CARTES & IDentification 2010
LONDON--(BUSINESS WIRE)--Monitise (LSE: MONI.L), a global leader in mobile money solutions, has joined forces with leading near field communication (NFC) software developer ViVOtech, to deliver mobile phone payments services to banks across the United States.
The partnership means customers of participating banks will be able to turn their handset into a mobile wallet (linked to registered bank accounts, credit and debit cards) and purchase items using contactless payments at merchants with NFC capabilities.
In addition to contactless payments, service users will be able to transfer money from their registered accounts to other bank accounts, perhaps in response to an overdraft alert or to friends and family. The service will also deliver retail coupons and discounts directly to the user on their mobile phone.
From the commercial perspective, the partnership offers banks and other financial institutions a world-class, secure mobile financial management and purchasing service which they can deliver to their customers.
This NFC service will be delivered through the combination of ViVOtech’s over-the-air (OTA) software and Monitise’s Mobile Money technology.
ViVOtech’s software allows data, such as credit, debit or prepaid card credentials, to be remotely loaded onto a secure chip. This can be in an NFC phone, a SIM card or a chip contained within a microSD card that can be inserted into the majority of existing smartphones, including BlackBerry, Android, Nokia and even in various iPhone cases.
In the coming months, new handsets released by major manufacturers will have built-in NFC capability.
The partnership is part of Monitise’s program to broaden its range of contactless payments capabilities worldwide, evidenced by the recent announcement of a microSD technology trial with U.S. Bank, the 5th largest bank in the United States.
Lisa Stanton, Monitise executive director of global alliances, said, “Monitise welcomes its partnership with ViVOtech to deliver the next generation of fast, secure contactless payments to our many financial institution clients in the United States. We pride ourselves on being at the forefront of mobile financial management and contactless payments. Combining the power of ViVOtech’s OTA software with our Mobile Money technology platform will ensure that we continue to deliver what the banks and their customers are looking for.”
Michael Mullagh, CEO of ViVOtech, said, “We are delighted that Monitise will be using ViVOtech’s over-the-air provisioning technology for NFC mobile handsets. With this initiative, Monitise will help to accelerate the development of NFC-enabled smartphones, allowing banks to deliver enhanced shopping and payment experiences to cardholders using their existing mobiles as well as the new breed of smartphones.”
Research shows that consumers in the United States upgrade their handsets approximately every 18 months, pointing to the potential rapid and widespread adoption of NFC technology, driven by the offer of new services.
Monitise handles over 100 million mobile inquiries and transactions a year on 2,700 different types of handsets, delivering internationally proven bank-grade security as well as slick, user-friendly apps. The company has partnerships with over 240 financial institutions, with millions of people across the globe using its technology to manage their finances on their mobile phone.
To date, ViVOtech software has been used successfully in more than 30 NFC phone pilot projects around the globe.
About Monitise
Monitise plc (LSE: MONI.L) is a global leader in Mobile Money solutions, with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of mobile banking and payments services to their customers in both developed and developing territories.
With live services in the UK and in the USA, where it is in partnership with FIS, the company is currently working with international partners to deliver similar safe, secure mobile banking and payment services in territories worldwide, including India and the Asia-Pacific region. Current key partners include Visa, VocaLink, FIS, HSBC, Lloyds TSB, First Direct, Royal Bank of Scotland, NatWest, Travelex, Ulster Bank, Standard Chartered Bank, Vodafone, Orange, O2, T-Mobile, 3 UK, Best Buy, The Carphone Warehouse and First Eastern. For more information, visit http://www.monitisegroup.com.
About ViVOtech
ViVOtech (www.vivotech.com) is the leading end-to-end enabler of next-generation NFC mobile payments, loyalty and marketing solutions – including mobile wallet, patented Over-The-Air (OTA) provisioning, Trusted Service Manager infrastructure, NFC touch point (smart poster) management, and loyalty/coupon management software; and contactless NFC payment acceptance terminals. ViVOtech’s versatile software solution not only works with emerging NFC-enabled smartphones, but also with multiple existing mobile handset models including BlackBerry, iPhone, Android, and Nokia with add-on NFC accessories. ViVOtech products are used by prominent retailers, banks, processors, and mobile network operators all over the globe; the company has shipped more than 780,000 contactless NFC 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 received the 2010 Mobility Award for its NFC mobile ViVOwallet software, Smart Card Alliance Award “Outstanding Smart Card Achievement” (OSCA) Award for Innovation in Payments Technology and the Contactless Intelligence “Monkey” Awards for Competitive Advantage through Technology used by Citi Tap and Pay NFC Pilot. ViVOtech’s investors include Citi, First Data Corporation, Motorola Ventures, NCR and Nokia Growth Partners.
Contacts
Monitise
Rebecca Warzycha, +1 401-305-5211
rebecca.warzycha@monitisegroup.com
or
For ViVOtech
SS|PR
Kristin Miller, +1 719-634-8292
kmiller@sspr.com
Rebecca Warzycha, +1 401-305-5211
rebecca.warzycha@monitisegroup.com
or
For ViVOtech
SS|PR
Kristin Miller, +1 719-634-8292
kmiller@sspr.com
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