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Garmin® and NXT-ID Subsidiary FitPay Expand Garmin Pay to Visa Accountholders

Contactless Payment Capability Now Supported by Major Card Issuers on the Visa

MELBOURNE, Florida, December 5, 2017 – 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

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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

 

2017 IoT Innovator Awards Finalist

NXT-ID Subsidiary Fit Pay Selected as a Finalist for 2017 IoT Innovator Awards

Industry publication award program honors the best Internet of Things businesses across the globe

MELBOURNE, Florida, October 9, 2017 – Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and provider of payment, credential management, and authentication platform services, has been selected as a finalist for the 2017 IoT Innovator Awards. The awards, which are a program of the technology industry publication IoT Innovator, recognize Internet of Things (IoT) businesses around the world that have made cutting-edge developments in key vertical markets. Fit Pay has been selected as a finalist in the “Best Cloud Platform – Consumer” category. The final winners of the awards will be announced by IoT Innovator on October 16, 2017.

“We are honored Fit Pay has received this recognition by IoT Innovator – a publication with its finger on the pulse of the latest industry developments,” said Gino Pereira, CEO, NXT-ID. “What’s transformative in the IoT market are products that seamlessly integrate technology into peoples’ lives. NXT-ID and Fit Pay are at the forefront of this movement by enabling contactless payments and authentication on a wide range of IoT devices and making the payment experience frictionless for consumers.”

The FitPay Payment PlatformTM is a proprietary technology platform that delivers payment, credential management, authentication and other secure services to the IoT ecosystem. 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 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 and does not need to refresh a token once it is issued. This frees devices from needing to be tethered to a host device or connected to the Internet to transact payments, creating a superior user experience.

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 credit card networks. Manufacturers of 15 IoT and wearable devices are currently integrating with the FitPay payment platform.

A complete list of the companies selected as finalists for the 2017 IoT Innovator Awards and information about the award program, can be found at http://iotinnovator.com.

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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.

 

About IoT Innovator

IoT Innovator is the brainchild of WestWorldWide, LLC, a venerable IT publisher that has been covering the best of IT since 1980. WestWorld’s flagship and IoT Innovator’s sister publication, Computer Technology Review, is one of the most respected editorial authorities in the IT industry.

 

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.

 

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

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Fit Pay Launches Kickstarter Campaign to Support Contactless Payments for Pebble Time Family of Smartwatches

Pagaré for Pebble enables easy and secure payments with a wave of the wrist

San Francisco, Calif. – (February 8, 2016) – Fit Pay, Inc. today launched a Kickstarter crowdfunding campaign to support the final production and market availability of a payment smartstrap the company has developed for the Pebble Time family of smartwatches. The new smartstrap, called PagaréTM, enables Pebble Time, Pebble Time Steel and Pebble Time Round users to make secure, contactless payments at millions of retail locations worldwide.

“PagaréTM adds a compelling new capability to the Pebble Time line up,” said Michael Orlando, co-founder and chief executive officer of Fit Pay. “PagaréTM gives Pebble Time users access to the simplest, fastest and most secure way to pay.”

PagaréTM will use Near Field Communication (NFC) technology, combined with card network tokenization to interact with point-of-sale terminals at retail locations. NFC, in place at an estimated 9 million retail locations worldwide, is becoming a ubiquitous payment acceptance technology at the POS. PagaréTM will leverage Fit Pay’s Trusted Payment ManagerTM platform, which enables contactless payment capabilities on a wide range of wearable devices.

“We expect PagaréTM will really excite our community. It’s a great example of how our open platform allows Pebble to become even more useful in the everyday lives of more people,” said Eric Migicovsky, founder and chief executive officer of Pebble. “Kickstarter is an amazing platform to showcase this innovative smartstrap.”

Pebble made history by becoming the first smartwatch in the market to be funded with the help of Kickstarter backers. Its Kickstarter campaign for the Pebble Time raised more than $20M from nearly 80,000 backers. Pebble users, with either Android™ or iPhone® smartphones, can now add contactless payments by connecting Pagaré to the smart accessory port of the smartwatch.

Fit Pay’s goal was to make Pagaré nearly indistinguishable from a traditional Pebble strap. The company worked directly with Pebble’s suppliers to provide the same materials, colors and finish for the Pebble Time, Pebble Time Steel and Pebble Time Round. The result is a beautiful, high-quality accessory that adds a significant new capability. Hi-Res photos and graphics of Pagaré are available by accessing the media kit.

Pagaré Features

  • Pagaré enables users to make phone-free transactions with the wave of a wrist. It leverages existing point-of-sale contactless technology that is already in use at millions of retail locations worldwide.
  • With bank-level security, Pagaré protects sensitive personal data at all times, even if a Pebble is lost or stolen.
  • Authentication technology allows high value transactions at the point of sale without additional authentication, where available.
  • Pagaré replaces the standard Pebble charging port with a USB connector at the end of the payment strap. No cables required, just plug in Pebble with Pagaré to any USB port to charge the smartwatch and strap.
  • Pagaré works with a consumer’s existing credit and debit cards using a secure, tokenized and Issuer-approved solution.

Pagaré’s Kickstarter page, which launched today, includes an Early Bird tier of only $49, which is $40 below the anticipated retail price of $89. Backers who contribute $199 or more receive a Pagaré and a Pebble Time smartwatch. This enables backers to pledge an amount equal to the MSRP of a Pebble Time and receive both the smartwatch and the Pagaré payment strap as a reward – a very compelling reason to back the project. Fit Pay’s target for the Kickstarter campaign is $120,000. The company anticipates shipping Pagaré in mid-2016.

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. Fit Pay offers an entirely new way for transacting payments using a wearable device. Find Fit Pay and Pagaré on Facebook, Twitter and Instagram.

About Pebble

Based in Redwood City, California, Pebble builds wearable technology that enhances, simplifies, and blends into our lives. Since making crowdfunding history in 2012, Pebble put wearable technology on the map and has sold more than 1 million smartwatches across the globe. In 2015, the company launched Pebble Time, Pebble Time Steel and Pebble Time Round providing smartwatches for every type of user whether they’re busy travelers, fitness enthusiasts, fashionistas or just lovers of cool technology. Pebble smartwatches support both Android™ and iPhone® smartphones and also feature an open platform for developers to make awesome new apps or watchfaces. Learn more at Pebble.com.

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Contact:

Chris Orlando

Orlando & Associates

Chrisorlando@orlando-inc.com

(760) 468-7273

 

Comerica Pic

FitPay Wins the Comerica Bank and RocketSpace 2015 Wearable FinTech Startup Challenge

Company wins $50,000 at live pitch contest in San Francisco

SAN FRANCISCO, Dec. 4, 2015 /PRNewswire/ — Comerica Bank and RocketSpace announced FitPay as the winner of the $50,000 Wearable FinTech Startup Challenge. Three local judges helped decide the grand prize winner from the field of five finalists, which also included UpDownLeftRight, Amitee, Bridgecrest Medical and Ascenden at a live pitch event hosted at RocketSpace’s tech campus, Thursday evening, December 3, 2015.

CMALOGO“We were very impressed with the quality of the presentations at the pitch night event,” said Greg Belanger, President of Comerica’s Tech and Life Sciences Division. “These entrepreneurs are creating technology that has the potential to add tremendous value to people’s lives.”

FitPay’s CEO & Co-Founder Michael Orlando presented at the pitch night event. FitPay’s goal is to bring payment capabilities to wearable devices by removing all of the “heavy lifting” for wearable manufacturers, consumers, credit card issuers and the card networks to enable payments by delivering an all in one solution.

“We are thrilled to have been selected as the winner of the Comerica RocketSpace Wearable FinTech Challenge from among such innovative startups,” said Orlando. “This event demonstrates Comerica’s commitment to innovation and significant support for the startup community. This will be a huge step to bring our payment platform for wearable devices to market.”

The entries were judged on the following criteria: innovativeness, disruption potential, scale potential, readiness for market and revenue potential. Rose Figliano, Senior Manager, Corporate Innovation Services at RocketSpace, Annie Gaus, Tech Reporter at the San Francisco Business Times and Tina Hui, CEO & Founder of Follow the Coin served as judges.

The contest was the result of a partnership between Comerica Bank and RocketSpace to encourage further innovation in FinTech and empower entrepreneurs to fast-track their big idea.

“Startups are the lifeblood of inRocketspacenovation and are bringing new, game-changing products to market at breakneck speed,” said Michele McConomy, VP and GM of Corporate Innovation Services at RocketSpace. “This contest was a celebration of entrepreneurship and addressed the critical foundation that any innovation team – whether you’re a startup or global corporation – must have to transform an idea into a reality.”

About Comerica Bank’s Technology and Life Sciences Division
Comerica Bank’s Technology and Life Sciences Division is one of the nation’s leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, venture backed technology and life sciences companies, as well as their more mature counterparts. The Technology and Life Sciences Division serves all major U.S. technology centers from offices coast-to-coast and its headquarters in Palo Alto, California as well as an office in Toronto, Canada. Comerica Bank is a subsidiary of Comerica Incorporated (CMA), a financial services company that is among the 25 largest U.S. banking companies. For more information, visit www.comerica.com. Visit www.facebook.com/ComericaCares. Follow Comerica on Twitter at @ComericaCares.

About RocketSpace
RocketSpace is a technology campus located in the heart of San Francisco. Since 2011, the company has been helping tech entrepreneurs, startups and corporate innovation professionals bring the future to market. The company offers services to its members including programming, consulting, events, and office-as-a-service, which together create the perfect ecosystem and community for innovation to thrive. Select members and alumni include Uber, Spotify, Practice Fusion, Leap Motion, Domo, Accenture, Schneider Electric, Converse, British Airways, Goodyear, Tata Communications, Royal Bank of Scotland, Pfizer, Samsung, and AT&T. For more information, visit www.rocketspace.com.

Pagare.P.icon-1

Fit Pay and ConnecteDevice Develop Contactless Payment Smartstrap for Pebble

PMS654.Pagare-1San Francisco, Calif. – (November 12, 2015) – Fit Pay, Inc. and ConnecteDevice announced today that they have developed a smartstrap for the Pebble Time family of smartwatches. The new smartstrap, called PagaréTM, enables Pebble Time users to transact secure, contactless payments at millions of retail locations.

“PagaréTM for Pebble is the first execution of our vision to bring secure, frictionless payments to wearable devices,” said Michael Orlando, co-founder and chief executive officer of Fit Pay. “With PagaréTM, Pebble Time users can easily pay without their phone, opening an app or digging for their credit card. We look forward to bringing similar capabilities to millions of fitness tracker and smartwatch wearers through Fit Pay’s extensible platform.”

“We are very pleased to collaborate with Fit Pay on this innovative new smartstrap for Pebble Time,” said Henri-Nicolas Olivier, chief executive officer of ConnecteDevice. “It is a natural extension of our strategy to bring beautiful, cutting-edge, connected products to consumers.”

Pebble announced in March that it would support the development of smartstraps, which are hardware extensions of Pebble Time smartwatches that are designed to augment the devices’ capabilities.

“The PagaréTM contactless payment smartstrap is bringing a game-changing new feature to the Pebble Time family of products,” said Eric Migicovsky, chief executive officer of Pebble. “This is the exact type of robust, new capability that we envisioned the open platform for smartstraps would create for Pebble.”

PagaréTM will use Near Field Communication (NFC) technology combined with card network tokenization to interact with point-of-sale terminals at retail locations. NFC, in place at an estimated 9 million retail locations worldwide, is becoming a ubiquitous payment acceptance technology at POS. PagaréTM will leverage Fit Pay’s Trusted Payment ManagerTM platform, which enables contactless payment capabilities on a wide range of wearable devices.

According to CardNotPresent.com, wearable payments are expected to grow to more than $500 billion by 2020. Fit Pay will launch a Kickstarter campaign in January 2016 to support the production of PagaréTM for Pebble Time and expects the smartstrap to be available in early 2016. Join the interest list at www.pagare.me.

About Fit Pay, Inc.

Based in San Francisco, California, Fit Pay, Inc. is led by payment industry experts with more than 20 years of payment platform and identity authentication domain expertise. Fit Pay’s platform provides a phone-less and app-less experience, allowing consumers to conduct highly secure, frictionless payment transactions. Fit Pay offers an entirely new way for transacting payments using a wearable device.

About ConnecteDevice

ConnecteDevice is a pioneer in the development of ultra-low power connectivity platform for the watch and wearable industry. The company offers a solution with over-the-air update capabilities, that combines its own pre-certified chip, app API’s and a cloud backend. ConnecteDevice addresses banks and telcos needs, for contactless mobile payment wearable solution that allows remote provisioning of a physical secure element. Headquartered in Hong Kong, with European management, the company has offices in Shenzhen, Seattle and San Francisco.

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New technologies to protect online shoppers

FitPay CEO Michael Orlando was interviewed on Fox35 TV at the recent Card Not Present Expo in Orlando, Florida:

(WOFL FOX 35 ORLANDO) -By the end of this year, you’re likely to have a new and improved credit card meant to protect you from fraudsters, but it will not protect you from fraud committed online…

…Mike Orlando, the CEO of a company called Fit Pay, told FOX 35 that biometrics could one day be collected via a wearable fitness tracker and used to authenticate a transaction.

His company has already developed a system that uses devices like a Fit Bit or a Jawbone UP to authenticate transactions without using biometrics.

“We think the authentication with a wearable device can replace those types of standard authentication models and it’ll allow you to do a lot of things on line as well as in person,” Orlando said.

See the full segment here.

VenureBeat

Tim O’Reilly: Silicon Valley is massively underestimating the impact of IoT

VentureBeat’s Chris O’Brien interviewed publisher Tim O’Reilly about the impact of the IoT. There are a number of great insights in the story including this one:

He (O’Reilly) said Uber is also disrupting payments, more so even than much hyped services like Apple Pay. With Apple Pay, you replace one payment device (a credit card) with another payment device (a smartphone or Apple Watch).

“But with Uber, once the service is booked, payment just happens when it’s over — no need for another action by consumers. O’Reilly sees a day when connected gadgets allow for payment systems where stores and machines simply recognize people and conduct a whole transaction automatically.

“What Uber is doing with payments may be more important in the long run than Apple Pay,” O’Reilly said. “Apple Pay re-creates the old workflow, just with a new device. It would be revolutionary to say we don’t need that at all.”

 See O’Brien’s full coverage of the interview here.

emarker

Wearables: The Next Mobile Payment Device?

Wearable Devices Preferred Over Mobile Phones for In-Store Payments

eMarket.com, March 3, 2015

Em GraphMobile payments aren’t a new concept, but most chatter has focused on the usage of mobile phones to purchase items. However, based on December 2014 polling by Stratos, wearables can’t be left out of the conversation. Among US smartphone owners, more than two-thirds said they would prefer to use a wearable device over a mobile phone to make in-store payments.

See more at: eMarketer.com

Paypers Logo

Generation Z customers choose biometrics over passwords

From The Paypers:

According to new research conducted by Opinion Matters on behalf of Visa Europe, 76% of 16 to 24 year old consumers in the UK would feel comfortable using various biometric security measures, such as facial recognition, fingerprints and retina scans, to make payments in place of traditional authentication methods like passwords. Another 69% of people polled in this age group also believe biometric payments will make their lives faster and easier.

Full Article