ViVOtech Awarded the Smart Card Alliance OSCA Awards for Best Payments Innovation Technology and the Contactless Intelligence 'Monkey' Awards for Competitive Advantage through Technology
SANTA CLARA, Calif., May 19 /PRNewswire/ -- Silicon Valley-based ViVOtech, the leader in Near Field Communication (NFC) mobile payments, loyalty and marketing applications and contactless NFC readers, announced today it is the recipient of two major awards for its role as the NFC software solution provider for the Citi Tap and Pay mobile payment pilot in India. ViVOtech was selected as the winner of the Smart Card Alliance "Outstanding Smart Card Achievement" (OSCA) Award for Innovation in Payments Technology and the Contactless Intelligence "Monkey" Awards for Competitive Advantage through Technology. Citi Tap and Pay was the world's largest and most comprehensive next-generation contactless credit card payments pilot ever undertaken based on NFC technology. ViVOtech provided the underlying technology including the NFC wallet, the Over-the-Air (OTA) card provisioning software, the smart posters and the mobile coupon application in addition to the contactless readers that participating merchants used to accept payments.
"ViVOtech is very excited with the recognition we are receiving for our role in enabling the Citi Tap and Pay pilot as the NFC software solution provider," said Michael Mullagh, CEO of ViVOtech. "ViVOtech's mobile software solution is designed to be easily rolled out to a large base of consumers, and it was proven through delivering over 3,000 users a seamless mobile payment and promotion experience."
ViVOtech provided a complete NFC mobile payment and coupon solution, including the following software, hardware, and services components:
- Citi Wallet Software distributed with Nokia 6212 NFC mobile phone
- OTA & Trusted Service Management Software (Control Server) installed at Vodafone, the participating Mobile Network Operator
- OTA card provisioning software (Issuer Server) installed at the Citi India data centre
- Mobile promotion coupon and smart poster management software
- Smart posters with ViVOtag technology installed in various shopping areas
- NFC contactless readers installed at merchant locations
- Local support during the trial period
The mobile payment infrastructure deployed with ViVOtech technology allowed pilot participants to purchase NFC-capable Nokia N 6212 classic phones at designated Nokia stores, pre-loaded with Citi Tap and Pay wallet application enabled with MasterCard's PayPass™ contactless payment technology. Participants were then able to securely and easily execute an OTA download of their Citibank MasterCard credit card onto their mobile phones. Participants also enjoyed promotional offers by tapping their NFC phones on smart posters, and received coupons in seconds. Post-purchase, participants used their phones to make Tap and Pay transactions at locations displaying the Citi Tap and Pay and MasterCard PayPass™ acceptance marks.
With over 3,000 participants the Citi Tap and Pay pilot was a major success. Edgar Dunn & Company in an independent report published in early march said that the "The Tap and Pay mobile proximity payments pilot project in Bengaluru, represented a watershed event in the recent intensive history of Mobile Financial Services." The report went on to say "It was the largest pilot programme of its kind to date. It identified positive consumer demand, reliability of available technology, and growth in purchase volumes. It demonstrated that with confirmed commitment and investment from industry stakeholders, mobile NFC proximity payments have the potential to generate growth in payments, create value for stakeholders, and help convert cash transactions to electronic payments."
To download the full report on Citi Tap and Pay pilot from Edgar Dunn & Company, go to:
About the Smart Card Alliance (http://www.smartcardalliance.org/pages/activities-osca-awards)
The Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate the understanding, adoption, use and widespread application of smart card technology. The Alliance invests heavily in education on the appropriate uses of technology for identification, payment and other applications and strongly advocates the use of smart card technology in a way that protects privacy and enhances data security and integrity. Through specific projects such as education programs, market research, advocacy, industry relations and open forums, the Alliance keeps its members connected to industry leaders and innovative thought. The Alliance is the single industry voice for smart card technology, leading industry discussion on the impact and value of smart cards in the U.S. and Latin America.
About the Contactless Intelligence Monkey Awards (http://c-i.tv/index.php?id=394)
The Monkey Awards are presented to those companies, organizations and retailers who have done the most to embrace and implement contactless technology into their day-to-day operating practices. These awards represent a real promotional springboard and give the winners a reputation and credibility for their efforts within the industry. The competition is open to all implemented contactless applications within the relevant sectors, regardless of geographic region or size of corporation. Selected by a panel of experts, the Awards will be presented to the Winners at a prestigious evening ceremony organized in London during the Contactless Intelligence Spring Conference (29th April 2010).
About ViVOtech
ViVOtech (www.vivotech.com) is the leading end-to-end enabler of next-generation mobile payments, loyalty and marketing solutions. ViVOtech provides mobile payment solutions, mobile marketing and loyalty applications software for existing as well as Near Field Communication (NFC) enabled mobile handsets, Over-The-Air (OTA) provisioning infrastructure software, NFC smart posters and contactless terminals. ViVOtech's products are used by most prominent retailers all over the globe; the company has shipped over 660,000 contactless and NFC payment terminals to more than 35 countries. In 2009, ViVOtech received the prestigious Frost and Sullivan North American Smart Cards Product Line Strategy of the Year Award. In 2010, ViVOtech won 2010 Mobility Award for its NFC mobile ViVOwallet software. ViVOtech's investors include Citi, First Data Corporation, Motorola Ventures, NCR and Nokia Growth Partners.
SOURCE ViVOtech
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