VIVOtech – positioned to profit

Total funding of nearly USD100 million

The USD23 million raised in VIVOtech’s latest round of funding brings its total to nearly USD100 million, a strong position for the NFC provider powering Google’s mobile payment scheme. The Google connection aside, it has a strong roster of investors and, not only does the mobile payment bandwagon continue to gain momentum, it’s also one sector where the wheels are highly unlikely to come off. Consumers may not be demanding the ability to make mobile payments yet, but the majority of analysts agree that it’s only a matter of time before mobile payments become a mainstream reality. The only question mark is over NFC. VIVOtech may be the number one NFC provider in the states, claiming to have shipped nearly 1 million NFC payment readers in total around the world and with Bloomberg BusinessWeek estimating it has 80% of the the US market. But it’s still not clear that NFC will become the preferred payment option. Square and others continue to eschew the technology and until there’s more evidence that the majority of merchants will embrace it’s there’s no guarantee NFC will power the majority of mobile payments in the future.

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