MELBOURNE, Florida,
December 5, 2017 /PRNewswire/ --
Garmin International, Inc. (NASDAQ: GRMN) and Fit Pay, Inc., a
wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today
announced that the Garmin PayTM contactless payment
feature is now available for eligible Visa credit, debit and
prepaid accounts from many of the network's major participating
issuing banks. The new feature on Garmin's latest smartwatch, the
vívoactive® 3, enables consumers to make highly secure
contactless payments at near-field communication-enabled (NFC)
point-of-sale (POS) terminals, allowing them to tap to pay at
millions of retails locations and contactless-enabled ATMs.
"We're excited to expand the availability of Garmin Pay to Visa
cardholders," said Dan Bartel,
Garmin vice president of worldwide sales. "The ability to make
purchases right from the wrist, without phone or wallet, is an
incredibly valuable feature for our active lifestyle
customers."
The vívoactive 3 with contactless payment feature, Garmin Pay,
is an early product to utilize the Visa Ready for Tokenization
Program, via TSP* program partner FitPay. The Visa Ready for
Tokenization program gives partners access to Visa's broad network
of tools and services to speed up and simplify the process for
embedding secure payments in devices.
Garmin Pay is now available to Visa accountholders from numerous
participating issuing banks including Bank of America, Capital One,
and U.S. Bank in the United
States, and BonusCard, Cornérbank, ANZ and NAB (National
Australia Bank) internationally.
"Just in time for the holidays, Visa accountholders now have a
simpler way to pay on-the-go with the Garmin vívoactive 3. Fitness
trackers always appear on the season's must have lists and this
year, Visa accountholders have another reason to pick up the
smartwatch," said Jason Blackhurst,
senior vice president, innovation and strategic partnerships, Visa.
"We look forward to continuing to add more participating issuing
banks so additional Visa accountholders can experience the benefits
of payments on the Garmin vívoactive 3."
"Consumers want paying for things to be faster, easier and more
convenient," said Michael Orlando,
president of FitPay, Inc. and COO of NXT-ID. "By supporting Garmin
Pay, Visa and its issuing banks are helping to make that happen -
giving consumers access to latest payment technology and enabling
the way they pay to fit more seamlessly into the way they
live."
The FitPay Payment Platform provides the vívoactive 3 with
contactless payment capabilities, and full digital wallet
functionality the Garmin Pay within the Garmin Connect app. It
enables consumers to simply tap and pay at NFC-enabled POS
terminals or ATMs using an existing credit, debit or prepaid card
account.
FitPay's proprietary technology platform uses tokenization, a
payment security technology that replaces cardholders' account
information with a unique digital identifier (a "token"), to
transact highly secure contactless payment and authentication
services. FitPay leverages Embedded Secure Element (eSE) chip
technology within devices to offer a payment solution that is very
power and memory efficient. This frees devices from needing to be
tethered to a host device or connected to the Internet to transact
payments, creating a convenient and completely frictionless payment
experience for consumers.
Garmin Pay was initially launched in November 2017 for Mastercard accountholders from
numerous issuing banks and credit unions. View the complete list of
issuing banks, payment networks and countries supporting Garmin Pay
at Garmin.com/garminpay/banks. Additional networks and card issuers
will be added to Garmin Pay soon.
*Token Service Provider
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 and 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.
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,
2016, 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 www.nxt-id.com. FitPay
and the FitPay Payment Platform are the sole property of Fit Pay,
Inc. For NXT-ID Inc. corporate information contact:
info@nxt-id.com
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:
Garmin International Inc.
Mary Thompson Woodbury
+1-913-397-8200
media.relations@garmin.com
Fit Pay, Inc. and NXT- ID
Chris Orlando
chris@fit-pay.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc. & Garmin International, Inc.