Thursday, March 29, 2007

Visa Invests In Physical World Connection Player Ecrio

From Sys Con Ecrio announces strategic investment by Visa

Ecrio , the pioneer in real-time commerce and communications software for mobile phones, today announced a strategic alliance with Visa International, a global leading payment brand and the largest electronic payments network. The relationship includes an investment in Ecrio by Visa.

The funding will help Ecrio expand its offerings in two growing areas of mobile commerce: Near Field Communications (NFC) and MoBeam(TM) mobile barcode redemption, Ecrio's patented technology for 'beaming' barcodes from mobile handsets to laser point-of-sale terminals.

"MoBeam is the missing link between today's mobile consumer and a worldwide commerce infrastructure based on barcodes," said Nagesh Challa, Ecrio Chairman and CEO.

1 comment:

Tim said...

This is very exciting news. I look forward to the day when I no longer have to carry a wallet. However, Visa and Mastercard are monopolizing the payment industry and merchants and consumers are hurting because of it. I am working with the Merchants Payment Coalition to let others know the credit card industry makes billions off of these interchange fees each year.

While I am enthusiastic about the new technologies coming down the pipeline, I fear the power of the Visa/MasterCard monopoly will only worsen and lead to higher prices for basic goods and services.