RIVERWOODS, Ill., -- August 2, 2006
– Discover
® Network, a business unit
of Discover Financial Services and Morgan Stanley
(NYSE:MS), today announced that it has certified
several ViVOtech readers, including ViVOpay 4000
and ViVOpay 3000 for use with Discover Network's
contactless payment application. These ViVOtech
technologies are the first readers approved for
use with Discover's fast, secure and simple contactless
payment platform.
“ViVOtech's solutions
meet our rigorous standards for security, reliability
and ease of use,” said Joby Orlowsky, vice president
of marketing for Discover Network. “This certification
brings us one step closer to providing our customers
with even greater convenience and simplicity through
Discover Network's contactless payments solution.”
By certifying these products, Discover
Network ensures that its proprietary contactless
payment solution is interoperable with ViVOtech's
reader technology. Contactless payment transactions
utilize radio frequency (RF), enabling customers
to simply wave their bankcard, key tag or other
form of payment that contains RF capability, in
front of an RF reader to pay for their purchases.
The ViVOpay 4000 and the ViVOpay 3000 readers
allow for quick transactions in a variety of retail
counter environments with the wave of a card.
“Discover Network's certification of
multiple ViVOtech solutions shows that momentum
is building quickly in the contactless payments
market,” said Michael Mullagh, CEO of ViVOtech.
“Discover Network's certification of ViVOtech's
technology assures retailers that they are buying
a product that raises the bar in usability, performance,
and security – and one that can be used with a
payment brand that is already embraced by their
customers.”
In addition to providing
consumers with unparalleled convenience, contactless
payment methods offer multiple merchant benefits.
They allow retailers to move more customers through
checkout lines in less time, resulting in transaction
volume increases of up to 12 percent. And, a recent
study showed that contactless payment helps increase
average transaction size by up to 30 percent compared
to cash spending.
About
Discover Network and Discover Financial Services
Discover Financial Services LLC, a business
unit of Morgan Stanley (NYSE:MS), operates the
Discover Card with more than 50 million Cardmembers,
and the Discover Network, which is the largest
proprietary credit card network in the U.S. with
more than 4 million merchant and cash access locations.
Discover Financial Services also operates the
PULSE ATM/debit network, which serves more than
4,200 financial institutions and includes nearly
250,000 ATMs and approximately 3.4 million POS
terminals. For more information, visit
www.discovercard.com,
www.discovernetwork.com
or
www.pulse-eft.com.
About ViVOtech ViVOtech
(
www.vivotech.com)
is the market leader in contactless/NFC payment
software, transaction management systems and readers.
These solutions allow consumers to make contactless
payments with radio frequency-enabled credit cards,
debit cards, key fobs, and NFC enabled mobile
phones. ViVOtech's products can be found at some
of the most prominent retailers in the United
States. With more than 175,000 units shipped,
and installed in 16 various countries, ViVOtech's
products are being used by movie theaters, fast
food restaurants (QSR), casual dining establishments,
convenience stores, gas stations, drug stores,
grocery and vending machine locations enabling
them to accept contactless/NFC payments.
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CONTACT:
Leslie Sutton
Discover Financial
Services LLC
(224) 405-3965