ViVOtech, the leader in Near Field Communication (NFC) mobile phone and contactless payment systems, today launched the powerful ViVOpay 5000m payment system that delivers a single point of acceptance for both advanced contactless and legacy mag-stripe payment technologies (MSR).
New ViVOpay 5000m's Flexible Architecture Enables Advanced Contactless and NFC Mobile Payments and Supports Legacy Magnetic-Stripe Payments
The ViVOpay 5000m features an interactive display and hosts powerful merchant tools for advanced contactless and mobile phone payment programs. The multi-use ViVOpay 5000m is being introduced to retailers January 14 and 15, 2008 at the National Retail Federation's 97th Annual Convention and Expo in New York at ViVOtech's booth # 306.
ViVOpay 5000m is a contactless payment reader that can be easily adapted to extend new technology to existing POS and ECR systems. Providing integrated contactless payments and MSR functionality in one unit, the system also provides extra features for retailers adopting emerging mobile commerce and promotion applications based on NFC mobile phone technologies. ViVOpay 5000m's LCD screen lets merchants easily display transaction amount and customized messages that not only guide users through the payment process, but also communicate promotions, incentives and opportunities to their customers currently using NFC mobile phones or enrolled in advanced loyalty programs.
"According to recent analyst reports, there will be over 188 million contactless cards in the US alone and over 470 million NFC-enabled phones in operation worldwide2 by 2011. With such powerful tools already in the hands of consumers, retailers must be equipped with solutions that help them leverage these technologies and be able to easily offer advanced payment, loyalty and promotion services directly to their customers," said Mohammad Khan, ViVOtech President and Founder. "ViVOpay 5000m combined with NFC payments and promotions software enables retailers to offer the broadest support and exciting new services on the market today."