Contactless Technology: Direct Source And ViVOtech Team Up To Deliver New Contactless & NFC Mobile Payment Technologies Into Legacy POS Systems
ViVOtech, the leader in near field communication (NFC) and contactless payment systems, and Direct Source, a national retail integration, deployment and services provider, have partnered to help tier one retailers meet the demand for contactless payment systems, through new, easy legacy POS upgrades. The technology and its applications showcased at the National Retail Federation annual convention Jan. 13 to 16 in New York.
Contactless technology allows consumers to simply wave the card in front of a contactless reader connected to a POS terminal to make a fast and easy payment. According to the Smart Card Alliance, acceptance of contactless payments has resulted in higher throughput, increased spend per transaction and greater customer convenience for retailers. In addition to that, the same contactless readers can accept payments from consumers using Near Field Communication (NFC) mobile phones. By 2012, Juniper Research estimates that 470 Million NFC enabled phones will be in the hands of consumers worldwide.
"Retailers are quickly moving toward contactless technologies to stay on top of consumer demand," said Brad Fick, Direct Source president. "The high cost of implementing all new equipment has been a barrier up until now. Through our partnership with ViVOtech, retailers will now have a one-stop shop for cost-effective contactless technology hardware, integration, deployment and future applications."
For retailers, upgrading legacy hardware with contactless payment functionality can provide the benefits of contactless payment at a fraction of the cost of installing new systems, allowing retailers to protect their investment in existing equipment while improving service levels.
"Contactless adoption by retailers is gaining momentum," says Mohammad Khan, ViVOtech president and founder. "According to a recent Aberdeen Group report, 32 percent of 110 tier one and two retailers surveyed said they had already implemented or were implementing a contactless payment solution. Partnering with Direct Source provides us an even greater connection to the tier one retailer, where contactless payments are becoming well-established."
Direct Source and ViVOtech will be demonstrating their contactless and mobile phone payment solutions at the NRF show at booths # 2249 and 306, respectively.
About Direct Source:
Headquartered in Minneapolis, Minn, Direct Source is a nationally recognized retail integration and installation services provider for tier one retailers, with an expanding network of more than 1,500 regional installation specialists. Direct Source's flexible in-store solutions are designed to help retailers maintain a competitive edge, improve store productivity and customer service. Not influenced by individual manufacturers, single vision systems or the latest in unproven technologies, Direct Source draws upon its flexible, innovative, industry-encompassing experience to recommend independent solutions that help clients operate faster, smarter and more profitably.
About ViVOtech
ViVOtech is the market leader in near field communication (NFC) mobile payments, promotions and over the air (OTA) provisioning infrastructure software, transaction management software, NFC smart posters, and contactless terminals. These innovative solutions allow millions of consumers to make contactless payments with radio frequency-enabled credit/debit cards, fobs and NFC mobile phones. ViVOtech's products are used by the most prominent retailers all over the world. With more than 350,000 units deployed in 27 countries, ViVOtech products are used at movie theaters, fast food restaurants (QSR), casual dining establishments, convenience stores, gas stations, drug stores, grocery stores, buses, taxicabs, kiosks and vending machines, enabling a wide variety of businesses to accept contactless/NFC payments and promotions. ViVOtech is privately held and investors include First Data Corporation, Motorola, NCR, Nokia, Alloy Ventures, Draper Fisher Jurvetson, and an undisclosed Fortune 500 company.
SOURCE: ViVOtech