ViVOtech recently announced it concluded its initial Series D round of financial assistance and has now raised nearly $96 million since its incorporation. The increasing market impetus is now supported by ViVOtech, driving the speedy global development of mCommerce.

Retailers and all the key organizations in the mobile commerce environment are offered important mCommerce software and systems infrastructure by ViVOtech. Key financial services firms, top mobile carriers, smartphone OEM's and web-based companies like the Google (News - Alert) Wallet use ViVOtech’s software and Point-of-Sale or POS technologies.

ViVOtech has 328 customers in the United States and 181 customers internationally. More than 50 percent of NFC readers installed across the globe have been shipped by ViVOtech.

"Companies across the mCommerce ecosystem are racing to capture their share of what is expected to be a massive opportunity,” said Michael "Mick" Mullagh, Executive Chairman, ViVOtech. “This is driving strong demand for our software and systems. With this latest financing, we're armed to extend our leadership position providing the infrastructure needed to deliver on the promise of mCommerce."

Forrester Research (News - Alert) stated the implementation of NFC and other mobile payment technologies will be responsible for mobile commerce to touch $31 billion by 2016. Major mobile commerce proposals from Google, Isis, PayPal (News - Alert) and important financial services firms will be responsible for driving client acceptance.

During the next two years, an increasing number of NFC-ready devices are expected to launch in the market. Similarly, U.S. merchants are expected to comply with the EMV or Eurocard-MasterCard (News - Alert)-Visa standard by 2015. Merchants have therefore started enhancing their payment systems for supporting NFC payments, which will prove to be beneficial for ViVOtech.

Added Mullagh: “It's gratifying to see that, after many years of seeding the NFC reader market, we're now gaining strong commercial traction with our market-leading Trusted Service Management (TSM), Touch, Marketing and Loyalty software offerings for NFC- and QR code-based mCommerce initiatives."