VIVOtech Introduces Contactless Gift Card

VIVOtech has announced VIVOgiftcard, a contactless gift card solution for retailers.

 "The market for gift cards is immense and constitutes a critical element for adding revenues and growing a retailer's business. Gift cards are the fastest growing segment in the payment space with sales expected to total $36 to $38 billion for 2002, up 20% from the prior year. Gift cards account for 5% or more of total sales at major retailers," said Jorge Fernandes, CEO and co-founder of ViVOtech.

"Now, for the first time, retailers can differentiate their gift card product, enhance loyalty programs and provide a means to measure these programs. And they can help consumers at the same time by solving the wallet share problem and offering a delightful payment experience -- fast, flexible, secure and extremely convenient."