ViVOpay Receives MasterCard PayPass Approval
Products also receive Visa, AmEx certification
SANTA CLARA, Calif. -- ViVOtech, a supplier of contactless payment solutions, said that multiple ViVOpay products have received vendor product approval from MasterCard International for use in its MasterCard PayPass program. This approval process assures the ViVOpay 3000 and 4000 readers conform to MasterCard's interoperability, usability, reliability and security requirements.
Last week, ViVOtech also announced that its ViVOpay products had received Visa certification. The ViVOpay 3000, 4000 and OEM readers conform to Visa's quality, performance, security [image-nocss] and reliability standards.
MasterCard PayPass is a contactless payment program. Using MasterCard PayPass, consumers tap their payment card, or alternative PayPass form factor, on a special reader like the ViVOpay 3000 or 4000 at checkout, eliminating the need for cash and coins or to hand their card to a clerk or swipe the card through a reader manually. The payment is authorized in seconds and no signature is required for transactions under $25 at quick payment-type merchants. MasterCard trials have shown that purchasing time can be reduced by as much as 12 to 18 seconds when compared to cash purchases.
"With the commercial rollout of contactless payment technology now ramping up, ViVOtech is well positioned to meet the needs of retailers and card issuers alike," said Mick Mullagh, CEO of ViVOtech. "ViVOtech is one of the first suppliers to have its contactless reader products formally certified by MasterCard. We anticipate significant demand in the marketplace as quick serve restaurants, theaters, convenience stores, parking garages, and stadiums continue to go contactless in the coming months."
Visa Contactless is based on industry standard technology whereby payment information is electronically transmitted between the card and the contactless reader at the point of the sale. Cardholders hold their card in front of the contactless reader, instead of swiping it. Contactless transactions are processed through the same secure Visa payment network as all magnetic stripe transactions.
Merchants who already accept Visa contactless payments and have deployed contactless readers at the point of sale include fast-food restaurants, convenience stores, drug stores, drive-thru retailers and other merchant locations where contactless payments deliver speed and convenience to consumers.
In late June, ViVOtech announced that its ViVOpay products had been certified by American Express for use in its ExpressPay program. The certification guarantees the ViVOpay 3000 and 4000 readers conform to American Express' reliability, security and performance standards.
ExpressPay, the American Express contactless payment alternative to cash, is being incorporated into the Blue from American Express credit cards. Users hold Blue with ExpressPay next to a special reader like ViVOpay 3000 and 4000 at checkout to make purchases. Payment is authorized in seconds and no signature is required.
Santa Clara, Calif.-based ViVOtech provides an end-to-end transaction platform that allows consumers to make contactless payments with radio frequency-enabled credit cards, debit cards, key fobs, cell phones, PDAs and identity cards. The company's products are backwards compatible with today's existing POS infrastructure, providing seamless upgrades. With more than 90,000 of its contactless payment readers shipped around the world, ViVOtech products are found in fast-food restaurants (QSR), casual dining establishments, corporate cafeterias, parking garages and movie theaters as well as convenience, grocery and drug stores.