infoTECH Feature

August 19, 2011

ViVOtech Releases NFC mCommerce and EMV Payments

ViVOtech recently announced the availability of the new point of sale terminal (POS) for payments and the NFC mobile commerce. ViVOtech is a near field communication (NFC) software and systems company. This new reader could save potential and eligible merchants over $2 billion a year in payments to validate Payment Card Industry Data Security Standard (PCI (News - Alert)-DSS) costs under a Visa Inc. initiative. This elimination of costs means better service and more profits for eligible merchants. This was designed as part of the Visa Technology Innovation Program. This will eliminate the costs paid towards PCI-DSS validation.

ViVOtech’s latest ViVOpay 8100 terminals are built to accept the traditional magnetic swipe cards, chip cards, stripes, contactless cards, and NFC enabled phones. This was the stipulation laid down by Visa for the Visa initiative to accelerate the migration of Eurocard-MasterCard (News - Alert)-Visa (EMV) contact and contactless chip technology in the United States.

In a release, Visa wanted to motivate the merchants and they said, “Effective October 1, 2012, Visa will expand its Technology Innovation Program (TIP) to the U.S. TIP will eliminate the requirement for eligible merchants to annually validate their compliance with the PCI Data Security Standard for any year in which at least 75 percent of the merchant's Visa transactions originate from chip-enabled terminals. To qualify, terminals must be enabled to support both contact and contactless chip acceptance, including mobile contactless payments based on NFC technology.”

The industry association for Smart Card alliance in their annual estimates said that they estimate that more than $2 billion a year in spent on PCI-DSS fraud protection validation costs alone. The new ViVOpay 8100 contains both EMV-Ready and NFC checkout technology.

ViVOtech’s CEO Michael (Mick) Mullagh said, “Viva Visa! It's about time the U.S. joins the rest of the world, which has been using highly secure contact and contactless chip technology for nearly a decade. We applaud Visa's efforts to advance adoption here. And, we have the affordable technology available today in the new ViVOpay 8100 for merchants to take advantage of Visa's incentives while benefiting from rich NFC mobile commerce.”

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2011, taking place Sept. 13-15, 2011, in Austin, Texas. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.

Calvin Azuri is a contributing editor for TMCnet. To read more of Calvin’s articles, please visit his columnist page.

Edited by Jennifer Russell

Subscribe to InfoTECH Spotlight eNews

InfoTECH Spotlight eNews delivers the latest news impacting technology in the IT industry each week. Sign up to receive FREE breaking news today!
FREE eNewsletter

infoTECH Whitepapers