23 October 2017
visit www.response.ncr.com

First Data makes strategic investment in NFC outfit Vivotech

03 May 2007  |  7628 views  |  0 s dish

First Data has led a series C funding round in US contactless payments outfit Vivotech.

The scale of the funding was undisclosed. First Data has also committed to use Vivotech's Near Field Communication (NFC) terminals, wallets and over-the-air provisioning for mobile commerce.

Barry McCarthy, president of product innovation at First Data Commercial Services, comments: "As one of the many technologies First Data will be supporting, our recent investment in Vivotech furthers our objective of bringing a new generation of terminals and mobile phone-enabled payment services to our financial institution and merchant clients."

Vivotech’s current investors - Alloy Ventures, Draper Fisher Jurvetson, and Nokia Growth Partners - also participated in the round. Vivotech was advised by San francisco-based FT Partners.

A recent report by ABI Research forecasts NFC chips to be embedded in 292 million handsets, or 20% of all phones worldwide, by 2012.

Currently, with more than 250,000 units in 22 countries, Vivotech's products are in use at cinemas, fast food restaurants (QSR), convenience stores, petrol stations and vending machines.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US contactless cards to hit 109m by 2011

US contactless cards to hit 109m by 2011

03 May 2007  |  5849 views  |  0 comments
First Data to acquire FundsXpress

First Data to acquire FundsXpress

17 April 2007  |  6155 views  |  0 comments
KKR to acquire First Data for $29 billion

KKR to acquire First Data for $29 billion

02 April 2007  |  11459 views  |  0 comments
First Data to buy Polish card processor Polcard

First Data to buy Polish card processor Polcard

30 March 2007  |  8016 views  |  0 comments
First Data to explore creation of cross-border fraud database

First Data to explore creation of cross-border fraud database

29 March 2007  |  10363 views  |  0 comments
Wells Fargo sells Instant Cash Services business to First Data

Wells Fargo sells Instant Cash Services business to First Data

16 March 2007  |  9319 views  |  0 comments
First Data teams with NCS to deliver m-payments services

First Data teams with NCS to deliver m-payments services

15 March 2007  |  8680 views  |  0 comments
ABI Research downgrades NFC projections

ABI Research downgrades NFC projections

13 September 2006  |  8217 views  |  0 comments
Sport fans to test PayPass wristband; NFC m-payments trials hailed a success

Sport fans to test PayPass wristband; NFC m-payments trials hailed a success

06 September 2006  |  9550 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.vasco.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19554 views comments | 28 tweets | 42 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15227 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10995 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9055 views comments | 14 tweets | 28 linkedin

Featured job

Find your next job