Sequent Software, a maker of products and services enabling mobile payments based on near-field communication, said it would work with ViVOtech Inc. in developing mobile wallet-based NFC payment technology for commercial customers.
Sequent, of Redwood City, Calif., creates software that enables telecommunication operators and handset manufacturers to add relevant data from consumers' various credit and prepaid cards, as well as transit fare cards and store loyalty cards, to NFC-enabled phones.
The technology would enable consumers participating in an eligible NFC-based mobile-payment program to initiate a purchase by selecting a payment channel from among various options in the mobile wallet application on their handset and waving the phone near an NFC-enabled contactless payment terminal.
ViVOtech, based in Santa Clara, Calif., operates as a trusted service manager whose technology provides a secure path to transfer sensitive payment data between banks, merchants, transit agencies and other systems.
The partnership, announced May 25, enables Sequent to move forward with certain commercial NFC projects, Drew Weinstein, Sequent's chief executive, said in a press release.
As efforts to launch NFC mobile payments worldwide gain momentum, the Sequent deal will enhance ViVOtech's efforts to deliver "rich NFC mobile [services] for in-store commerce," Mohammed Khan, ViVOtech's president, said in the press release.
