Unique tomPAY(TM) NFC Tag Enables Mobile Contactless Payment for 100,000 Visitors at London Olympic Hospitality Events
LONDON, July 25, 2012 (GLOBE NEWSWIRE) -- Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), a provider of products and services for the identification, security and RFID industries, today announced that its innovative tomPAY™ NFC tag technology is being deployed and used for a payment application at large hospitality events at the Olympics.
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tomPAY™ features a unique remove and stick form factor that allows it to be manufactured using standard ISO PVC card manufacturing process. tomPAY™ can be used as conventional contactless cashless payment card or the NFC Tag portion can be peeled off and affixed to a mobile phone. When placed on a mobile device, tomPAY™ enables contactless mobile payments and also can be used for loyalty or other applications. tomPAY™ can be adapted to support EMV-compliant (SDA/DDA) chips, opening new opportunities for card makers and issuers to provide their customers with an EMV-enabled tap-and-go experience.
"We are excited that our new tomPAY™ product is used at a major event like the London Olympics shortly after its launch a few weeks ago. We are gratified that tomPAY™ has been accepted and is expected to be used by up to 100,000 visitors for mobile payment at hospitality events in London," said Dr. Manfred Mueller, COO of Identification Products for Identive. "This is a great occasion to showcase our innovative NFC tags and our proprietary patented and patent pending technology in a challenging environment with a large number of users and daily transactions."
Identive developed its patented tom™ technology ("tag on metal") to overcome the issues inherent to RFID performance when in contact with metal surfaces. The performance of conventional RFID tags is adversely affected by exposure to interference generated from metals, such as the components of mobile phones.
About Identive
About Identive
Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV) is focused on building the world's signature company in Secure ID. The company's products, software, systems and services address the markets for identity management, physical and logical access control, cashless payment, NFC solutions and a host of RFID-enabled applications for customers in the government, enterprise, consumer, education and healthcare sectors. Identive's mission is to build a lasting business of scale and technology based on a combination of strong technology-driven organic growth and disciplined acquisitive expansion. The company delivers up-to-date information on its activity as well as industry trends through its industry-leading social media initiatives and educational resource, AskIdentive.com. For additional information, please visit www.identive-group.com or follow on Twitter at @IdentiveGroup.
Note: tom™ is a registered trademark and tomPAY™ is a trademark of Identive Group, Inc. All other trademarks are the property of their respective owners.
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