Discover Network, a subsidiary of Morgan Stanley, has certified several Vivotech readers to support its contactlesss payment application.
By certifying the ‘ViVOpay 4000’ and ‘ViVOpay 3000’ products, Discover Network says it ensures system interoperability with Vivotech’s reader technology.
Contactless payment transactions utilize radio frequency (RF), which lets customers wave their bankcard, key-tag or other payment form with RF capability in front of an RF reader to pay for purchases.
Discover Network’s certification of Vivotech’s technology assures retailers that they are buying a product that raises the bar in usability, performance, and security and one that can be used with a payment brand that is already embraced by their customers, said Michael Mullagh, CEO of Vivotech.
Discover Network claims that in addition to providing consumer convenience, contactless payment methods offer merchant benefits such as increasing transaction volume by moving more customers through checkout lines. A recent study showed this payment method helps increase average transaction size by up to 30% compared to cash spending.