Tuesday, October 4, 2011

NFC Data & NFC Rumors Release Market Survey to Enlighten Industry of Investment Opportunities in NFC


CHICAGO, Oct. 4, 2011 /PRNewswire/ -- NFC Data and NFC Rumors are announcing their first collaborative endeavor to enlighten the emerging NFC industry by performing a 3-week independent market survey series based on the two blogs' vast reach. Recognizing a gap in identifying the real market demands from consumers in response to NFC technology, NFC Rumors and NFC Data have partnered to create an independent survey to understand the NFC market demands and identify investment opportunities for both developers and investors.
While recognizing that most NFC studies and surveys have focused on broad issues regarding mobile payments and operating within a cashless ecosystem, the two blogs seek for more specific information from real consumers. "We want to know information on how people would use NFC products and services, how many times they will use them in a day at work or school, and how much they are willing to pay for them," explains Seth Planck, Editor-in-Chief of NFC Rumors. "It's real data feedback like that that will send a message to the industry. We want investors to know how to invest in NFC, how prolific NFC technology can be in the hands of the people. Corporations can fund an entire NFC department, but the independent developers and small companies have been left on the bench."
Both blogs have long known that lack of investment in NFC has been a major factor in the lack of advancement of NFC technology, and NFC Data and NFC Rumors aim to ensure that NFC gets started on the right foot. Part of that is relying on independent research rather than paid surveys.
Ultimately, both blogs realize that advancement in the NFC space will only happen by knowing the right information. "My perspective as a technologist is to figure out what features that NFC provides will give users the fastest marginal utility and drive adoption," shares Ken Mages, Founder/CTO of NFC Data. "Having been in the payment space the last twelve years, it is NOT payments necessarily which will move the NFC needle but perhaps the synchronous/asynchronous nature of storing and forwarding data that matters most. We hope to uncover these answers in our survey."
Participation in the survey is encouraged for anyone, from industry leaders to tech enthusiasts and everyone in between. Please visit http://nfcdata.polldaddy.com/s/nfc-market-questionaire-series-1 to contribute your perspective to help shape the future of NFC.
BACKGROUND
NFC Data is a hardware and software developer integrating payment and/or marketing opportunities for NFC (Near Field Communication) projects.  Our perspective is neutral and we apply ISO standards to provide solutions for our customers.
Contact: Ken Mages, 1-260-632-7468, kmages@nfcdata.com
As a dedicated and independent news and editorial blog, NFC Rumors focuses on bringing to light contactless technologies and its relationship to the global evolution of business and culture. Covering everything from near field communications to gadgets, media, marketing, and social related topics, NFC Rumors is a convergence of everything contactless.
Contact: Seth Planck seth@nfcrumors.com
SOURCE NFC Data
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Banks Losing Ground on Debit and Credit Card Security



Banks losing ground on card security


Related Topics

A generic picture of a some credit cards and debit cards. BANKG REUTERS/Catherine Benson
By Ross Kerber
Tue Oct 4, 2011 2:50pm EDT
(Reuters) - U.S. banks are losing ground in the battle to combat credit and debit card fraud, a new report shows, underscoring the growing threat thieves and hackers pose for the financial system.

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Monday, October 3, 2011

OfficeMax Teams Up with Google Wallet to Provide Customers with Faster, Easier Shopping Experience Using Their Smart Phones


At More Than 100 OfficeMax Stores Customers Can Use Google Wallet to Pay, Redeem Coupons, and Use Their MaxPerks Rewards Membership with a Tap of Their Phones

NAPERVILLE, Ill., Oct. 3, 2011 /PRNewswire/ --  OfficeMax® Incorporated (NYSE: OMX), a leader in office supplies, technology and services, today launched new checkout terminals in more than 100 stores that harness Google Wallet to enable customers to pay, redeem coupons and reap the benefits of OfficeMax's MaxPerks® Rewards loyalty program, all with a single tap of their mobile phones.
These new contactless payment terminals, powered by MasterCard PayPass™, are available in OfficeMax stores throughout the greater New York, Chicago, Los Angeles, San Francisco and Washington D.C. markets. OfficeMax is the first office supply retailer to implement the full range of Google Wallet features – payment, coupon redemption and loyalty programs – to help customers save time and money on their in-store purchases. It's also the first national office supply retailer to accept mobile payments through Google Wallet.
"OfficeMax is interested in using the very latest technology to deliver a faster, easier and personalized in-store shopping experience for our customers, and mobile payments with Google Wallet lets us do just that," said Ryan Vero, Executive Vice President and Chief Merchandising Officer at OfficeMax. "It's one of many recent mobile programs we've rolled out to help provide customers with a truly customized and engaging shopping experience."
Google Wallet, which is available today on the Sprint Nexus 4G phones, is an app that turns consumers' phones into their wallets. The app securely stores virtual versions of a consumer's payment and rewards credentials, which can be used in stores with the tap of a mobile phone.
"OfficeMax has used Google Wallet to make shopping easier by enabling shoppers to pay, redeem coupons, and earn MaxPerks with one simple tap of their phone at the register," said Osama Bedier Vice President of Payments at Google. "We're excited to have OfficeMax join a fast growing ecosystem by demonstrating how easy it is to implement the Google SingleTap experience."
Google Wallet uses near field communication (NFC) to make secure payments by tapping an NFC-enabled phone on any MasterCard PayPass-enabled terminal at checkout. The new mobile payment terminals at OfficeMax featuring PayPass Tap & Go™ will accept payments using Google Wallet, as well as other contactless payment devices that use RFID and NFC.
"For the past decade, MasterCard has led contactless payment innovations, delivering greater payment options to both consumers and merchants," said Craig Vosburg, Group Executive, U.S. Market Development, MasterCard Worldwide. "OfficeMax's adoption of this technology reinforces a shared goal of providing consumers a faster, more convenient checkout experience."
Google Wallet is a partnership between Google, MasterCard Worldwide, Citigroup Inc., Sprint Nextel Corp. and First Data Corp.  
Growing Mobile Marketing Efforts
Accepting mobile payments in retail stores via Google Wallet is the latest step in OfficeMax's aggressive mobile marketing strategy. In 2009 and 2010, OfficeMax launched a mobile shopping app and mobile-friendly web site that allow customers to view and purchase office supplies, find a store, check weekly ads and receive personalized deals through its MaxPerks Rewards program. With the recent launch of the OfficeMax ImPress® Mobile Print Center app, available for iPhone and Android, OfficeMax is the first national print retailer to offer full-service mobile printing via cloud printing technology. OfficeMax also reaches customers with offers and updates through its SMS text alerts program.
About OfficeMax
OfficeMax Incorporated (NYSE: OMX) is a leader in both business-to-business office products solutions and retail office products. The OfficeMax mission is simple. We help our customers do their best work. The company provides office supplies and paper, in-store print and document services through OfficeMax ImPress®, technology products and solutions, and furniture to businesses and individual consumers. OfficeMax customers are served by approximately 30,000 associates through direct sales, catalogs, e-commerce and nearly 1,000 stores. Since 2007, OfficeMax Goodworks(SM) programs have served communities and schools, contributing more than $14 million in grants and supplies to support teachers and classrooms. To find the nearest OfficeMax, call 1-877-OFFICEMAX. For more information, visit www.officemax.com.
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Vantiv and AmeriMerchant Offering Working Capital


Referral Relationship Benefiting Merchants

CINCINNATI, Oct. 3, 2011 /PRNewswire/ -- Vantiv, LLC (formerly, Fifth Third Processing Solutions, LLC) one of the nation's largest premier full service payment solutions providers announced today that the company has entered into a merchant cash advance referral relationship with AmeriMerchant to offer working capital to Vantiv merchants including those affiliated through Vantiv's subsidiary, National Processing Company (NPC).  
Vantiv supports nearly 400,000 merchant and financial institution locations, and many of those merchants are seeking alternatives to traditional lending resources for other cash advance options. AmeriMerchant, one of the oldest and largest providers of merchant cash advances across the country, has the resources and support to fulfill this crucial need. Through this arrangement, Vantiv, NPC, and their participating alliance of partners and independent sales organizations, can make AmeriMerchant's merchant cash advance program available across its sales verticals as a preferred merchant working capital solution.
"Today it has become very difficult for many small and medium-sized companies to obtain needed working capital to grow their businesses," says David Goldin, President and CEO of AmeriMerchant.  "Companies are in desperate need of an alternative to fund expansion and growth. Together with Vantiv, we provide solutions.  More than ever, AmeriMerchant's merchant cash advance program is filling an important void in the current marketplace."
"We selected AmeriMerchant for their outstanding reputation in the marketplace, their financial stability and their proven experience executing large scale partnerships," said Bill Weingart, Chief Product Officer, at Vantiv.  "In today's fast-changing and competitive payments marketplace, Vantiv is a leader in developing fast, easy and reliable payment solutions for all sizes of businesses. Our relationship with AmeriMerchant is another excellent opportunity to support our valued merchant customers by offering them a convenient resource they may need - working capital."
The Vantiv and AmeriMerchant referral relationship allows a working capital product to be offered to an extensive merchant base through both a direct sales channel as well as partner channels/independent sales organizations (ISOs) to a mostly untapped population of merchants. This preferred partner status will also provide alliance partners and ISOs with a value-added service that can allow them to avoid selling on price and at the same time keep attrition under control.  
About Vantiv, LLC
Vantiv, LLC is one of the largest providers of payment strategies and technology solutions for financial institutions and businesses worldwide. Formed in 1971 and most recently known as Fifth Third Processing Solutions, LLC, the Company builds strategic partnerships with its customers, helping them become more efficient, more secure and more successful.  Headquartered in Cincinnati, Ohio, Vantiv, LLC is a joint venture between Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
Vantiv, LLC supports more than 400,000 merchant and financial institution locations and 12,000 ATMs in 46 states and 8 countries. The company processes more than 11.4 billion ATM and POS transactions and nearly $400 billion in debit and credit sales volume annually.  Its subsidiary, NPC, is one of the largest providers of payment processing services exclusively focused on the small-to-medium merchant processing market. According to the Nilson Report (March 2011), the Company is the largest PIN Debit U.S. acquirer and third largest U.S. merchant transaction acquirer ranked by general purpose transaction volume. For more information, visit www.vantiv.com.
About National Processing Company
Based in Louisville, Kentucky, with additional facilities in Houston, Texas and Chicago, Illinois, National Processing Company (NPC) is the largest provider of payment processing services exclusively focused on the small-to-medium merchant processing market.  NPC provides a wide range of payment processing services, from point-of-sale credit card and debit card processing to integrated e-commerce solutions.  NPC is a subsidiary of Vantiv, LLC.  Learn more at www.npc.net.
About AmeriMerchant
Founded in 2002, AmeriMerchant is one of the nation's oldest and largest providers of working capital to merchants against their future credit/debit card sales, commonly known as a merchant cash advance. Through its sister company CanaFunding, the company also provides merchant cash advances to Canadian businesses. AmeriMerchant is committed to industry best practices and is a founding member of the North American Merchant Advance Association (NAMAA). For additional information about AmeriMerchant visit www.amerimerchant.com or call 800-267-3790.
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Transact Network Live with Visa Europe


Visa prepaid services now available to Transact's 100+ partners -

GIBRALTAR, Oct. 3, 2011 /PRNewswire/ -- Transact Network, a leading European prepaid card issuer, is now offering its services through Visa Europe. Transact Network is a Principal Member of Visa Europe.   The Company has completed the implementation of its first Visa bank identification numbers (BINs).  Two new Visa Europe prepaid programs will be going live this month.
Transact Network is one of only a handful of European prepaid issuers offering prepaid card programs under both major card schemes, giving more choice to existing and new program managers and brand partners.
Kriya Patel, Sales Director, said: "As a principal Visa member, we are underlining our leading position in the prepaid market. We are now a one-stop-shop for our current partners, and have a stronger proposition for potential partners looking to implement new prepaid card programs.
"Transact Network has already issued over half a million prepaid cards with over 100 partners.  With the addition of Visa prepaid card programs, we hope to double our cards issued over the next six months."
Fiona Duncan, Senior Vice President, Prepaid at Visa, said: "We welcome Transact Network to Visa Europe. At Visa Europe we estimate that the cardable opportunity for Prepaid in Europe will be euro 442 billion by 2015, so we are tremendously excited by the opportunities this brings to our members."
About Transact Network
Transact Network is a MasterCard and Visa Europe Principal Member providing European BIN sponsorship and modular prepaid services.  Transact Network's electronic money and payment service permissions have been successfully passported to every EU and EEA member state enabling the issuance of prepaid card programs across Europe.  The Company's proprietary modular prepaid card service platform enables bespoke, scalable solutions, rapid implementation, low entry costs, reliable ongoing management and proven risk reduction.  The Company can implement a prepaid program from concept to launch in approximately 90 days. Transact Network is a licensed and authorized e-money institution by the Gibraltar Financial Services Commission and has fully owned subsidiaries and offices in England, Spain, India and Bulgaria, as well as affiliated sales offices in France and Germany.
For more information about the types of products and services Transact Network provides please visit:http://www.transactnetwork.com
About Visa Europe
In Europe, there are 430 million Visa debit, credit and commercial cards. In the 12 months ending March 2011 those cards were used to make purchases and cash withdrawals to the value of euro 1.6 trillion. 12.5% of consumer spending at point of sale inEurope is with a Visa card, and more than 70% of that is on Visa debit cards.  
Visa Europe is owned and operated by more than 4,000 European member banks and was incorporated in July 2004. InOctober 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission's objective to create a true internal market for payments.
Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in over 200 countries.
For more information, visit www.visaeurope.com
SOURCE Transact Network
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Citibank Ripping Off Consumers with Staggering $15 Monthly Debit Card "Extortion" Fee Says Consejo


EAST LOS ANGELES, Calif., Sept. 30, 2011 /PRNewswire/ -- Consejo de Latinos Unidos, a national consumer advocacy group and public charity which educates and assists Latinos and others, slammed Citibank today for imposing a $15.00 flat monthly fee against EZ Checking Debit Card holders beginning November 10th.
"Instead of controlling their greed, Citibank is ripping off consumers with a staggering $15 monthly debit card fee," declared K.B. Forbes, Executive Director of the Consejo de Latinos Unidos. "Citibank has placed a loaded gun on the temple of Citibank consumers demanding they maintain a $6,000 balance or pay $180 a year in extortion fees. In this economy, how many working-class families have $6,000 to cough up to the goons at Citibank?"
Forbes added, "We demand that Citibank immediately and unilaterally reverse this outrageous decision to extort the earnings of hard-working, tax-paying Americans. I call on Citibank's CEO Eugene M. McQuade to immediately end this racket especially since taxpayers bailed out his institution with $20 Billion in TARP funds."
Forbes noted that Citibank operates in key cities with heavy numbers of working-class Latino families, including Los Angeles,Miami, New York, Chicago, Las Vegas, and the District of Columbia. "We have a Citibank branch just up the street from our headquarters in the heart of East Los Angeles," Forbes added.
Since 2001, the Consejo has published ten investigative reports on hospital price gouging, pharmaceutical company abuses, religious intolerance, and police abuse. The investigative reports and efforts of Consejo de Latinos Unidos have provoked several U.S. congressional probes including hearings by the U.S. House Energy and Commerce Committee and the U.S. Senate Finance Committee.
K.B. Forbes is the founder of the Consejo de Latinos Unidos and has testified or provided documentation to several governmental bodies and agencies including the U.S. House Energy and Commerce Committee, the California Legislature, the Pennsylvania Civil Rights Enforcement Division, the Colorado Civil Rights Commission, the Chicago City Council, and the Florida Legislature.
"We will hold Citibank accountable for their egregious behavior," Forbes vowed.
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John J. Leehy III Appointed to ATMIA Board of Directors


October 03, 2011 10:11 AM Eastern Daylight Time 
President & CEO of Payment Alliance International Committed to Betterment of ATM Industry
LOUISVILLE, Ky.--(BUSINESS WIRE)--Payment Alliance International (PAI), a leader in electronic payment processing solutions and the Electronic Transactions Association’s (ETA) 2011 “ISO of the Year,” is pleased to announce the appointment of John J. Leehy III, president and chief executive officer of PAI, to the prestigious ATM Industry Association (ATMIA) board of directors.
“The ATMIA board is an outstanding group of international industry leaders and I’m excited to be a part of it”
As an independent, non-profit trade association, ATMIA’s mission is to promote ATM convenience, growth and usage worldwide; protect the ATM industry's assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations.
Payment Alliance International is the largest ATM deployer in North America, with more than 56,000 locations in the PAI Alliance Network. Uniquely positioned in the payments marketplace, PAI offers custom ATM branding and management programs, a variety of electronic payment solutions for retailers, referral programs for financial institutions and market partner distributor programs that encompass credit and debit processing, check services, cash management solutions and retail ATM programs and services.
Tom Harper, ATMIA president and president of NetWorld Alliance, the publisher of ATMmarketplace.com, stated, “John is a welcome and needed addition to the board. His experience, reputation and breadth of knowledge will help us broaden our effectiveness throughout the ATM and payments industry.” Harper adds, “I’m even more excited about ATMIA’s future with John on board.”
“The ATMIA board is an outstanding group of international industry leaders and I’m excited to be a part of it,” says Leehy. “The ATM industry is at an important point of transformation and opportunity, and ATMIA is at the heart of shaping these changes. I look forward to contributing in whatever way I can.”
About Payment Alliance International (PAI)
Payment Alliance International is a leading provider of payment processing solutions for businesses nationwide and has been recognized as the 2011 “ISO of the Year” by the Electronic Transactions Association (ETA). We are the nation’s largest deployer of ATMs and provide ATM processing and maintenance services, ATM equipment sales and support and ATM branding programs. We also provide comprehensive payment solutions including credit, debit, and prepaid card acceptance services, remote deposit capture and check processing, mobile payments and eCommerce solutions … all designed to maximize customer success and make business easy. Payment Alliance International is based in Louisville, Ky., with offices in West Palm Beach, Fla., Jackson, Miss. and Billings, Mont. For more information, please visit www.GoPAI.com.

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Discover Offers Cardmembers Premium Tickets and an Exclusive Experience at the 2012 Orange Bowl


October 03, 2011 07:00 AM Eastern Daylight Time 
Cardmembers Have Flexibility of Redeeming Cashback Bonus® Rewards, Using Their Discover Cards or Combining Both to Purchase Game Day Tickets and an Exclusive Experience
Former Ohio State Quarterback and Current ESPN College Football Analyst Kirk Herbstreit Appears in New “Peggy” Ad
RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) today announced that it is offering cardmembers the chance to purchase premium tickets to the 2012 Discover Orange Bowl along with an exclusive Orange Bowl experience in South Florida. Cardmembers can purchase their tickets to the game by redeeming Cashback Bonus® rewards, or using their Discover card.
“We’re always looking for relevant and simple ways to reward our cardmembers for their loyalty to Discover”
To help celebrate the Discover Orange Bowl on January 4, the company is offering an exclusive experience for cardmembers ordering their tickets at www.discover.com/orangebowl, including:
  • A sneak peek at the Orange Bowl half-time entertainment the night before the game
  • Access to the Orange Bowl Fan Zone on game day
  • Admission to the pre-game Discover Tailgate Party featuring food, beverages and entertainment
“We’re always looking for relevant and simple ways to reward our cardmembers for their loyalty to Discover,” said Jennifer Murillo, vice president of brand communications at Discover. “With just a few clicks of the mouse, our cardmembers are given an exclusive advantage over others to buy tickets for some of the best seats in the house. They can redeem their Cashback Bonus to purchase tickets, and enjoy exclusive access to pre-game and game-day family-friendly Discover events. It really is a huge win for our cardmembers.”
To coincide with the Orange Bowl offer and their support of college football, Discover has also launched its newest “Peggy” ad featuring former Ohio State quarterback and current ESPN college football analyst, Kirk Herbstreit, as he grapples with some of the challenges consumers encounter when calling their card’s customer service department. The 30-second commercial spot highlights Discover’s award-winning customer service while positioning Peggy, a likable, but incapable customer service representative for the fictitious U.S.A. Prime Credit Company, as a person who frustrates callers with long hold times, excessive transfers and the inability to solve problems. The new ad is a follow-up to the “Peggy” ads Discover launched in 2010 that featured legendary college football coaches, Bobby Bowden and Lou Holtz.
As part of the Orange Bowl experience, existing Discover cardmembers also have the option to select a new card design that features the official Discover card Orange Bowl logo imprinted on a vibrant orange background.
Discover is title sponsor of the Orange Bowl and the official card of the Orange Bowl and Bowl Championship Series. Discover cardmembers will have the opportunity to redeem their Cashback Bonus rewards, use their Discover cards, or combine both to purchase Discover Orange Bowl tickets starting October 1. The 2012 Discover Orange Bowl will be played on January 4 at 8:30 p.m. ET, and will air on ESPN and ESPN Radio.
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mobeam Closes $4.9 Million Series A Venture Round


October 03, 2011 09:47 AM Eastern Daylight Time 

mobeam Closes Initial Venture Round

mobeam will drive evolution of mobile couponing and ticketing with new light based communications that enable mobile phones to send information to the more than 165 million red laser scanners already in use around the world
CUPERTINO, Calif.--(BUSINESS WIRE)--mobeam, inc. (www.mobeam.com) announced today that it has closed a $4.9 million Series A venture round, receiving funding from yet2Ventures, Samsung Ventures and Mitsui, together with other independent investors. mobeam’s patented technology overcomes the technical barrier preventing mobile phones from interacting with the laser scanners used at retail locations around the world. Funds from this multimillion dollar funding round will be used to establish mobeam’s light based communications (LBC) technology as a new industry standard allowing mobile phones to interact with point of sale (POS) technology. mobeam is also using these new funds to accelerate business development efforts with major consumer and retail brands for mobile couponing and other broad mobile commerce initiatives.
“mobeam’s technology addresses virtually every POS environment”
“Laser scanners are used in all major retail locations throughout the world, yet no current mobile technology can communicate with them, except for mobeam,” said Ben duPont, general partner of yet2Ventures. “Increasingly, mobile phones are the centerpiece of everyone’s daily lives, but in order to deliver a complete digital commerce experience they must communicate universally with scanners at point of sale. That’s the beauty of mobeam; ‘mobeaming’ a barcode works accurately and reliably every time, and it makes the technologies retailers already have far more useful while adding a new layer of intelligence gathering for retailers and brands.”
Due to the way mobile handset screens are constructed, even the most vibrantly displayed barcode cannot be read by the commonly used laser scanners found at point of sale in most retailers. mobeam technology affordably adapts existing mobile technology to already deployed retail POS infrastructure, opening the door to a wide range of previously impossible mobile commerce programs and services.
mobeam’s patented light based communication (LBC) technology utilizes LED technology already used on the vast majority of handsets to transform barcodes into a beam of light that every laser scanner can read. This technology makes it possible, for the first time, for a phone to present a coupon that can be easily and conveniently scanned and redeemed, without the need for retailers to upgrade their technology. Beyond mobile couponing, mobeam’s technology brings applications such as mobile ticketing and other mobile content enabled services to the next level.
“mobeam’s technology addresses virtually every POS environment,” said Chris Sellers, CEO of mobeam. “Not only is mobeam the only way to use light to interact with a laser scanner, our technology can also simultaneously display 2D images and initiate NFC transmission, making it possible for retailers, brands and device manufacturers to rethink mobile commerce. mobeam is solving a significant problem for consumers, brands, retailers and every other player along the retail value chain. The potential for mobeam’s light based communications technology – from mobile couponing to ticketing to mobile content – promises to be a tremendous industry game changer.”
About mobeam
mobeam, inc. is transforming mobile commerce with its unique and patented light based communications technology. Overcoming the technical barrier preventing mobile phones from interacting with laser scanners at checkout, mobeam’s technology provides universal access at point of sale (POS), enabling the transmission of coupons, gift cards, tickets and other barcode data at retailers worldwide. mobeam’s technology powers new capabilities for existing mobile phone designs, and requires no changes to retailer POS infrastructure. mobeam is headquartered in Cupertino, California. For more information visit www.mobeam.com.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies' core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
About Mitsui
Mitsui Ventures is a venture investment arm of Mitsui & Co., Ltd. on a mission to invest in venture companies worldwide. Mitsui Ventures consists of MVC Corporation, investing mainly in Japan, China and other Asian countries with three offices in Tokyo, Shanghai and Beijing, and Mitsui & Co. Venture Partners, Inc., investing mainly in North America with two offices in New York and Silicon Valley.
About yet2Ventures
yet2Ventures is an Open Innovation venture capital fund and is affiliated with yet2.com, a firm that has offered intellectual property and licensing services globally since 1999. Yet2Ventures partners with industry and focuses on start-ups delivering revolutionary products to market, in medical devices, electronics, mobile, materials science, and consumer products. It has offices in; Boston, Tokyo, Liverpool, and Wilmington, Delaware. For more information on yet2Ventures and yet2.com, visit www.yet2ventures.com or www.yet2.com; or call 1-781-972-0600.

Contacts

Mobility Public Relations
John Sidline
+1 503-946-3311
mobeam@mobilitypr.com
Press kit: http://mobeam.mobilitypr.com
Twitter: mobeam
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