Wireless - Monday, November 12, 2007
Motorola Invests In Payment By Cell Phone's Vivotech
We are fairly impressed with the variety of wireless eCommerce that Vivotech deploys. Vivotech has units that can interact with your cell phone whether you are at movie theaters, restaurants, stores, gas stations, in taxis, or using a vending machines. And Vivotech has a different unit for each situation.
The startup says it has more than 330K units deployed in 27 countries.
The idea her is that rather than whip out your wallet and credit card, a consumer will use his mobile phones to make payments and redeem coupons. They just download credit, debit, or gift card and data into their cell phones.
Today VivOTech announced that Motorola had made an investment of an undisclosed amount. This may be delayed news as VivOTech has been saying for sometime that an un-named Fortune 500 company was part of its investment group. Other VivOtech investors include First Data Corporation, NCR, Nokia, Alloy Ventures, Draper Fisher Jurvetson, DFJ Gotham Ventures, and Miven Venture Partners. Last August, it raised $22.5M in series C.
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