For
immediate release
Retailers Recognize ViVOtech as Top Contactless Payment
Technology Vendor in Aberdeen Group’s “Retail Contactless
Payment Report”
Report predicts
double digit growth in the adoption of contactless payments by retailers
looking to improve consumer experience.
SANTA
CLARA, Calif – January 15, 2007 — ViVOtech,
Inc., the leading supplier of contactless payment solutions, today
announced that ViVOtech was recognized by retailers as the top contactless
payment technology vendor in a recent independent report by the
Aberdeen Group. Selected by 24% of retailers, ViVOtech was the 1st
technology vendor and 2nd overall company on top of the mind of
retailers when asked “to mention companies providing contactless
payment solutions” as part of Aberdeen's Retail Contactless
Payment Report research. Retailers had to choose among nearly 60
companies in the contactless space, MasterCard & ViVOtech being
the top two overall in terms of being recognized by retailers.
“ViVOtech
is flattered to be the “top of the mind” provider of
contactless payment technology recognized by retailers”, said
Michael Mullagh, ViVOtech CEO. “ViVOtech strives to add value
to retailer’s customer offerings with fast and convenient
contactless payment applications that have minimum impact on their
existing systems.”
“According
to the data, 24% of our retail respondents recognized ViVOtech as
a service provider in the context of contactless payments, this
was the second highest amongst nearly 60 vendors listed in the survey
in the contactless payment-related industry.” said Sahir Anand,
Chief Author and Research Analyst for Aberdeen’s Retail Technology
practice. “Our research shows that contactless payment in
retail is a worldwide phenomenon not restricted to any single market
segment, with plenty of opportunities for current and new players
to deliver value to retailers and consumers.”
The
report also validates that contactless payment systems are fast
approaching the tipping point of adoption within the retail sector.
According to the survey responses from North America, EMEA and Asia-Pacific,
all contactless technology standards including the most prevalent
ISO 14443 smart card contactless standard are headed for double-digit
growth in 2007 & 2008. Aberdeen research reveals that 58% of
all respondents across multiple retail classifications indicated
that they plan to implement contactless payment solutions within
the next 12-to-24 months. Close to 30% of the retailers indicated
that they have already adopted and deployed contactless payment
systems.
Sahir
also said that another major growth area worldwide identified by
the report was that of mobile phone payments using Near Field Communication
(NFC) technology.
“ViVOtech
is heavily involved in almost every pilot program for NFC mobile
phone payments across the globe” continued Mr. Mullagh. “We
expect NFC mobile phone payments and promotion applications to become
a major tool for retailers to foster customer loyalty and satisfaction”.
ViVOtech’s
NFC and contactless payment applications will be demonstrated at
the NRF show in New York January 15th and 16th at the ViVOtech booth
# 2745.
The
full Retail Contactless Payment Report can be downloaded here:
About
ViVOtech
ViVOtech is the market leader in contactless/NFC payment software,
transaction processing and over-the-air (OTA) management systems,
and readers. These innovative solutions allow consumers to make
contactless payments with radio frequency-enabled credit cards,
debit cards, key fobs, and NFC-enabled mobile phones. ViVOtech's
products are used by some of the most prominent retailers in the
United States. Currently, with more than 210,000 contactless readers
in 20 countries, ViVOtech's products are in use at movie theatres,
fast food restaurants (QSR), casual dining establishments, convenience
stores, gas stations, drug stores, grocery stores, buses, taxicabs
and vending machine locations, enabling a wide variety of businesses
to accept contactless/NFC payments. In 2005, ViVOtech received the
prestigious Frost & Sullivan technology award for its role in
transforming the contactless payment industry, as well as winning
the first annual ETA Technology Innovation Award. ViVOtech was recently
honoured with a MasterCard "Best Vendor Partner Award"
as the first vendor to deliver stand-alone contactless readers for
MasterCard PayPass customers. For further information, visit www.vivotech.com.
Contact
Information:
Kristin Miller
SS|PR
719-634-8292
kmiller@sspr.com
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