Consumers Can Now Transfer Money (Person-to-Person Payments) And Make Retail Purchases At Contactless Stations Using ViVOtech?s Mobile Phone Wallet
SANTA CLARA, Calif.--ViVOtech Inc., the leading supplier of contactless payment solutions, and Obopay, the first comprehensive US mobile payment service, have partnered to allow Obopay users to access the ViVOwallet to conveniently and securely pay for retail goods by waving their near field communications (NFC) mobile devices in front of the more than 160,000 retail outlets equipped with a ViVOtech point-of-sale device.
By combining ViVOwallet mobile phone software and ViVOplatform Over-The-Air Provisioning Server Software for NFC Mobile Phones with the Obopay mobile payment service, customers will be able to access Obopay?s m-commerce functions - from sharing money with friends and transferring funds using a mobile device to making physical payments at merchants sites as well as a host of financial transactions and related services using the mobile pay service.
?We are empowering consumers to make payments in the most convenient way possible,? said Michael Mullagh, CEO, ViVOtech. ?Using ViVOwallet phone software, customers will be able to extend Obopay to make contactless point-of-sale purchases in a single solution, thereby arming them with the broadest set of payment options available on the market today.?
Now With Obopay, ViVOwallet users can use their mobile phones to make person-to-person (P2P) payments as well make purchases at physical stores that are enabled with ViVOtech contactless readers.
?Mobile phone adoption and evolving mobile user attitudes have combined in the U.S. to present a colossal, present-day market opportunity,? said Carol L. Realini, CEO and founder of Obopay. ?We are seeing in the U.S. the same trends that sparked massive adoption of mobile payments abroad, which makes our partnership with ViVOtech a very timely and exciting one.?
Using Obopay mobile payment service, consumers can instantly get, send and spend money using their mobile handset. Obopay accounts can be managed completely from the mobile handset, allowing users to check balances, request payments from other mobile users and view transaction histories. The service also allows e-commerce sites to accept payments directly from Obopay accounts, eliminating the awkward process of inputting credit card information.
The companies plan to offer ViVOwallet and Obopay as a single integrated application in 2007, simplifying the person-to-person and traditional POS payment experience even further. Committed to open standards, ViVOtech and Obopay are delivering key technologies to drive the mobile contactless payment industry which, according to a study published earlier this week from research firm Strategy Analytics, is poised to reach sales of $36 billion by 2011 at which time 30% of all mobile phones, i.e., 450 million units, shipped in that year will be NFC-enabled (ABI Research).
ViVOtech (www.vivotech.com) is the market leader in contactless/NFC payment software, transaction management systems, and readers. These innovative solutions allow consumers to make contactless payments with radio frequency-enabled credit cards, debit cards, key fobs, and NFC-enabled mobile phones. ViVOtech's products are used by some of the most prominent retailers in the United States. Currently, with more than 200,000 units in 18 countries, ViVOtech's products are in use at movie theaters, fast food restaurants (QSR), casual dining establishments, convenience stores, gas stations, drug stores, grocery stores, buses, taxicabs and vending machine locations, enabling a wide variety of businesses to accept contactless/NFC payments. In 2005, ViVOtech received the prestigious Frost & Sullivan technology award for its role in transforming the contactless payment industry, as well as winning the first annual ETA Technology Innovation Award. ViVOtech was recently honored with a MasterCard "Best Vendor Partner Award" as the first vendor to deliver stand-alone contactless readers for MasterCard PayPass customers.
Obopay is the first complete mobile payment service in the U.S. Obopay?s intuitive and easy-to-use mobile application is the most convenient way for consumers to get, send and spend money instantly. The Obopay team is comprised of executives who have worked previously at Visa International, Microsoft, AT&T Wireless, Western Union, First Data Corporation, Norwest Bank and Chordiant Software. Obopay was founded in 2005 and is based in Redwood City, Calif. For more information, please visit www.obopay.com.