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Motorola invests in RFID card and mobile payment outfit
Wednesday, November 14, 2007; Posted: 08:56 AM
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Nov 14, 2007 (Datamonitor via COMTEX) -- MOT | charts | news | PowerRating -- Motorola's venture capital arm has invested an undisclosed amount in RFID and mobile-phone payment technology developer ViVOtech.

Santa Clara, California-based ViVOtech develops hardware and software that enables cell phone users to pay for goods and services using RFID-enabled debit or credit cards, or using near-field communication mobile phones.

Other ViVOtech's products include promotion and transaction management infrastructure software, NFC smart posters, and RFID readers and writers.

ViVOtech said its contactless technology was unique because it was designed for collaboration among issuers, mobile operators and technology providers so that it could be used across a range of customer services. It claims some prominent US retailers as customers.

"This investment reflects Motorola's commitment to building and participating in a world class mobile commerce ecosystem," said Motorola Ventures managing director Reese Schroeder, in a statement.

Other ViVOtech investors include NCR, Nokia, Alloy Ventures, Draper Fisher Jurvetson, DFJ Gotham Ventures, Miven Venture Partners, and an undisclosed Fortune 500 company.

http://www.datamonitor.com

Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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