Wearables Technologies Magazine posted a recent interview with Fit Pay, Inc. Co-founder and CEO Michael Orlando. You can see the complete interview here.
Fit Pay’s Contactless Payment Platform to Power Plastc All-in-One Card
San Francisco, Calif. – May 18, 2016 – Plastc, Inc., creator of the Plastc Card, the most intelligently-designed and secure digital card ever invented, announced today that they will be teaming up with Fit Pay to enable contactless payments on the Plastc Card. The partnership will give the Plastc Card the capability of transacting NFC payments for the first time through the Fit Pay’s Trusted Payment Manager platform which uses tokenization to enable secure, contactless payment transactions.
“Plastc has always been about making the payment experience more seamless and convenient for consumers, and with contactless payments being a must have for consumers, the Fit Pay partnership was a no brainer for us,” said Ryan Marquis, CEO and founder of Plastc. “With Fit Pay’s platform, our users will now have the ability to simply tap and go.”
Plastc Card, which allows consumers to add all of their payment cards into one beautifully designed device, was built with the hardware to support NFC payments. This new relationship with Fit Pay will provide Plastc with the software platform and payment network relationship needed to offer contactless payments on the Plastc device for the first time. Fit Pay was one of the first IoT-related companies to join the Visa Ready Program, the payment technology company’s program to help embed secure payments in devices, software and solutions. As a participant in the Visa Ready program, Fit Pay will ensure Visa payments in Plastc’s new NFC payment card utilize the Visa Token Service, which replaces sensitive payment account information with a unique digital identifier so that actual account details are not exposed.
“The Fit Pay platform is designed to power a whole new generation of payment devices such as Plastc,” said Michael Orlando, chief executive officer of Fit Pay. “Matching the convenience of having all your cards on Plastc with the ease of contactless payments will be an entirely new user experience.”
Named a Gartner “Cool Vendor” for 2016, Fit Pay’s payment platform uses Near Field Communication (NFC) technology, combined with card network tokenization to interact with point-of-sale terminals at retail locations. NFC, which is available at more than 9 million retail point-of-sale (POS) terminals worldwide, is becoming a ubiquitous payment acceptance technology. Fit Pay’s Trusted Payment ManagerTM platform allows manufactures to seamlessly integrate payment and other contactless authentication capabilities into their product roadmap.
About Fit Pay, Inc.
Based in San Francisco, California, Fit Pay, Inc. is led by former CyberSource and Visa, Inc. executives with more than 20 years of payment platform and identity authentication domain expertise. Fit Pay’s platform provides a frictionless experience allowing consumers to conduct highly secure, contactless payment transactions. www.fit-pay.com
About Plastc, Inc.Plastc (www.plastc.com) is a FinTech company focused on designing innovative products that improve the lives of everyday people.
Plastc Card is the most intelligently designed, full-featured, and secure payment device on the market. In conjunction with the Plastc Wallet app, the Plastc Card can store credit, debit, gift, loyalty and membership cards on a single device. Each Plastc Card is equipped with a secure PIN lock, proximity alerts, and a unique ‘Return Me’ mode, making it more secure than both traditional credit cards and other payment technologies. Find us on Facebook, Twitter, and LinkedIn.
FitPay, a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), 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. With payment capabilities powered by FitPay, IoT device manufacturers can create customer loyalty, tap into recurring revenue streams, open new markets, and differentiate their products in a competitive marketplace.
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