Vantiv, a provider of payment strategies and technology for financial institutions and businesses worldwide, has entered a partnership with US mobile telecommunications network and wireless phone provider Verizon Wireless to conduct a field trial of a new mobile payment service.

The service is based on the Android operating system and features point-of-sale payment functions and business applications using Verizon’s Private Application Store for business. As a result, Vantiv customers are provided with POS apps and remote device management while merchants have access to applications including accounting, payroll, workforce management, loyalty, inventory and customer relationship management.

Vantiv (formerly Fifth Third Processing Solutions) was founded in 1971. Vantiv's product suite includes ATM terminal driving and monitoring, ATM and debit card transaction authorisation and processing, credit issuing and processing services, national and regional gateway services, ancillary services including fraud detection, card production, Rewards! product, and other consultative services.