Amazon Jumping into NFC Mobile Payment Arena?

Amazon considering jump into NFC mobile payments

Apr. 4, 2011 (5:31 am) By: Brian Osborne

Amazon may soon become a player in mobile payments using near-field-communication (NFC) technology. NFC, already used in some credit cards, allows users to simply tap their mobile phones to pay for goods or services while also being able to receive loyalty points or other retail information on their handset. If Amazon is truly looking at utilizing NFC technology they would be in good company. Other well-known adopters including Microsoft, Apple and Google are already planning to offer their own NFC solutions via software, devices, or services of their own. AT&T, T-Mobile USA and Verizon Wireless have also indicated their interest in this new market through a joint venture named Isis.

Why are there so many companies looking to get into mobile payments or NFC related services? They’ve seen the predictions by Gartner and ABI Research indicating that by 2014 340 million consumers will use mobile payments for transactions totaling $245 billion. Some of these payments may be powered by NFC as handsets with the technology begin increasing in number and are expected to double in 2012 from 35 million shipped this year.

Servicing mobile payments is nothing new to Amazon since they have already introduced a service called Amazon Payments which allows consumers to send and receive money online or through their mobile phones. Most would agree that NFC mobile payments would be a natural extension of this service. In addition to NFC mobile payments, Amazon is also looking at NFC-based marketing services allowing consumers to tap the NFC tag of a product located in a retail store to find it on Amazon’s website.

No final decision has been made by Amazon to officially enter the NFC mobile payment market, but Bloomberg cites one of its sources who say that a decision is expected in the next three to five months.

Read more at Bloomberg

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PayCommerce Previews Cloud-Based SMB Universal Payments Platform

AUSTIN, Texas, April 4, 2011 /PRNewswire/ -- NACHA Payments 2011, Booth #909 -- PayCommerce today began previewing a cloud-based platform that provides small-to-medium sized businesses (SMBs) with a universal business payments solution to automate receivables and payables and integrate the processing and global settlement of virtually all forms and types of payments.

PayCommerce is providing ISOs, banks and other resellers with a cloud-based "Platform-as-a-Service" SMB solution they can easily implement for their customers and which integrates with existing accounting software – from QuickBooks to Oracle and SAP.

"SMBs need an easy-to-use, on demand solution for payables and receivables that supports global and multiple payment types, and works with existing back office software," said PayCommerce CEO/Founder Abdul Naushad. "PayCommerce is providing acquirers and other service providers with an enterprise-grade payments and remittance infrastructure they can deliver to SMBs with the efficiency and cost-effectiveness of the cloud."

The company's PCI-validated universal business payments solution offers a single source for all customer billing and payment activity and access to multiple processors and payment types, fraud management, and security services.

Supporting business-to-business (B2B) and business-to-consumer (B2C) payments and receivables across vertical segments, PayCommerce's platform is intuitive, flexible, modular, scalable, and reliable. Subscription businesses can use the PayCommerce cloud-based services to accelerate revenue cycles, while reducing cost and improving efficiency.

The PayCommerce platform leverages a global settlement and remittance network that interfaces with major payment clearinghouses worldwide and supports credit/debit, PIN-debit, Electronic Funds Transfer, domestic or international wire transfers, and more using a single integrated payment gateway.  

PayCommerce, headquartered in Princeton, N.J., is a privately founded company that offers a comprehensive range of payment methods that can be quickly implemented through its cloud-enabled platform. The company was rated as one of the AlwaysOn 2010 OnDemand Top 100 Private Companies that are pioneering cloud computing and SaaS.  

About PayCommerce

PayCommerce is delivering an integrated cloud computing platform that provides customers with next-generation universal business payment solutions for vertical market segments. Our solutions are designed for ease-of-use and cater to small and large size business markets to provide superior value to companies in a cost effective and efficient manner. We strive on innovation and we are working hard every day to improve and deliver outstanding value to our customers. For more information, visitwww.paycommerce.com

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Discover Financial Services Names Graf New Chief Financial Officer

How Much Money Do You Have?

April 04, 2011 09:00 AM Eastern Daylight Time 

RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) today announced that R. Mark Graf, 46, has been named executive vice president, chief financial officer and chief accounting officer. Graf will oversee Discover’s financial operations, including treasury, accounting, investor relations and all financial reporting functions. He will report directly to David Nelms, chairman and chief executive officer for Discover.

“Mark’s track record of leadership and deep expertise in banking and financial services make him a strong addition to our senior team,” Nelms said. “As Discover continues to grow and develop our markets, Mark’s contributions and perspective will be invaluable.”Graf was most recently an investment advisor with New York-based Aquiline Capital Partners, a private equity firm specializing in investments in the financial services industry. Prior to that, he was a partner at Barrett Ellman Stoddard Capital from 2006 to 2008. Graf was executive vice president and chief financial officer for Fifth Third Bank from 2004 to 2006, after having served as its treasurer from 2001 to 2004.

Editor's Note:  Is it me or has money always been the number one issue when it comes to Graf's?  

“I look forward to joining Discover,” Graf said. “They have established an impressive track record of managing the business during some challenging times, which has positioned them well to capitalize on the opportunities ahead.”Graf will succeed Roy Guthrie, who has served as CFO for six years. Guthrie will remain with Discover to help ensure a smooth transition period.

“We are grateful for Roy’s tremendous contributions and steady guidance, and we wish him the very best in retirement,” Nelms said.

Graf will begin his new role at Discover April 11.

VeriFone and Hypercom Announce Agreement to Sell Hypercom’s U.S. Payment Systems Business

Looks like Ingenico has beaten ViVotech and will acquire Hypercom's U.S. Assets...

April 04, 2011 01:00 AM Eastern Daylight Time 

SAN JOSE, Calif. and SCOTTSDALE, Ariz.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE:PAY), and Hypercom Corporation (NYSE:HYC) announced today that they have reached an agreement to sell the U.S. payment systems business of Hypercom to Ingenico S.A.

The transaction is expected to close immediately prior to completion of VeriFone’s acquisition of Hypercom, which is expected to occur in the second half of 2011, subject to certain closing conditions. The aggregate purchase price to be paid by Ingenico is $54 million in cash, subject to certain post-completion price adjustments. In 2010, the Hypercom U.S. business included in the agreement achieved revenues of approximately $61 million. Following the completion of the merger, VeriFone will retain Hypercom’s non-payment terminal Networking products operations in the U.S.

The sale is part of the contemplated divestiture previously announced by VeriFone in connection with its proposed acquisition of Hypercom. The agreement marks an important milestone in the path to the completion of Hypercom's merger transaction with VeriFone.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

About Hypercom (www.hypercom.com)

Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.

Hypercom is a registered trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

Contacts

VeriFone Systems, Inc.
Investor Contact:
Doug Reed – Vice President, Treasurer and Investor Relations
408-232-7979
Email: ir@verifone.com
or
Editorial Contact:
VeriFone Media Relations
Pete Bartolik, 508-283-4112
Email: pete_bartolik@verifone.com

Related articles

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Western Union and Online Resources Team for Last Minute Payments

April 04, 2011 08:00 AM Eastern Daylight Time 

CHANTILLY, Va., & ENGLEWOOD, Colo.--(BUSINESS WIRE)--Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, and The Western Union Company (NYSE:WU), a leader in global payment services, today announced both companies have teamed to provide financial institutions enhanced same-day, expedited payment solutions.

“Payment channels are evolving quickly as originators and consolidators are finding new ways to impact the speed, cost and accuracy in all bill payment channels”

The combination of these two premier payment processors significantly expands the options available to consumers who want to make last-minute bill payments to billers through the websites of more than 500 financial institutions. Western Union brings to Online Resources’ banking clients a greatly enhanced expedited payments service that now includes same-day delivery and posting to many more prominent billers in the mortgage, credit card, auto finance, telecom, cable, utility and other industries.

The offering enables financial institutions to provide the speed of delivery options, posting accuracy and value that their consumers demand for same-day payments in any channel.

“Payment channels are evolving quickly as originators and consolidators are finding new ways to impact the speed, cost and accuracy in all bill payment channels,” said David Shapiro, Senior Vice President of Western Union Payments. “By integrating our expedited payments network with a market leader in online banking, Western Union and Online Resources can offer a powerful tool for the entire payment industry.”

“By teaming with Western Union, we are delivering on the value and promise that banks envisioned for expedited payments: a broad-reaching service that is highly attractive to consumers,” said Robert R. Craig, Executive Vice President of eCommerce Services for Online Resources. “The combined reach and speed to billers will drive adoption of the service through financial institutions, and deliver more guaranteed, on-time payments to billers.”

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions-branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. The Western Union, Vigo and Orlandi Valuta-branded services are offered through a combined network of 445,000 Agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit www.westernunion.com.

About Online Resources

Online Resources (Nasdaq: ORCC) specializes in powering financial interactions between millions of consumers and the company’s financial institution and biller clients. Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, Online Resources has been recognized for its high growth and product innovation. It is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com.

eWise Transfers Headquarters from Sydney to Denver

April 04, 2011 08:03 AM Eastern Daylight Time 

eWise Transfers Headquarters and Incorporates in the United States

eWise to Join US Bank and FamilySearch International on Secure Vault Payments Panel at Payments 2011

NACHA Payments 2011

DENVER--(BUSINESS WIRE)--Today, eWise, a provider of online payment and personal financial management solutions, announced the recent transfer of its corporate headquarters from Sydney, Australia to Denver, Colorado and incorporation in the United States under the name eWise Group, Inc. This is significant to the US market as it brings, for the first time, real-time, secure and simple financial solutions to banking institutions and their customers that have not been possible by other forms of alternative payments.

“Secure Vault Payments continues to grow in its size and penetration”

“We see the U.S. Market as the cornerstone of our future growth and development,” said Alex Grinberg, CEO, eWise. “eWise is designed to offer banks an entirely new revenue stream, where there has previously only been costs. This results in increased loyalty from their customers, who now have a fast and easy way to make secure payments and manage their online transactions right from their bank account.”

eWise, along with NACHA – The Electronic Payments Association®, have developed Secure Vault Payments, a safe, secure and private online payment network. In preparation of the commercial release, eWise secured major venture capital funding to help support the rollout of Secure Vault Payments and expanded the leadership team to include the roles of Senior Vice President of Sales and Network Development, Senior Vice President of Marketing and Senior Vice President of Product and Strategy. In turn, these senior leaders have continued to grow their staffs to support the growth and development of the network.

Since the commercial release of Secure Vault Payments late third quarter in 2010, the network has enjoyed successful momentum with regular announcements of new members to the network, most notably the announcement in November of US Bank’s participation and strong support.

In the short time since joining the network, US Bank has announced several agreements including FamilySearch International. “Launching Secure Vault Payments allows U.S. Bank to give our business customers a cost-effective, low risk option to accept online payments while also offering our consumer banking customers one of the safest ways to pay online,” said Jeff Jones, executive vice president for treasury management at U.S. Bank. “It’s a win-win for everyone in the payment chain.”

To capitalize on the growing support and expertise of current and soon to be announced participants, eWise, with NACHA’s support, announced the creation of the Secure Vault Payments Marketing Advisory Council. “Secure Vault Payments continues to grow in its size and penetration,” said Jan Estep, president and CEO, NACHA. “As participation expands, user experiences will be critical to informing future needs. The expertise the council members bring to the table will help guide market development for Secure Vault Payments.”

eWise will join US Bank and FamilySearch International representatives in the panel discussion “A Case Study: Secure Vault Payments” at the NACHA’s 2011 Payments Conference in Austin, Texas, April 4 at 1:30 p.m. CDT.

About eWise

eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology and account management services. eWise is a payments and online financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in US, UK, China and Australia support some of the world’s top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com.

Contacts

104 West Partners
Johanna Erickson, 720-407-6077

Google: NFC will Bridge Gap Between Online and Offline Shopping

NFC Phones to bring the ease of web shopping to the high street
By Mary Bransco - TechRadar.com

If you thought the NFC chips that Google has started putting into Nexus phones are just there to turn your Android phone into a Google credit card, think again; Google's plans for real-world shopping are much more ambitious than that, according to Google's Osama Bedier, vice president of platforms for mobile and new ventures.
It's not just about avoiding the ads for things we already own that 75% of us see online, although Bedier would clearly like to make that more efficient. And when he says that 20% of people are more likely to buy something that a friend or family member has recommended it sounds like the FTC's privacy penalties for Buzz haven't discouraged Google from considering the opportunities in social networking.
What Bedier wants to do is use the smartphone - which he calls "the iconic device of this decade" - to bridge the gap between online and offline shopping.
"We're about to see some major changes. It has the promise to bring best of both worlds. Online you get unlimited inventory and the best prices; offline you get to touch and feel the product and you get to take it home with you immediately."
Some UK stores are already combining the two, he points out, "Dominoes in the UK already gets a third of their delivery orders online. Tesco has the fifth most downloaded app on iTunes that allows you to scan grocery items in the store and put then on your online grocery cart for online checkout."
The Google vision
Bedier's vision of the future of commerce "begins to look like shopping did fifty years ago, when everyone shopped at the local store". But instead of the shopkeeper knowing you because you've shopped there for years, remembering your favourites and offering you credit if you've left your wallet at home, Bedier says technology can give shopping the personal and convenient touch.
"I should be able to walk in the store and that store greets me. I decide to share my identity, I decide to share my location and when I walk in the store it greets me by name, it tells me the cheese I like is available. The fridge may have already looked at what I'm out of and created a shopping list - and it also included ingredients from recipes I liked on Epicurious.
"And that shopping list turns into an in-store map where I navigate the most efficient way. If I get to an item that's out, I scan the barcode and it tells me where else I can buy it or have it delivered to my house. And when I go to check out I walk with that shopping cart directly out of the door. NFC stickers on all the items can actually tell whether the item is paid for or not and the sensor lets it go through."
Already possible
All the technology is there today, Bedier claims - the problem is making it interoperable.
"First, payments need to go digital." Today shops make the choice of what payment methods to accept based on things like how much it costs them to process the payments; he wants to see the choice go to the customer.
"All my cards - whether they're credit cards, debit cards, gift cards, private label cards - they need to move into the platform, they all need to be digital and they need to be available to me at any store I want to use them. I need to be able to use my choice of cards, not what the merchant wants to accept."
And like web sites, stores should tell you what's in stock (think of a Google search that covers physical shops): "Consumers should be able to find an item in real time at any store online or off and to be able to pick it up and buy it right there. Inventory needs to live in the cloud. A merchant used to sell in a physical store and the web came along and they made a copy of that storefront. Now mobile is coming along and that model wont scale any more. Inventory needs to move and live in the cloud."
None of that is going to work if you have to create an account to tell every shop you go into who you are. "Identity needs to be interoperable," says Bedier. "The whole idea of going to store by store by store and signing up for gift cards and credit cards, all this signing up - no. Identity needs to work seamlessly across merchants across devices, across use cases."
It's a grand vision that needs shops and stores to reveal a lot more information - like inventory levels - than they usually make public; and we're not sure how well banks will take to making all your different cards work on the same payment system or how much we'd like shops that remember us a la Minority Report.

Read more: http://www.techradar.com/news/phone-and-communications/mobile-phones/google-nfc-will-bridge-gap-between-online-and-offline-shopping-939661#ixzz1IHJhTAPQ

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Google and Intel Become Principal Members of NFC Forum, QR Codes Dead?

Near Field Communication Forum Announces 32 New Members

CSR, Google, and Intel Become Principal Members

WAKEFIELD, Mass.--(BUSINESS WIRE)--The NFC Forum, a non-profit industry association that advances the use of Near Field Communication (NFC) technology, today announced that Google, Inc. is joining the organization as a Principal member. CSR and Intel, formerly Associate Members, have raised their membership status to the Principal level. Since its founding in 2004, the NFC Forum has drawn market-leading organizations from around the world to its membership roster as momentum builds for the adoption and implementation of Near Field Communication technology.

“The NFC Forum thrives on the active participation of global industry leaders and innovators such as CSR, Google, and Intel”

Principal membership is the second-highest level of membership in the NFC Forum, with each Principal member entitled to appoint a voting representative to each of the Technical, Marketing, and Compliance Committees and Working Groups. Principal members may designate individuals to run for positions leading Committees or Working Groups, and they may propose initiatives and contribute to the development of Forum deliverables. As Principal members, organizations may also participate in the NFC Forum testing and certification program using their own in-house test labs.

The NFC Forum has also welcomed 31 new Associate, Implementer, and Non-Profit members from across the NFC ecosystem. New Associate members include: A&D Company, Limited; AQ Corporation; China Telecommunication Technology Labs; Communications Global Certification Inc.; Daimler AG; FIME; Hitachi, Ltd.; ICT Korea, Inc.; Kovio, Inc.; KTC (Korea Testing Certification); National IT Industry Promotion Agency RFID/USN Center; Rohde & Schwarz GmbH & Co. KG; SK C&C USA; SOLIATIS; Sporton International, Inc.; TA Technology (Shanghai) Co., Ltd.; TTA; and VI Service Network Co., Ltd. Joining recently as Implementer members were: 3A Logics Co., Ltd.; DeviceFidelity, Inc.; HOTech; i-Free; MagTek, Inc.; MStar Semiconductor, Inc.; MtekVision Co., Ltd.; Poken S.A.; Sysnet Group; TUOMI IT S.A.; Via Licensing Corporation; and Waldemar Winckel GmbH & Co. KG. LOGyCA joined as a Non-Profit member.

"The NFC Forum thrives on the active participation of global industry leaders and innovators such as CSR, Google, and Intel," said Koichi Tagawa, chairman of the NFC Forum. "Their energy, ideas, and influence will greatly enhance the work of the Forum, as will the support of our new Associate, Implementer, and Non-Profit members from around the world."

About Near Field Communication Technology

NFC technology makes life easier and more convenient for consumers around the world by making it simpler to make transactions, exchange digital content, and connect electronic devices with a touch.

A standards-based connectivity technology, NFC harmonizes today's diverse contactless technologies, enabling current and future solutions in areas such as access control, consumer electronics, healthcare, information collection and exchange, loyalty and coupons, payments, and transport.

NFC technology is supported by the world’s leading communication device manufacturers, semiconductor producers, network operators, IT and services companies, and financial services organizations. NFC is compatible with hundreds of millions of contactless cards and readers already deployed worldwide.

About the NFC Forum

The NFC Forum was launched as a non-profit industry association in 2004 by leading mobile communications, semiconductor, and consumer electronics companies. The Forum’s mission is to advance the use of Near Field Communication technology by developing specifications, ensuring interoperability among devices and services, and educating the market about NFC technology. The Forum’s 135 global member companies currently are developing specifications for a modular NFC device architecture, and protocols for interoperable data exchange and device-independent service delivery, device discovery, and device capability.

The NFC Forum’s Sponsor members, which hold seats on the Board of Directors, include leading players in key industries around the world. The Sponsor members are: Broadcom Corporation, INSIDE Secure, MasterCard Worldwide, Microsoft Corp., NEC, Nokia, NTT DOCOMO, Inc., NXP Semiconductors, Renesas Electronics Corporation, Samsung, Sony Corporation, STMicroelectronics, and Visa Inc.

Contacts

NFC Forum Public Relations
Ruth Cassidy, +1 617-957-8494
ruth.cassidy@nfc-forum.org

Related articles

• Google Ditches Barcodes for NFC (readwriteweb.com)
• Google becomes key NFC Forum member, drops QR from Places (electronista.com)
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• Google Joins NFC Forum, To Get "NFC Forever!!!" Tattoo Next Week (mobilecrunch.com)
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Mocapay Named Best in Category Winner in Fifth Annual Paybefore Awards

April 01, 2011 08:03 AM Eastern Daylight Time 

2011 Prepaid Expo USA

DENVER--(BUSINESS WIRE)--Paybefore has announced that Mocapay, a mobile consumer engagement platform, was selected as the Best in Category winner for the Business-to-Consumer or -Employee category. The award recognizes Mocapay’s partnership with Wow Bao, a restaurant concept from Lettuce Entertain You Enterprises. Paybefore Awards, now in its fifth year, is the most prestigious recognition of excellence in the worldwide prepaid and stored value card industry. Mocapay received the honor during the Paybefore Awards ceremony at Prepaid Expo USA in Orlando, Florida.

“The Paybefore Awards ceremony is the culmination of a long nomination and review process, where the judges painstakingly compare the merits of many fantastic programs. We are thrilled to honor Mocapay with the Best in Category distinction, which is the highest honor we bestow”

“We are thrilled to be selected a Best in Category winner,” said Doug Dwyre, president, Mocapay. “Mocapay continues to leverage its secure mobile platform and provide merchants a new channel to engage with customers in and out of stores.”

Mocapay was selected by a panel of five industry experts who served as judges for this year’s competition, which—once again—included a record number of entries from around the world.

“Paybefore Awards were created to celebrate the innovators in our industry who are using prepaid to transform payments with ever-more efficient and accessible products,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel.

“The Paybefore Awards ceremony is the culmination of a long nomination and review process, where the judges painstakingly compare the merits of many fantastic programs. We are thrilled to honor Mocapay with the Best in Category distinction, which is the highest honor we bestow,” she continued.

Wow Bao partnered with Mocapay in 2010 to implement a mobile marketing solution within its Chicago-based restaurants. Using Mocapay's mobile platform, Wow Bao has been successful at offering real-time mobile comp cards in promotional and customer service related situations.

About Mocapay

Mocapay is a mobile platform for innovative merchants that offers an integrated marketing and sales solution to enhance the lifetime value of a customer. The platform addresses merchants' need for a new channel that will broaden their reach to customers anytime, not just at the point of sale, encourage purchases and build a stronger brand affinity. Based in Denver, Mocapay is a privately held, venture funded company founded in 2006. For more information, visit www.mocapay.com

About Paybefore

Paybefore is the leading information provider to prepaid and stored value industry professionals, offering the latest news, commentary and analysis. Paybefore’s family of industry publications include: Paybefore.com™, a searchable online news and information portal; Paybefore News™, daily electronic news briefs; Paybefore News International™, a weekly compilation of prepaid news and events from outside the United States; Paybefore Update™, a downloadable e-newsletter delivered 20 times a year; Paybefore Legal™, a downloadable e-newsletter covering the legislative, regulatory and judicial developments in prepaid, as well as feature articles by leading attorneys in the field; Paybefore Magazine™, a biannual print publication featuring in-depth articles; and the only industry directory, Paybefore Buyer’s Guide™, available online and in print. Visit us at www.paybefore.com.

Contacts

104 West Partners
Johanna Erickson, 720-407-6077
Johanna . Erickson@104west .com

ViVOtech Approaches VeriFone to Acquire Hypercom’s US Assets

March 31, 2011 03:17 PM Eastern Daylight Time

Competitive Mobile Payment, Loyalty, Marketing, Merchandising Solutions Market Demands Choice and Innovation, Says NFC Pioneer

SANTA CLARA, Calif.--(BUSINESS WIRE)- ViVOtech, the near field communication (NFC) software and systems company, today announced that it has approached VeriFone Systems, Inc. (NYSE: PAY) to acquire the U.S. assets of Hypercom Corporation (NYSE: HYC). VeriFone said in November it would divest Hypercom’s U.S. assets following its acquisition of the electronic payments company, which is expected to close in the second half of this year.

“NFC mobile commerce is on the cusp of becoming reality,” said Michael (Mick) Mullagh, ViVOtech CEO. “VIVOtech’s acquisition of the Hypercom U.S. assets would allow us to accelerate the adoption of this revolutionary new technology and ensure that a vigorous and competitive market emerges to drive innovation and choice.”

ViVOtech’s NFC software and systems are the broadest, most tested and deployed worldwide. VIVOtech provides the key building blocks of the NFC ecosystem: smart applications, wallet and provisioning software, and point of sale systems. To date, ViVOtech has shipped more than 800,000 contactless NFC readers. Through its direct and OEM channels VIVOtech has 80% share of U.S. deployments, including nearly 100% of VeriFone’s current U.S. contactless NFC reader deployments.

“We see this as a strategic and transformative opportunity for ViVOtech to enhance our next-generation NFC platform, and accelerate the adoption of in-store mobile payment, loyalty, marketing and merchandising solutions in the U.S.,” said Mullagh. “ViVOtech is the only U.S.-based company in a position to support and provide continuity to Hypercom’s customer base and become a strong, viable third competitor in the highly competitive U.S. market.”

ViVOtech believes the current payment and merchant ecosystem in the U.S. – including the customers and partners of the three leading providers, and emerging participants in the electronic and mobile payment market – will support ViVOtech’s acquisition of the Hypercom assets.

“We have the experience, the track record, the management team, and the unanimous support of our Board to pursue this acquisition and make it successful,” said Mullagh.

ViVOtech is well capitalized and has been strongly supported by a broad base of financial and strategic investors. The company has retained Morgan Keegan and Wilson Sonsini Goodrich & Rosati to assist in the evaluation of the Hypercom assets acquisition.

“We’re able to move quickly and help facilitate the regulatory approvals required to close the acquisition of Hypercom by VeriFone, and guarantee the emergence of a strong next generation NFC focused competitor in the US market,” said Mullagh.

About ViVOtech

ViVOtech, the near field communication (NFC) software and systems company, enables rich mobile commerce solutions for in-store payment, loyalty, marketing, and merchandising. Merchant, payment, mobile, web and advertising companies use ViVOtech solutions to enhance customer experience and grow their business. VIVOtech’s NFC software and systems are the broadest, most tested and deployed worldwide. Founded in 2001, Silicon Valley-based ViVOtech provides the key building blocks of the NFC ecosystem: smart applications, wallet and provisioning software, and point of sale systems. ViVOtech’s’ investors include Alloy Ventures, Citigroup, Draper Fisher Jurveston, First Data Corporation, Miven Ventures, Motorola Ventures, Nokia Growth Partners, NCR, and Sprint. Join the NFC revolution at http://www.ViVOtech.com.

Contacts

SS|PR
MEDIA CONTACT:
Kristin Miller, (719) 634-8292
kmiller@sspr.com

Related articles

• ViVOtech Introduces ViVOnfc Software Suite 3.0 (krowne.wordpress.com)

Zong Releases Index of Global Mobile Spending

March 31, 2011 01:00 PM Eastern Daylight Time 

Zong Payment Index Shows Strong Growth in Mobile Payments Worldwide

MENLO PARK, Calif.--(BUSINESS WIRE)--Zong today released the first installment of a new monthly report, the Zong Payment Index (ZPI), which tracks the spending patterns of Zong’s global user base and is broken down by its top 40 markets. The ZPI reflects three factors: (1) consumer willingness to use their mobile phone to buy digital goods online; (2) consumer ability to use their mobile phone to make purchases as determined by mobile operator policies (e.g., spending limits) and (3) the cost of mobile payments as determined by mobile operators’ fees which sometimes result in consumer surcharges.

“We are releasing the information publicly so that the industry can also gain from the value of these insights and extrapolate the results to other areas of mobile payments.”

The index is anchored by metrics from January 2010 and measures average monthly spend per user in comparison to that baseline.

“The ZPI helps us understand how our customers are using Zong and how we can improve the experience for them. We are dissecting how the different factors such as merchant availability and operator policies have a huge and direct effect on consumer behavior,” said David Marcus, CEO of Zong. “We are releasing the information publicly so that the industry can also gain from the value of these insights and extrapolate the results to other areas of mobile payments.”

The first installment of the ZPI introduces data and analysis up to February 2011. A summary of key findings include:

#1. The global aggregate index shows that the average monthly spend per Zong user is up 37% in the last 12 months. This growth is attributed to an increase in available Zong merchant locations, lower transaction fees, and the introduction of higher spending limits set by mobile operators.

#2. Total spend per Zong customer increased more than 50% in the last 12 months in Canada, Switzerland, Czech Republic, Germany and The Netherlands. Growth in user spend is primarily a result of operators changing spending limits and allowing customers to spend more per transaction when using Zong.

#3. In the US, the monthly spend per user decreased 8% from January 2011 to February 2011. This was primarily driven by a top tier carrier temporarily decreasing the monthly spending limit from $100 to $25. The limit has since increased back to $100, allowing for an expected growth in monthly spend per Zong customer.

The full report is now available at http://www.zong.com/about/zong-payment-index. Each monthly report will be found and archived here.

About Zong

Zong is the leading mobile payments platform for sellers of digital goods and services. Its frictionless payment experience converts shoppers into buyers at rates up to 10 times greater than traditional payment methods. Zong leverages direct connections with mobile network operators around the world to provide a secure payment solution with unrivaled connectivity and service quality. Zong is the mobile payment provider for Facebook Credits and is also accepted at over a thousand digital merchant sites. Reaching 3.2 billion mobile users, Zong provides localized payment capabilities in over 40 countries in 21 languages. Zong is based in Menlo Park with offices in Paris, Geneva, and Dusseldorf, and is backed by Matrix Partners, Advent Venture Partners and Newbury Ventures. For more information, please visit www.zong.com.

Contacts

Press
Brew Media Relations
Dorothy Jean, 212-677-4835 x12
zongpr@brewpr.com