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Vesta Corporation

Company: Vesta Corporation, Portland, Oregon
Company Description: Headquartered in Portland, OR, with operations in Europe and China, Vesta has been a pioneer and leader in electronic payments since 1995. Vesta’s clients include AT&T, Boost Mobile, China Unicom, Ericsson, Payzone, and T-Mobile. The company has achieved extraordinary growth, and was inducted into the Inc. Hall of Fame for five consecutive years as an Inc. 500 fastest growing private company.
Nomination Category: Products & Product Management Categories
Nomination Sub Category: Best New Product or Service - Telecommunications

Nomination Title: Handset-Based Wireless Recharge

 

  1. Tell the story about this nominated product or service (up to 500 words). Describe its function, features, benefits, and sales to date. You may include hyperlinks to product photos and data sheets. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

    In today’s tech-savvy world, mobile devices are necessary components to
    communicating with business associates, friends and family. A lapse in
    connectivity is inconvenient and unacceptable. Understanding the 37 million US
    prepaid wireless customers want to add minutes anytime, anywhere, Vesta
    Corporation created an electronic payment solution that enables just that.
    In July 2007, Vesta, a leading provider of electronic payment solutions,
    received a patent for “OneButton Recharge,” a service enabling wireless
    consumers to refill their prepaid accounts directly through their handset. The
    technology provides an interface to the consumer, manages the transaction,
    screens for fraud, and adds funds in real time to the customer’s account.

    With the rapidly growing population of prepaid wireless consumers worldwide, it
    was crucial to develop a type of payment solution that provided real-time
    top-up, directly through the handset, that works across a variety of handset
    technologies.

    OneButton is designed for flexibility, leveraging WAP, BREW, JAVA, and SIM-based
    applications for use with a variety of wireless phones and networks. Transaction
    security is a core component of the service, reducing the likelihood that a
    consumer’s password or payment information can be intercepted.

    Vesta partner, T-Mobile USA, has received widespread approval from its customer
    base in response to the addition of this convenient, value-add service.
    OneButton recharge is available through the carrier’s proprietary t-zones menu
    on select handsets.

  2. List hyperlinks to any online news stories, press releases, product reviews, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

    Vesta Press Release:
    http://www.trustvesta.com/press/press_20070424.aspx

    USPTO Patent Database:
    http://patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=
    HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=
    1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN%2F7242922


    Product Collateral:
    http://www.trustvesta.com/mobile.aspx

  3. Provide a brief (up to 100 words) biography about the leader(s) of the team that developed this nominated product or service:

    Matthew Hall, Vice President, Business Development, has a wealth of experience
    in wireless and data communications services, in both the US and Europe. Matt
    joined Vesta in 2005 and has led the company in strategy and innovation. At
    Vesta, Matt has chaired ‘Remote Payments’ for the Mobile Payment Forum and
    chairs the Company’s patent committee. Prior to Vesta, he was Director of Mobile
    Strategic Alliances for Lycos Europe, where he developed relationships with
    mobile operators, and content and service providers throughout Europe. Matt also
    served as Vice President for Multitude, a unified messaging company, and
    NetChannel Inc., an AOL company.