Philips and ViVOtech Advance NFC Payments
Royal Philips Electronics and ViVOtech have joined hands to advance “Near Field Communication” technology-based contactless payment and promotion solutions in physical merchant environments for the first time. The alliance will marry the “ViVOpay 3000” reader and an “NFC”-enabled mobile phone. Philips’ “NFC” is a combination of contactless identification and interconnection technologies that enables convenient short-range RF communication between personal electronic devices. ViVOtech provides software technology and reader infrastructure that allows consumers to make contactless payments with an NFC-enabled mobile phone at existing POS systems. NFC can also enable ViVOtech’s “ViVOwallet” software, which includes the ability to pay and to use loyalty cards, gift cards, SMS/MMS promotions, and e-coupons.