Sequent Software, a maker of products and services enabling Near Field Communication-based mobile payments, on May 25 announced the selection of Vivotech Inc. as its partner in developing mobile wallet-based NFC payment technology for commercial customers.
The Redwood City, Calif.-based company creates software that enables telecommunication operators and handset manufacturers to add relevant data from consumers’ various credit and prepaid cards, as well as transit 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 securely transfer sensitive payment data between banks, merchants, transit agencies and other systems.
The partnership enables Sequent to move forward with certain commercial NFC projects, Drew Weinstein, Sequent’s CEO, said in a press release. The company was not immediately available to discuss its NFC deployments.
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 president, said in the release.
