Product: ViVOnfc
Company: ViVOtech Inc.

Once used strictly for making calls, mobile phones have evolved into the ultimate gadget. Many now also include different technology solutions such as MP3 players, personal organizers, bluetooth chips, walkie-talkies, Internet access and digital cameras.

ViVOtech, a leader in contactless payment solutions, bets that the next wave of cell phone technology, electronic wallets, or e-wallets, will soon make their way to the masses. Connected to a consumer's credit card or bank account, e-wallets may soon be available in the rapidly expanding contactless payment arena.

ViVOtech offers an end-to-end mobile phone payment solution called ViVOnfc. The phones are equipped with near field communication (NFC) technology, which provides short-range wireless connectivity over a distance of two to four inches. Since NFC devices do not operate over a carrier's radio spectrum, they can be used anywhere.

Here's how the ViVOnfc phone works: Consumers download virtual payment "cards" on their phone from card issuers over the wireless service provider's radio spectrum. These cards include credit, debit, prepaid, loyalty and gift cards.

Once card information is added to the phone, consumers can pay for goods and services at merchant locations that use a contactless POS system.

The ViVOnfc solution includes an infrastructure that enables downloading of the virtual cards; ViVOwallet software that provides consumers with access to their accounts directly on the NFC phone's screen; and software that secures communications between the phone and contactless POS at the merchant location.

ViVOtech is partnering with mobile phone operators and phone manufacturers to develop the infrastructure for implementing the program. The company will roll out several pilots around the world in the next six to nine months.

Interested consumers purchase a service plan and phone with the NFC option. ViVOtech said it is working to factory-equip phones with an "empty wallet" ready to hold cardholder information.

ViVOtech
408-248-7001
www.vivotech.com