Motorola invests in mobile phone payment companyBy Erik Orejuela
In an effort to expand their portfolio, Motorola has recently announced an equity investment in ViVOtech, a company well known for its contactless and mobile phone payment technologies.
Today's on-the-go consumers are looking for simplified and more secure ways to pay for goods and services. Near Field Communication (NFC) technology is broadening the usefulness of mobile devices through short-range wireless connectivity which enables the phone to interact with payment systems for a wide variety of transactions, including those at the point-of-sale, ATMs and kiosks. ViVOtech's comprehensive NFC technology offerings enable these new mobile features to provide best-in-class payment transactions at merchant locations all over the world.
Seems the mobile phone is definitively preparing itself to become the most personal computer and investments in the evolving mobile commerce ecosystem are just another sign of it. Financial terms of the deal were not disclosed, but this type of investment may sometimes lead to a later acquisition.