"Semtek's technologies, including its device-level encryption solutions, and large network footprint for decryption services will enable ViVOtech to offer end-to-end encryption to its clients on a global scale quickly and efficiently," said Mohammad Khan, president and founder of ViVOtech. "We are very pleased to be the first to take advantage of Semtek's open licensing model and offer an effective end-to-end security solution to merchants."
Semtek's Cipher Security Solutions, which include point-of-sale device encryption applications, software security and network-level decryption services, create a continuous security continuum from the time a card is used all the way through transaction completion. Semtek's Cipher Security Solutions, when paired with Semtek's card authentication and monitoring systems, protect payment card data from data theft and card counterfeiting throughout the entire use cycle.
"We are very pleased to add ViVOtech to our growing roster of payment device clients," said Patrick Hazel, President and CEO of Semtek. "We are committed to delivering not only the best technologies for security to the point of sale device sector, but also the highest potential business opportunities that come from being a part of our growing global network of merchants and network partners."
Under Semtek's global open licensing program, any point of sale device provider can inexpensively and efficiently integrate Semtek's Cipher Hidden Encryption for use on their devices. Upon activation, device providers are immediately inter-operable with Semtek's network-level decryption services, which are installed on payment processor hosts and large payment gateways around the world.
For more information about ViVOtech's contactless and NFC payment systems, visit www.vivotech.com.
Semtek Innovative Solutions Corporation is focused on resolving the security vulnerabilities of magnetic stripe, contactless, mobile, and EMV based payment systems and is playing an increasingly central role in the development and deployment of end to end security architectures that resolve the security risks associated with accepting and processing payment card data. For more information, please visit Semtek's website at www.semtek.com.
ViVOtech (www.vivotech.com) is the leading end-to-end enabler of next-generation mobile payments, loyalty and marketing solutions. ViVOtech provides mobile payment solutions, mobile marketing and loyalty applications software for existing as well as Near Field Communication (NFC) enabled mobile handsets, Over-The-Air (OTA) provisioning infrastructure software, NFC smart posters and contactless terminals. ViVOtech's products are used by most prominent retailers all over the globe; the company has shipped close to 700,000 contactless and NFC payment terminals to more than 35 countries. In 2009, ViVOtech received the prestigious Frost and Sullivan North American Smart Cards Product Line Strategy of the Year Award. In 2010, ViVOtech has won "2010 Mobility Award" for its NFC mobile ViVOwallet software, Smart Card Alliance Award "Outstanding Smart Card Achievement" (OSCA) Award for Innovation in Payments Technology and the Contactless Intelligence "Monkey" Awards for Competitive Advantage through Technology used by Citi Tap and Pay NFC Pilot. ViVOtech's investors include Citi, First Data Corporation, Motorola Ventures, NCR and Nokia Growth Partners.