MELBOURNE, Florida,
August 31, 2017 /PRNewswire/ --
FitPay, Inc., a wholly-owned subsidiary of NXT-ID, Inc. (NASDAQ:
NXTD) and a provider of payment, credential management, and
authentication platform services, today announced that it is
powering the payment capabilities for the vívoactive 3, a new
smartwatch by leading wearables company, Garmin International Inc.
(NASDAQ: GRMN). The new feature, called Garmin Pay[TM],
enables consumers to make contactless payments at near-field
communication-enabled (NFC) point-of-sale (POS) locations, adding a
powerful new feature to one of the most complete smartwatches on
the market for the active consumer.
"Our team is extremely excited to be working with Garmin to
enable Garmin Pay. The inspiration
behind FitPay's drive to enable payments on a whole new generation
of devices came while on a bike ride wearing my Garmin," said
Michael Orlando, president of
FitPay, Inc. and COO of NXT-ID. "The vívoactive 3 with Garmin Pay gives people with active lifestyles
an incredibly easy and convenient way to pay without having to
carry a phone or wallet - something anyone who runs, bikes or just
leads a fast-paced life will love."
The vívoactive 3 was launched by Garmin at the International
Franchise Association's (IFA) Consumer Electronic Unlimited show in
Berlin, Germany on August 31, 2017. The complete sports smartwatch
offers a range of features, including Garmin Pay, a new contactless payment capability
that is powered by the FitPay[TM]
payment platform. The FitPay platform provides the vívoactive 3
with contactless payment capabilities and full digital wallet
functionality within the Garmin application, enabling consumers to
make contactless payments with the smartwatch at NFC-enabled POS
terminals using an existing credit or debit card account. The
vívoactive 3 will be available for purchase at Best Buy or on
BestBuy.com.
"We are incredibly excited to work with FitPay to offer our
customers an easy way to make purchases while on the move," said
Dan Bartel, Garmin vice president of
worldwide sales. "With Garmin Pay, you now have the freedom to
leave your phone and wallet at home without losing your payment
capabilities."
Garmin Pay and the vívoactive 3
are connected to the FitPay Trusted Payment
Manager[TM] platform, which is
integrated with Mastercard (NYSE: MA) through the Mastercard
Digital Enablement Service (MDES) and with Visa (NYSE:V) through
the Visa Ready for Tokenization
program.[1]
"We are thrilled to work with FitPay and see the first product
launch come out of our Visa Ready for Tokenization program, which
was developed to help partners accelerate payment capabilities
across the wearable category," said Jim
McCarthy, executive vice president, innovation and strategic
partnerships, Visa. "Our network of partners, combined with the
right technology solutions, will continue to be fundamental in
driving payment functionality in connected devices and allows us to
continue to welcome new partners into the payment ecosystem."
"Mastercard wants to provide its cardholders the choice and
peace of mind to make more secure digital payments from a variety
of connected devices through a tap, touch, or click," said
Kiki Del Valle, senior vice
president, Commerce for Every Device, Mastercard. "Enabling
payments on innovative, new devices like the Garmin vívoactive
3 gives consumers more choices in how they pay and
provides them the freedom to shop when, where and how they
want."
FitPay's proprietary technology platform delivers payment,
credential management, authentication, and other secure services to
the Internet of Things (IoT) ecosystem. The platform uses NFC
technology to interact with over 10 million retail POS terminals
worldwide, making it possible to pay for goods and services almost
anywhere with a simple tap. FitPay's end-to-end payment solution
allows IoT and wearable device manufacturers to add payment and
authentication capabilities to their products with very little
start-up time, no investment in software development and access to
the leading card networks.
About NXT- ID, Inc. and FitPay, 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; FitPay, 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
FitPay, Inc.
About Garmin International Inc.
The ever-expanding Garmin fitness segment develops technologies
to enhance and promote healthy and active lifestyles. Whether users
are runners, cyclists, swimmers, multi-sport athletes, or simply
looking to stay active throughout the day, there is a Garmin
product that can help them reach their health and fitness goals.
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 units,
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, 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 and vívoactive are
registered trademarks. Garmin Pay is
a trademark 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.
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.
[1] View supported country,
payment network and issuing bank information at
Garmin.com/garminpay/banks
NXT-ID Inc. Contact:
Corporate info: info@nxt-id.com
Media:
Chris Orlando
chris.orlando@nxt-id.com
D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc.