First Interoperable Contactless Solution

ViVOtech Announces Industry’s First Interoperable Contactless Payment Solution for MasterCard and American Express

Solution reduces implementation costs for merchants,
provides increased convenience and value for consumers

LAS VEGAS, ETA 2004, NV, April 20, 2004 – ViVOtech, a leader in the lifestyle payment transactions today announced ViVOpay 3000, the first interoperable contactless payment solution that accepts both MasterCard PayPass™ and American Express ExpressPay™ contactless cards in the existing infrastructure.

ViVOtech’s ViVOpay 3000 provides merchants with a single reader that can accept MasterCard or American Express contactless payment cards regardless of form factor or technology. Therefore, when merchants install ViVOpay 3000 to accept one brand of a contactless payment program, they can download software at a later time for the other contactless card program, significantly reducing implementation costs. Also, clerks and consumers will have only have to interface with one card reader – rather than have one for MasterCard International and another for American Express. The merchant is also conveniently able to support value added applications at a later time by downloading the ViVOtech software.

“We believe interoperability will boost adoption of contactless payments by merchants and create the foundation for wider deployments of contactless payment technology,” said Jorge Fernandes, CEO and co-founder of ViVOtech. “With our interoperable solution, ViVOtech further solidifies its position as the premier supplier of contactless payment solutions for card companies.”

MasterCard PayPass is designed to be simpler and faster than cash, thereby speeding consumers through the check-out process. In keeping with our overall strategy to create globally interoperable payment solutions, MasterCard PayPass is based on an open, industry standard and relies on the ISO/IEC Standard #14443 to transmit data via radio frequency,” said Murdo Munro, Vice President, Mobile Commerce, MasterCard International. “As contactless payments continue to gain momentum, MasterCard is pleased to work more closely with leading solution providers such as ViVOtech,” added Munro.

ViVOpay 3000 offers a simple user interface with a large display area for the purpose of branding. It can easily interface with the existing POS systems using serial cable as well as other unique adoption technologies offered by ViVOtech.

According to Fernandes, there is a huge market potential for ViVOpay 3000. There are currently more than 12 million existing POS systems in the U.S., which accept magnetic stripe cards that can be upgraded with ViVOpay to accept contactless payments.

Visit ViVOtech in booth #1012 at the ETA show, April 20–22 in Las Vegas, Nevada to see a demonstration of ViVOpay 3000 and find out more about this industry first solution.

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.

Editorial Contact:
Seema Kalra
Weber Shandwick, for ViVOtech
408.559.6090
skalra@webershandwick.com

Sales Contact:
Naz Uzmani
408.248.7001 x 105
naz@vivotech.com

ViVOtech, ViVOgiftcard, ViVOpay, ViVOwallet and ViVOcard and are registered trademarks of ViVOtech, Inc. Other brand and product names are registered trademarks or trademarks of their respective holders.