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Investorideas Featured Company: NXT-ID Inc. (NASDAQ:NXTD; NXTDW)

NXT- ID Inc. - Mobile Security for a Mobile World

NXT-ID (NASDAQ:NXTD) is a security technology Company providing security for finance, assets and healthcare. The Company's innovative MobileBio® solution mitigates risks associated with mobile computing, m-commerce and smart OS-enabled devices. With extensive experience in biometric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, the Company partners with industry leading companies to provide solutions for modern payment and the Internet of Things ("IoT") applications. The Company's wholly owned subsidiary, LogicMark, LLC, manufactures and distributes nonmonitored and monitored personal emergency response systems ("PERS") sold through the United States Department of Veterans Affairs ("VA"), healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors.

Contact
NXT-ID, Inc. (NASDAQ:NXTD)
NXT-ID, Inc. (NASDAQ:NXTD)
NXT-ID, Inc. (NASDAQ:NXTD)
 

Corporate info: info@nxt-id.com
Investors: investors@nxt-id.com

Media:
D. Van Zant
800 665-0411
press@nxt-id.com

About NXT-ID, 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.

About FitPay


FitPay is a proprietary technology platform that adds contactless payment capabilities to wearable and IoT devices—with very little start-up time, no investment in software development and instant access to the leading card networks. FitPay integrates into your wearable and IoT devices, so your customers can use them to buy from more than 10 million merchants worldwide.

WorldVentures flye smart card created by NXT-ID, Inc.

NXT-ID, Inc. (NASDAQ:NXTD)

Nxt-ID, Inc. (NASDAQ: NXTD) & WorldVentures Demo flye Smart Card

https://www.youtube.com/watch?v=hF8kLkLJD8I



Mike Remedios, CTO of WorldVentures Talks about the flye smart card

https://www.youtube.com/watch?v=VRQjwfoZq-I



The smart card, customized exclusively for WorldVentures' DreamTrips Members, currently numbered at more than 500,000 worldwide and growing, is intended to allow Members to:

  • Load up to 10 records (credit cards, loyalty cards, identity cards, and other data); additional records may be stored on WorldVentures' DreamTrips mobile app and interchanged with the records on flye smart card at the election of a Member
  • Use as a payment method in the same way as a credit card, where accepted
  • Earn points at select restaurants worldwide that can be used towards DreamTrips vacations
  • Engage and interact socially with other DreamTrips Members worldwide through its communication features

About WorldVentures

WorldVentures Marketing, LLC, a privately held company based in Plano, Tex., sells travel club memberships providing a diverse set of lifestyle products and experiences. The company's goal is to help Independent Representatives, DreamTrips™ Members and employees achieve more fun, freedom and fulfillment in their lives. WorldVentures uses the direct sales model to go to market with active Representatives and Members in 29 countries. For more information, visit www.worldventures.com.

About DreamTrips

DreamTrips is a travel club community where Members experience customized travel opportunities and valuable deals at selected restaurants, hotels, excursions and entertainment venues in destinations all over the world. The DreamTrips membership appeals to the unique mindset of the traveler who experiences the world through the DreamTrips community, with the idea that "the best way to experience the world is together." For more information, visit www.dreamtrips.com.

LogicMark

July 26, 2016 - NXT-ID, Inc. completes its acquisition of LogicMark, LLC ("LogicMark"), a leading provider of unmonitored personal emergency response devices (PERS).

Founded in 2006, LogicMark has revolutionized the personal emergency response system (PERS) industry by incorporating patented two-way voice communication technology directly in the medical alert pendant. With a focus on innovation, LogicMark provides a unique offering of medical alert systems that contribute to improving the quality of life for those choosing to continue to live independently. https://www.logicmark.com/

Monitored Solutions

Enjoy the peace of mind that comes with a professional monitoring center standing by 24/7.

For some, peace of mind and independence means having a trained professional standing by 24 hours a day. Emergency calls placed with these products are answered by a monitoring center that has all the important information about your medical needs and how to best get you help. Depending on the situation, the operators can dispatch 911 to your location and/or notify your friends, family or caregivers.


CaretakerSentry

THE COMPLETE PACKAGE IN PERS

The CaretakerSentry provides a complete platform for dealers to offer their customers. The standard CaretakerSentry kit comes with a waterproof pendant that is fully supervised and has a 5 year battery.

The CaretakerSentry is also now available with two-way voice built directly into the pendant!

Additional accessories include the emergency wall communicator which protects the home's most vulnerable locations (also features two-way voice communication with the central station.)

The unit will communicate with the central station via POTS, VoIP and an optional cellular accessory for those customers that don't have a landline.

The most flexible monitored solution.

NXT-ID, Inc. (NASDAQ:NXTD)

SentryPal

Connected to Care - Everywhere

The SentryPal is for the user on the go. Coverage is nationwide. Communicate directly through the two-way voice, water-resistant pendant. The pendant is small and lightweight.

The SentryPal is excellent for individuals that are aging in place, mobile health, tele-health, lone worker protection, child safety & protection, first responders, law enforcement and many others.

The cellular solution that goes anywhere you do!

NXT-ID, Inc. (NASDAQ:NXTD)

Life Sentry

The original professionally monitored two-way voice medical alert system

LifeSentry offers the ability to summon assistance at any time with the touch of a button. LifeSentry utilizes patented two-way voice communication right through the pendant for coverage in and around the home. The base station plugs into any standard telephone jack and can be programmed to contact any central station through Contact ID or 4 + 2 format.

The LifeSentry is ideal for dealers looking to increase their recurring monthly revenue. Simply program a primary and secondary number for the central station of your choice. The user will be able to communicate with the trained professional right through the pendant upon activation.

NXT-ID, Inc. (NASDAQ:NXTD)

Products

MobileBio™ wocket™

Featured Mobile Security Company on Investorideas.com - NXT-ID, Inc. (NASDAQ:NXTD)

The world of wallets is about to change. New exciting technologies are making payments easier than ever. However, many credit card holders either do not possess a smartphone or will be reluctant to use their smartphone for mobile payments due to a variety of reasons including:

Limited battery life
Dependency on wireless network coverage
Well publicized security threats

Rather than depend on a potentially unreliable cell phone, NXT-ID introduces a truly next generation digital wallet: the wocket™. This unique technology takes a very different approach: Instead of replacing the wallet, we are improving it! Our innovative wocket™ reduces the number of cards in your wallet while supporting virtually every payment method currently available at Point-of-Sale (POS) at retailers around the world including magnetic stripe, EMV/NFC and barcode...all within a secure vault within your wallet.

Now you can use the wallet you know and love, but with the wocket™ advanced secure electronic wallet technology from NXT-ID.

MobileBio™ biocloud™

Featured Mobile Security Company on Investorideas.com - NXT-ID, Inc. (NASDAQ:NXTD)

MobileBio™ biocloud™ is a cloud-based identity authentication solution for consumer applications and corporate security. MobileBio™ biocloud™ Authentication and Identity Management Services provide biometric authentication, identity management, and secure remote access to a number of standard operations such as online banking and mobile payments. This secure service alleviates financial institutions and corporations from billions invested in enterprise security management by providing essential end-to-end security to sensitive consumer information that is more easily accessible now, due to the increased use of mobile devices to remotely access corporate data and perform financial transactions from mobile devices.

With NXT-ID's biocloud™, users and corporations can now be assured secure access to their sensitive data through simple, effective identity authentication and secure encryption.

MobileBio™ facematch™

Featured Mobile Security Company on Investorideas.com - NXT-ID, Inc. (NASDAQ:NXTD)

MobileBio™ facematch™ is a modular facial recognition platform technology that can be applied to a variety of platforms including smartphones, tablets, laptops and desktop computers. Depending on the number of cameras available and level of security desired, facematch™ will use 2D, pseudo 3D or 3D facial recognition algorithms to allow the user access to their device, data, or door. facematch™ supports both 3D and 2D camera devices, supporting various applications such as adding access control to a door or prison to adding superior authentication and/or encryption to a mobile device. The technology can be hosted on the device or configured to access cloud computing for remote authentication via NXT-ID's biocloud™ Authentication and Identity Management Services. The technology will also soon be available as an "app" on the iPhone and Android platforms.

One of the major areas of concern with facial recognition is user privacy with most companies utilizing private data for other marketing purposes. A facematch™ based facial recognition system can be customized to retain no personal information on the user as required to address any privacy issues.

Now banks, consumers, prisons, enterprises and virtually any computing platform can be secured passively, without obtrusive biometric devices such as fingerprint readers using innovative facematch™ from NXT-ID. Contact us to learn more how facematch™ can be customized to meet your security needs.

MobileBio™ voicematch™

Featured Mobile Security Company on Investorideas.com - NXT-ID, Inc. (NASDAQ:NXTD)

MobileBio™ voicematch™ is a modular voice recognition platform technology that can be applied to a variety of platforms including smartphones, tablets, laptops and desktop computers. voicematch™ can be added to virtually any device to embed superior security via voice recognition biometrics that ensure the identify of the user prior to allowing access.

For individuals that use a variety of secure devices where the identification of the specific individual is important, the MobileBio™ voicematch™ biosensor can communicate with the intended device directly or remotely. The voicematch™ biosensor is the world's first "web enabled" biometric device that can connect physically or wirelessly. Verification can be performed locally or through cloud based identity management and information biocloud™ assurance services. This device will also help to secure one aspect of "BYOD" (Bring your own device) computing, which is a growing concern among corporations where individuals are using their personal smartphones, tablets and computers to connect to their company's IT servers. Connection to devices using this web-ready biosensor may be made through USB or by wireless interface.

voicematch™ can also be customized for a number of other applications including remote collection and transmission of biometric data by the Department of Justice and the Department of Defense. Other applications include simple, passive authentication local to devices so users may add security to various mobile platforms such as smarphones, laptops and digital wallets.

Contact us for a quote and to to learn how voicematch™ can be applied to your application today.

NOTE: All biosensor based products follow National Institute of Standards and Technology's (NIST) Special Publication 500-288 Specification for Web Service-Biometric Devices (WS-BD).

3D-ID Facial Recognition (subsidiary)

Featured Mobile Security Company on Investorideas.com - NXT-ID, Inc. (NASDAQ:NXTD)

In June 2012 Nxt-ID acquired 3D-ID, LLC ("3D-ID"), a company engaged in the design, research and development, integration, analysis, modeling, system networking, sales and support of intelligent surveillance, three dimensional facial recognition and three dimensional imaging devices and systems primarily for identification and access control in the security industries.

3D-ID provides visual solutions to effectively solve issues that cannot be addressed in a conventional Two-dimensional format.

Imagine seeing your face in an interactive video game? When someone chases you on screen, this would be a lot more personal, wouldn't it? 3D-ID is working to partner with entertainment and gaming companies who have the vision of a personal, interactive experience. Movies, games, and amusement rides are growing in realism every day, but one thing missing is a highly detailed character that looks just like the viewer.

The need for Homeland and commercial security has increased dramatically over the last decade. Places of business, hospitals, prisons and other areas receive thousands of visitors each day. 3D-ID provides Access Control through biometric facial analysis and provides confidence that only authorized personnel are admitted.

The modern warfighter needs tools that give tactical superiority in order to carry out difficult missions unharmed. Any piece of equipment that can give better awareness and vision of their surroundings is extremely valuable. In the urban battlefield where threats are closer and more unpredictable, 3D-ID peripheral and rear vision solutions are especially valuable.

The members of 3D-ID and their partners have spent many years developing three-dimensional solutions.


3D FaceMatch from NXT-ID on Vimeo

About Fit Pay, Inc.

A wholly owned subsidiary of Nxt-ID, Inc, Fit Pay, Inc. is led by former CyberSource and Visa executives with more than 50 years of payment and identity authentication domain expertise. With payment capabilities enabled by Fit Pay, wearable and IoT device manufacturers can create customer loyalty, tap into recurring revenue streams, open new markets, and differentiate their products in an increasingly competitive market. Learn more at www.fit-pay.com, or on Twitter.

Management

Gino M. Pereira

President & Chief Executive Officer

From the date of inception of the Company, Mr. Pereira, one of our co-founders, has served as the Chief Executive Officer and Director. Mr. Pereira has over 30 years of executive, operational and financial experience with technology companies in the United States, Europe and the Far East. He has also helped to develop several technology start-ups as well as served in an executive capacity in a large multinational public company.

Mr. Pereira was Chief Financial Officer and later Chief Executive Officer of Technest Holdings Inc., a publicly quoted defense contracting company, from 2004 to 2011. Technest Holdings operated subsidiaries EOIR Technologies, Inc. and Genex Technologies, Inc. Mr. Pereira is a Fellow of the Chartered Association of Certified Accountants (UK) and has an MBA, with a specialty in finance, from the Manchester Business School in England.

Mr. Pereira brings to the Board significant expertise in the biometric and software recognition industries, as well as experience in international business technology and extensive management and operating experience. Having founded and/or operated companies in similar or related industries during the past 15 years, provides the board with unparalleled knowledge of the Company and its operations and an understanding of the markets the Company plans to operate in.

Vincent S. Miceli

Vice President & Chief Financial Officer

Mr. Miceli, age 56, has extensive hands on experience in financial and operational management and business leadership in both substantial private and public companies. He is also experienced with working with public company Boards of Directors, as well as financial institutions. Mr. Miceli was the Vice-President and Chief Financial Officer/Treasurer of Panolam Industries International, Inc., a company which primarily designs, manufactures and distributes decorative and industrial laminates, from May 2006 to mid-December 2013. Prior to that, Mr. Miceli was the Chief Financial Officer and Corporate Controller of Opticare Health Systems, Inc., a public company which provides integrated eye care services, from 2004 to 2006. Prior to 2004, Mr. Miceli held senior accounting positions at Amphenol Corporation and United Technologies, Inc. Mr. Miceli holds a BS in accounting from Quinnipiac College, an MBA, with a concentration in Finance, from the University of Hartfordand he is an affiliate member of both the AICPA and the CT Society of Certified Public Accountants.

David Tunnell

Executive Vice President & Chief Technology Officer

David Tunnell is an expert in biometrics, secure communications, and wearable technologies. Mr. Tunnell's experience spans computer security (COMSEC), signal intelligence (SIGINT), communications intelligence (COMINT), and image intelligence (IMINT), with over 29 years of experience in building technologies and companies.

Mr. Tunnell's accomplishments include the Technology of the Year award from Frost & Sullivan for biometrics in 2006 and inventor of a Top Ten Invention for the US Army in 2004. Mr. Tunnell has pioneered a number of technologies including remote distributed sensing and processing, 3D facial recognition and imaging, 3D fingerprint, voice recognition, dynamic biometric-enabled authentication and encryption key generation, and miniature, low-power wearable technologies.

Mr. Tunnell brings a wealth of product development and marketing experience to NXT-ID, Inc. He was the divisional director of 3D identification products at Technest Holdings Inc. from 2003 to 2012. Prior to Technest, he served as an adjunct faculty teaching various advanced technology courses at the National Cryptologic School while working with various intelligence agencies and later at L3 Communications where he served as Director of Engineering for a subsidiary. He has also served as the Principle Investigator for numerous research programs with the United States Department of Defense (DoD). Mr. Tunnell holds a Masters in Technical Management (MSTM) from Johns Hopkins University and a BSEE from the University of Tennessee.

Michael Orlando

Chief Operating Officer for NXT-ID and President of Fit Pay, Inc.

With more than 20 years of payment services and technology business execution experience, Orlando has served in leadership positions in several successful companies, including Cybersource, where he oversaw all enterprise sales and professional services functions worldwide, driving revenue growth to more than $340 Million and establishing new international offices in Singapore, China, Brazil, Australia, and Dubai. Orlando played a primary role in the $2 Billion acquisition of Cybersource by Visa, Inc. and helped lead the post-acquisition integration. He remained at Visa in an executive role until 2012. In 2014, Orlando co-founded Fit Pay, Inc. with a vision to build a comprehensive payment and secure authentication platform for the IoT and wearable devices. NXT-ID completed a business combination with Fit Pay in May 2017.

Board of Directors

Stanley Washington

Director

Mr. Washington is recognized as a key business leader in the financial services industry with over 25 years' experience. Currently, as Founder and Chief Executive Officer of Pantheon Business Consulting (PBC) he manages a strategic business development firm which focuses on partnering fast growing small & mid-sized companies in emerging categories with large strategic partners; providing senior leadership teams with innovative thought leadership concepts aimed at increased revenue generation, consumer program activation and diverse strategic supplier partnership development for the building of long-term shareholder growth and profitability.

Prior to PBC Stan spent 17 years as an executive at American Express and was Regional Vice President and General Manager of the Western United States operating as the region's senior business leader where he managed American Express' U.S. Commercial Card Division overseeing the Account Development Organization including sales and operational support across multiple industries, to more than 260 U.S. based companies, representing over $300 billion in annual corporate revenue.

During his career at American Express he held numerous positions within the company including Regional Vice President and General Manager of the American Express Establishment Services Division where he was responsible for over $50 billion in annual charge volume, managing all merchant account relationships, card member marketing, sponsorships and advertising to more than one million American Express merchant business locations throughout the Western States and Micronesia.

Gino M. Pereira

President & Chief Executive Officer

From the date of inception of the Company, Mr. Pereira, one of our co-founders, has served as the Chief Executive Officer and Director. Mr. Pereira has over 30 years of executive, operational and financial experience with technology companies in the United States, Europe and the Far East. He has also helped to develop several technology start-ups as well as served in an executive capacity in a large multinational public company.

Mr. Pereira was Chief Financial Officer and later Chief Executive Officer of Technest Holdings Inc., a publicly quoted defense contracting company, from 2004 to 2011. Technest Holdings operated subsidiaries EOIR Technologies, Inc. and Genex Technologies, Inc. Mr. Pereira is a Fellow of the Chartered Association of Certified Accountants (UK) and has an MBA, with a specialty in finance, from the Manchester Business School in England.

Mr. Pereira brings to the Board significant expertise in the biometric and software recognition industries, as well as experience in international business technology and extensive management and operating experience. Having founded and/or operated companies in similar or related industries during the past 15 years, provides the board with unparalleled knowledge of the Company and its operations and an understanding of the markets the Company plans to operate in.

Michael Orlando

Chief Operating Officer for NXT-ID and President of Fit Pay, Inc.

With more than 20 years of payment services and technology business execution experience, Orlando has served in leadership positions in several successful companies, including Cybersource, where he oversaw all enterprise sales and professional services functions worldwide, driving revenue growth to more than $340 Million and establishing new international offices in Singapore, China, Brazil, Australia, and Dubai. Orlando played a primary role in the $2 Billion acquisition of Cybersource by Visa, Inc. and helped lead the post-acquisition integration. He remained at Visa in an executive role until 2012. In 2014, Orlando co-founded Fit Pay, Inc. with a vision to build a comprehensive payment and secure authentication platform for the IoT and wearable devices. NXT-ID completed a business combination with Fit Pay in May 2017.

Major General David R. Gust, USA, Ret

Director

General Gust presently does consulting work for his own company, David R. Gust & Associates, LLC. Between April 2007 and May 2009, General Gust was the President of USfalcon, a privately-held company working with the U.S. Defense sector, primarily in information technology. Previously, General Gust had served as the Manager for Federal Telecommunications for Bechtel National, Inc. from November 2004 to March 2007. Prior to that, he was the President and Chief Executive Officer of Technical and Management Services Corporation from 2000 to 2004. General Gust retired from the United States Army in 2000 after completing a career of 34 years of service. General Officer assignments included the Program Executive Officer, Communications Systems (PEO-Comm Systems), Program Executive Officer, Intelligence, Electronic Warfare and Sensors (PEO-IEW&S) and at Army Materiel Command, as Deputy Chief of Staff for Research, Development and Acquisition (DCSRDA).

Michael J. D'Almada-Remedios, PhD

Director

Dr. Remedios is Chief Technology Officer of WorldVentures Holdings. Between January 2011 and September 2013 Dr. Remedios was Chief Information Officer for Arbonne International, a billion dollar global cosmetics company. From February 2009 to December 2010 he was a Vice-President at Expedia, Inc. and was responsible for all technologies, product development and technical operations for hotels.com. Prior to February 2009 Dr. Remedios was Chief Technology Officer for Realtor.com and Shopping.com, a subsidiary of eBay, Inc. At eBay he was a member of the eBay Inc. Technology Board for eBay, PayPal and Skype. Dr. Remedios was also CTO at software company, Swarm-Mobile. He has a PhD. In Computer Control and Fluid Dynamics from the University of Nottingham in England and a B.Sc. in Physics and Computer Science from Kings College, University of London in England.

Daniel Sharkey

Director

Dan Sharkey was Executive Vice President of Business Development of ATMI, a publicly traded semi conductor company from 2007 to 2014, and was responsible for expanding ATMI markets and long-term growth potential by identifying and delivering new strategic and product opportunities. Mr. Sharkey joined ATMI as Chief Financial Officer in April 1990 and continued in that position with the additional responsibilities as Treasurer and Secretary until 2007. ATMI was sold to Entegris in 2014 for $1.15 billion.

Before joining ATMI, Mr. Sharkey was Vice President of Finance for Adage, Inc., a publicly traded computer graphics manufacturer, from 1987-1990. From 1983-1987, he was Corporate Controller for CGX Corporation a venture capital-backed, privately held computer graphics manufacturer that merged with Adage, Inc. in 1987. From 1978 to 1983, Mr. Sharkey worked as a Certified Public Accountant in the Boston office of KPMG Peat Marwick.

Mr. Sharkey earned a Bachelor of Arts degree in Economics and Accounting from the College of the Holy Cross in Worcester, Massachusetts.

Videos


Whole Foods & Taxi Paying
with the Wocket Smart Wallet
 

Using the Wocket Smart Wallet at ATM
 
 

NXT-ID (NASDAQ: NXTD) at the Investorideas.com Security Conference March 11th Conference in New York

See Company Forward Looking Statement in Powerpoint

 

Research Coverage

News for NXT-ID Inc.

More News - News Archive

Media Coverage

  • Media coverage for August 31 ,2017 news: NXT-ID (NASDAQ: NXTD) Subsidiary FitPay to Power Garmin PayTM on Garmin® vívoactive® 3 Smartwatch
  • The Verge - "Garmin is rolling out a payments feature with its newest fitness tracking watch"

    "Garmin Pay is actually enabled by FitPay, a wholly owned subsidiary of smart wallet company NXT-ID, so it's running on top of FitPay's platform rather than being built entirely from the ground up."

    "Garmin declined to say what other devices Garmin Pay might pop up on, but hinted strongly that it will be coming to other products. "We don't have any other devices we're announcing at this time," McClendon said, "but when we come out with a new technology, when appropriate, we introduce it to other products."

  • TechCrunch - "Garmin debuts three new wearables and a mobile payment solution"

    "Garmin Pay is powered by FitPay, which is a platform designed specifically to help bring mobile payments to mobile and IoT devices, without requiring direct, separate negotiations with the banks and issuers."

  • ARS Technica - "Garmin launches new Vivoactive 3 smartwatch with Garmin Pay"

    "The company's new Garmin Pay is powered by FitPay, a third-party developer of contactless payment systems for wearable and IoT devices. Rather than building a new payment system from scratch like Fitbit did (although it did have help from its acquisition of Coin), Garmin simply integrated FitPay's system into its new device under a brand-specific name."

  • Mobile Payments Today - Another smartwatch, another 'Pay' as Garmin Pay debuts

    "Garmin has partnered with FitPay to enable vivoactive 3 to add payment credentials to the smartwatch to make NFC payments at compatible point-of-sale terminals.

    "Our team is extremely excited to be working with Garmin to enable Garmin Pay," said Michael Orlando, president of FitPay, said in the release. "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."

    "FitPay is a wholly-owned subsidiary of NXT-ID Inc., a provider of payment, credential management, and authentication platform services."

  • PYMNTS - Visa Powering Payments on New Garmin Wearable Aims to Stop ‘Sweaty Money'

    "In a release Thursday, the company said the device is the first wearable from Garmin that features Garmin Pay. Garmin Pay, in turn, is an early entrant as an NFC-based product that leverages the Visa Ready for Tokenization program (and Visa's own tokenization program), and uses Fit Pay as token service provider.

    "In a statement, Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa, said "the idea of wearing your wallet on your wrist is not only desired by consumers, but with Visa and Garmin it will be both convenient and secure. Partners like Fit Pay Inc. are helping us accelerate the growth of IoT by bringing payment-based features to market on devices like Garmin's - with greater ease and speed-to-market." The company said in the same release that Visa account holders will be able to initiate payments upon Garmin Pay's wider availability."

  • Warable - Garmin Vivoactive 3 unveiled with new look and Garmin Pay

    "There's also NFC on board and that unlocks the biggest new feature; Garmin Pay. Thanks to FitPay integration, you can use the Vivoactive 3 to make contactless payments. It will support Visa and MasterCard debit and credit cards letting you add cards to your Garmin Pay wallet."

  • Bank Innovation - First FitBit, Now Garmin Releases Smartwatch with Payments

    "The new feature, called Garmin Pay, is powered by payment technology and authentication platform provider, Fit Pay..."

    "In fact, FitPay, which is providing Garmin with the payment technology platform, is currently working with 15 OEMs to add payments to their products, Bank Innovation learned. More recently, along with MasterCard it is providing its services to Wearatec, another smartwatch."

More News - News Archive

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