Sunday, November 11, 2007

Motorola Invests in ViVOtech for NFC Mobile Payment Tech

Motorola Ventures has made an equity investment in ViVOtech, a start-up offering contactless and mobile phone payment technologies. Financial terms of the deal were not disclosed.

ViVOtech's platform is designed for collaboration among issuers, mobile operators and technology providers to deliver the most intuitive and integrated consumer experience across a range of new customer services.
The companies said Near Field Communication (NFC) technology is broadening the usefulness of mobile devices through short-range wireless connectivity which enables the phone to interact with payment systems for a wide variety of transactions, including those at the point-of-sale, ATMs and kiosks. Additionally, this connectivity allows for location-based personalized loyalty, coupon and promotion programs, and user authentication for check-in at airline and hotel self-service stations.

In addition to Motorola, ViVOtech's investors include First Data Corporation, NCR, Nokia, Alloy Ventures, Draper Fisher Jurvetson, DFJ Gotham Ventures, Miven Venture Partners, and an undisclosed Fortune 500 company.

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