Company announces the selling of its ViVOpay unit
ViVOTech, a software developer for NFC-based mobile payment and marketing systems, has parted ways with its NFC technology reader unit this week. The ViVOpay unit was largely responsible for the development and deployment of mobile payment systems. The unit has been acquired by ID Tech, a smart card and contactless reader manufacturer. ID Tech has not provided financial information concerning the acquisition, but claims that the ViVOpay unit will serve to augment the company’s endeavors in providing valuable mobile commerce systems to consumers.
ViVOTech move part of an overarching mobile commerce strategy
ViVOTech notes that the move is part of the company’s strategy to divest the ViVOpay unit and make it available to a qualified company. The selling of the unit heralds the completion of the first step of this six-month strategy. ViVOTech has found a great deal of success in the payment software sector over its 11 year existance, but growing competition from larger technology firms that are entering into the mobile commerce space may be presenting the company with new challenges.
Company claims move will revitalize its focus on mobile commerce
The company notes that the sale of its mobile payment unit will enable it to focus on new ventures in mobile commerce. ViVOTech officials claim to be 100% focused on the development of new payment software and the service of its current customers. The company has not announced any solid plans concerning its future mobile commerce endeavors. Details regarding the company’s potential ventures are expected to be revealed in the coming months or at some point in 2013.
Mobile commerce competition may be difficult for smaller companies to handle
As one of the world’s fastest growing industries, mobile commerce is well known as being a highly competitive field. Large companies like Google, Apple, and several telecommunications companies, have been working to establish their presence in the mobile commerce market for some time. These companies have access to more resources than their smaller counterparts. As such, some of the smaller companies investing in mobile commerce may find competition somewhat difficult and must rely on innovation to find success in their field.
