technology award for its role in transforming the contactless payment industry.