Motorola has made an equity investment in ViVOtech, a provider of contactless and mobile payment technologies. Financial terms of the deal were not disclosed.
Unlike other contactless technology offerings available on the mobile application market today, ViVOtech’s platform is designed for easy collaboration among issuers, mobile operators and technology providers to deliver the most intuitive and integrated consumer experience across a range of new customer services, claims ViVOtech.
Michael Mullagh, CEO of ViVOtech, said: ViVOtech creates more value for financial institutions and retailers by enabling the electronic payment transaction process. Our platform is transforming the way consumers spend money, make payments and purchases – making it so simple that any mobile phone user can securely and easily buy items with a simple wave of the mobile device at one of our NFC-powered contactless readers.