SEBASTIAN, Florida,
October 30, 2018 /PRNewswire/ --
Mastercard, Garmin International, Inc.,
and Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc.
(NASDAQ: NXTD), today announced that the Garmin Pay™ contactless
payment feature will be available for Maestro cards issued by major
banks in Europe, including KBC
Bank and Insurance (including CBC and KBC Brussels) in Belgium, Rabobank and ABN AMRO in Netherlands and BNL Gruppo BNP Paribas in
Italy. The contactless payment
feature and digital wallet, which is available on 10 of Garmin's
latest smartwatches, enables consumers to make highly secure
contactless payments at near-field communication-enabled (NFC)
point-of-sale (POS) terminals.
"By adding Maestro, our issuers will be
able to expand this innovative solution to their entire consumer
base, which will result in more connected and digitally native
customers than ever," said Paolo
Battiston, EVP Digital Payments & Labs Europe,
Mastercard.
Garmin
Pay, which launched in November
2017, allows Garmin users to make contactless payments free
from having their phone or wallet present. The payment feature
includes a digital wallet, which is integrated into the Garmin
Connect™ user application. Garmin
Pay is now available on 10 of the company's smartwatches,
including the D2™ Delta S, D2 Delta, D2 Delta PX,
fēnix® 5S Plus, fēnix 5 Plus, fēnix 5X Plus,
Forerunner® 645, Forerunner 645 Music,
vívoactive® 3 and vívoactive 3 Music.
"We are committed to expanding
Garmin Pay support to our customers
around the world, and we are excited to officially offer that
service to Maestro cardholders," said Joe
Schrick, Garmin vice president of fitness. "Now, athletes
and adventurers throughout Europe
can leave their wallet at home when they go to the gym or for a
run, making it easier than ever to just get up and go."
Maestro accountholders from numerous
participating issuing banks throughout Europe, including KBC in Belgium, Rabobank and ABN AMRO in Netherlands and BNL Gruppo BNP Paribas in
Italy, will have the ability to
add their account to Garmin Pay,
enabling them to make "tap and go" payments at any point-of-sale
terminal that accepts contactless payments. Additional issuers on
the Maestro network will be added soon.
A February
2018 study by Mastercard, found that one quarter (24
percent) of Europeans expect to start using "tap and go"
contactless payments with a smartwatch, bracelet, keyring or other
wearable. Between 2018 and 2017, contactless spending on
Mastercard and Maestro grew by 145 percent.
"Adding Maestro is a major step forward
in expanding the global footprint of Garmin
Pay, which is now available in 26 countries and through more
than 200 issuers," said Michael
Orlando, COO of NXT-ID and President of Fit Pay, Inc.
"Mastercard and Garmin have been tremendous partners as we have
begun providing consumers worldwide with more convenient, secure
and seamless ways to pay."
Garmin
Pay is powered by FitPay's Token Requester Management
Platform, which enables cardholders to securely add their payment
credentials to devices that are integrated with FitPay's token
management solution. The platform uses tokenization, a payment
security technology that replaces cardholders' account information
with a unique digital identifier (a "token"), to transact highly
secure contactless payments.
View the complete list of issuing
banks, payment networks and countries supporting Garmin Pay at Garmin.com/garminpay/banks .
About Mastercard
Mastercard (NYSE:
MA), http://www.mastercard.com, is a technology company in the
global payments industry. We operate the world's fastest
payments processing network, connecting consumers, financial
institutions, merchants, governments and businesses in more than
210 countries and territories. Mastercard products and
solutions make everyday commerce activities - such as shopping,
travelling, running a business and managing finances - easier, more
secure and more efficient for everyone. Follow us on
Twitter @MastercardNews, join the discussion on
the Beyond the Transaction
Blog and subscribe for the latest news on
the Engagement Bureau.
About Garmin International Inc.
For decades, Garmin has pioneered new
GPS navigation and wireless devices and applications that are
designed for people who live an active lifestyle. Garmin serves
five primary business markets, including automotive, aviation,
fitness, marine, and outdoor recreation. For more information,
visit Garmin's virtual pressroom at garmin.com/newsroom, contact
the Media Relations department at 913-397-8200, or follow us at
facebook.com/garmin, twitter.com/garmin, instagram.com/garmin, or
youtube.com/garmin.
Garmin International, Inc., is a
subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is
incorporated in Switzerland, and
its principal subsidiaries are located in the United States, Taiwan, and the United Kingdom. Garmin, fēnix, Forerunner and
vívoactive are registered trademarks and Garmin Pay, Garmin Connect and D2 are trademarks
of Garmin Ltd. or its subsidiaries. All other brands, product
names, company names, trademarks and service marks are the
properties of their respective owners. All rights reserved.
Notice on Forward-Looking
Statements for Garmin:
This release includes forward-looking
statements regarding Garmin Ltd. and its business. Such statements
are based on management's current expectations. The
forward-looking events and circumstances discussed in this release
may not occur and actual results could differ materially as a
result of known and unknown risk factors and uncertainties
affecting Garmin, including, but not limited to, the risk factors
listed in the Annual Report on Form 10-K for the year ended
December 31, 2017, filed by Garmin
with the Securities and Exchange Commission (Commission file number
0-31983). A copy of such Form 10-K is available at
http://www.garmin.com/aboutGarmin/invRelations/finReports.html.
No forward-looking statement can be guaranteed.
Forward-looking statements speak only as of the date on which they
are made and Garmin undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
About NXT- ID, Inc. and Fit
Pay, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a
comprehensive platform of technology products and services that
enable the Internet of Things (IoT). With extensive experience in
access control, biometric and behavior-metric identity
verification, security and privacy, encryption and data protection,
payments, miniaturization and sensor technologies, NXT-ID develops
and markets groundbreaking solutions for payment and IoT
applications. Its industry-leading technology products and
solutions include MobileBio®, a suite of biometric solutions that
secure consumers' mobile platforms, the Wocket™, a next-generation
smart wallet and the Flye, a digital credit card developed in
collaboration with WorldVentures.
NXT-ID includes three mobile and
IoT-related subsidiaries: LogicMark, LLC, a manufacturer and
distributor of non-monitored and monitored personal emergency
response systems ("PERS") sold through dealers/distributors and the
United States Department of Veterans Affairs; Fit Pay, Inc., a
proprietary technology platform that delivers end-to-end solutions
to device manufacturers for contactless payment capabilities,
credential management, authentication and other secure services
within the IoT ecosystem, and 3D-ID LLC, which is engaged in
biometric identification and authentication. Learn more about
NXT-ID at http://www.nxt-id.com. FitPay and the FitPay Payment
Platform are the sole property of Fit Pay, Inc. For
Forward-Looking Statements for
NXT-ID: This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Forward-looking statements include
statements herein with respect to the successful execution of the
Company's business strategy. The Company's actual results could
differ materially from those anticipated in these forward-looking
statements as a result of various factors. Such risks and
uncertainties include, among other things, our ability to establish
and maintain the proprietary nature of our technology through the
patent process, as well as our ability to possibly license from
others patents and patent applications necessary to develop
products; the availability of financing; the Company's ability to
implement its long range business plan for various applications of
its technology; the Company's ability to enter into agreements with
any necessary marketing and/or distribution partners; the impact of
competition, the obtaining and maintenance of any necessary
regulatory clearances applicable to applications of the Company's
technology; and management of growth and other risks and
uncertainties that may be detailed from time to time in the
Company's reports filed with the Securities and Exchange
Commission.
NXT-ID Inc. corporate information
contact: info@nxt-id.com
Media contact:
Chris Orlando
chris@fit-pay.com
+1-760-468-7273
SOURCE NXT-ID, Inc.