MELBOURNE, Florida,
June 20, 2018 /PRNewswire/ --
Westpac, Australia's oldest
bank and company, and one of four major banking organizations in
Australia and New Zealand, and Fit Pay, Inc., a wholly owned
subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and a provider of
payment, credential management, and authentication platform
services, have today announced an agreement to extend contactless
payment capabilities to a range of new devices, including the
latest smartwatches from Garmin International, Inc. (GRMN). The
Agreement enables Westpac customers to make secure contactless
payments at NFC-enabled point-of-sale locations directly from
Internet of Things (IoT) and wearable devices that are integrated
with the FitPay'sTM Trusted Token ManagerTM
.
Under the agreement, Westpac will participate in FitPay's Token
Requester Program, 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. It allows consumers to
pay at near-field communication-enabled point-of-sale terminals
with a simple tap.
The FitPay Trusted Token Manager provides contactless payment
capabilities and full digital wallet functionality to a variety of
IoT and wearable devices. The Platform powers the Garmin Pay™
capability on several recently launched smartwatches by Garmin.
Garmin Pay is currently enabled on
the vívoactive® 3, the vívoactive 3 Music, the Forerunner® 645, the
Forerunner 645 Music, and the fēnix® 5 Plus series.
"Westpac has a long tradition of using technology to make its
customers lives easier," said Michael
Orlando, COO of NXT-ID and President of Fit Pay, Inc.
"Extending payments to more devices gives Westpac customers greater
flexibility in how they pay and helps fit how they pay more
seamlessly into how they live."
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 www.nxt-id.com. NXT-ID
Inc. Corporate Contact: info@nxt-id.com. FitPay and the FitPay
Payment Platform are trademarks of Fit Pay, Inc.
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.
Media Contacts:
Chris Orlando
chris@fit-pay.com
+1-760-468-7273
D. Van Zant
press@nxt-id.com
+1-800-665-0411
SOURCE NXT-ID, Inc.