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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

 

Money2020 Logo

NXT-ID and FitPay to Exhibit at Money20/20, 2017

MELBOURNE, Florida, October 17, 2017 /PRNewswire/ — NXT-ID, Inc. (NASDAQ: NXTD ), a provider of payment, credential management, and authentication platform services, announces it will be exhibiting at the 2017 Money20/20 event taking place October 22 – 25, 2017 in Las Vegas, NV. The annual event, which brings together more than 11,000 financial services and payment industry executives, will provide an opportunity for NXT-ID to highlight its security, payment, authentication and credential management solutions.

NXT-ID and its subsidiary FitPay, Inc. will be featured in Booth 1247 on the exhibition floor at the conference. The booth will include live demonstrations of the company’s payment technology, including the Garmin(R) vívoactive(R) 3 smartwatch with Garmin PayTM powered by FitPayTM. FitPay recently announced that it is working with Garmin International Inc. (NASDAQ: GRMN) to add payment capabilities to the vívoactive(R) 3, enabling it to transact contactless payments at near-field communication-enabled point-of-sale locations through the Garmin PayTM feature.

In addition to its participation in the exhibition, NXT-ID and FitPay executives will be meeting with banking and payment industry leaders, service providers and members of the media from throughout the payment and financial services ecosystem.

Money20/20 is the world’s largest marketplace for ideas, connections and deals in payments and financial services. It brings together leaders representing every sector of the industry to seize new business opportunities, strengthen partnerships and discover the latest disruptions.

With more than 11,000 attendees, including more than 1,700 CEOs and presidents, from 4,500 companies and 85 countries, expected at the 2017 U.S. event, Money20/20 brings together the who’s who of an industry that’s revolutionizing the future of money.

More information about the 2017 Money20/20 event and NXT- ID’s Money20/20 company profile can be found at: https://us.money2020.com/companies/nxt-id

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(R), a suite of biometric solutions that secure consumers’ mobile platforms, the Wocket(TM), 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; FitPay, 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 http://www.nxt-id.com . FitPay and the FitPay Payment Platform are the sole property of FitPay, Inc. For NXT-ID Inc. corporate information contact: info@nxt-id.com

About Garmin

Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are 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.

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.
Contact:
NXT-ID Inc.
Corporate info: info@nxt-id.com

Media Contacts:

NXT-ID and FitPay
Chris Orlando
+1-760-468-7273
chris.orlando@nxt-id.com

D. Van Zant
+1-800-665-0411
press@nxt-id.com

 

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Bank of America and NXT-ID Subsidiary Fit Pay Collaborate to Accelerate Wearable and IoT Payment Adoption

Agreement will enable Bank of America customers to use their debit or credit cards with a range of new devices

MELBOURNE, Florida, September 7, 2017 – Bank of America (NYSE: BAC) and Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced an agreement to extend contactless payment capabilities to a range of new devices, giving Bank of America customers more payment options and accelerating the adoption of new payment devices. This collaborative effort enables Bank of America customers to use their credit or debit cards to make secure contactless payments directly from devices that are integrated with the FitPayTM payment platform at NFC-enabled point-of-sale locations and more than 9,000 Bank of America ATMs.

“As digital payments evolve, our goal is to give Bank of America customers access to payment options that are easy to use and highly secure,” said Mark Monaco, head of Enterprise Payments at Bank of America. “Working with FitPay will allow our customers to use a range of new contactless payment devices to improve the payment experience, provide a high level of security, and fit seamlessly into any lifestyle.”

Under the agreement, Bank of America will participate in FitPay’s Digital Wallet Program, which enables manufacturers of Internet of Things (IoT) and wearable devices to add contactless payment capabilities to their product, making it possible for consumers to pay for goods and services at near-field communication-enabled (NFC) point-of-sale terminals with a simple tap. 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.

“We are very pleased to be working with Bank of America to give their customers access to the latest payment technology,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Broad adoption of digital payments requires fundamentally changing the payment experience and making new payments methods widely available. Our work with device manufacturers and Bank of America is driving both of these goals.”

Manufacturers of 15 IoT and wearable devices are currently integrating with the FitPay payment platform. Bank of America and FitPay are working together to enable Bank of America customers to use their credit or debit cards to make contactless payments or use NFC-enabled Bank of America ATMs with these devices. This collaboration includes ensuring that the devices meet Bank of America’s technical, usage, security, branding, and consumer experience requirements. Product announcements from the manufacturers of these devices are anticipated in 2017 and 2018.

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Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 34 million active users, including 23 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Visit the Bank of America newsroom for more Bank of America news, and click here to register for news email alerts.

 

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:

Bank of America

Betty Riess

1.415.913.4416

 

Fit Pay, Inc. and NXT-ID

Chris Orlando

chris@fit-pay.com

1.760.468.7273

 

D. Van Zant

press@nxt-id.com

1.800.665.0411

FitPay_Mastercard_Template

NXT-ID Subsidiary Fit Pay to Offer Consumers the Ease and Security of Prepaid, Tap-and-Go Payments with FitPay Prepaid MasterCard®

MELBOURNE, Florida, July 11, 2017 /PRNewswire/ —

Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and a provider of payment, credential management, and authentication platform services today announced that it would offer prepaid capabilities on wearable devices connected to the Fit Pay Payment Platform. The general purpose reloadable (GPR) program, ‘The FitPay Prepaid MasterCard®, will give consumers with Fit Pay’s contactless payment-enabled devices the convenience of storing funds directly on their device. The new feature provides consumers with the ease and security of contactless payments.

“Adding reloadable prepaid capabilities is a new feature for devices on our platform and makes our payment enablement services available on a wider range of form factors,” said Michael Orlando, President of Fit Pay, Inc. and COO of NXT-ID.

The FitPay Prepaid MasterCard® option will be available to device OEMs that integrate their products with the Fit Pay platform. The new feature allows consumers to load their Fit Pay-enabled Internet of Things (IoT) or wearable device with a prepaid value for contactless purchases. A digital wallet allows the user to re-load the account, set top-off thresholds and manage the account settings.

“Prepaid accounts give consumers more flexibility in how they make contactless payments,” added Orlando. “This is particularly appealing to millennials who are more likely to use a prepaid account, more likely to own a wearable and more likely to make a contactless payment.”

The FitPay Prepaid MasterCard® is sponsored by Sunrise Banks, N.A.  Cascade Financial Technology Corp. serves as the program manager. The device can be used everywhere that Debit MasterCard® is accepted.

“Prepaid is a natural fit for enabling payments within the IoT ecosystem. It meets consumers’ needs for security and control as their payment credentials are linked to a wider set of devices. The flexible nature of the prepaid platform enables many innovative use cases with both traditional and non-traditional players, and our work with Fit Pay is a great example,” said Solana Cozzo, North America Vice President of Prepaid and Inclusive Growth for MasterCard®.

Fit Pay’s proprietary technology platform delivers payment, credential management, authentication and other secure services to the IoT ecosystem. The platform uses Near Field Communication (NFC) technology to interact with over 10 million retail point-of-sale (POS) terminals worldwide, making it possible to pay for goods and services almost anywhere with a simple tap. Fit Pay’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 instant access to the leading card networks.

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 http://www.nxt-id.com

About Sunrise Banks

Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and underserved people thrive by empowering them to achieve their aspirations. Sunrise is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation earned by approximately 100 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit Sunrise Banks at SunriseBanks.com, on Twitter @SunriseBanks or on Facebook. Sunrise Banks is Member FDIC.

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.

The FitPay Prepaid MasterCard® is issued by SUNRISE BANKS N.A., Member FDIC, pursuant to a license from MasterCard International Incorporated.  MasterCard® is a registered trade mark of MasterCard International Incorporated.

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

SOURCE NXT-ID, Inc.

token_logo_black

NXT-ID Subsidiary Fit Pay to Power Payments on Token

Biometric Identity Ring Allows Anyone to Live Keyless, Cardless, and Free of Passwords

MELBOURNE, Florida, June 28, 2017 – Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and a provider of payment, credential management, and authentication platform services, today announced that is providing payment capabilities for, Token, a biometric identity ring that streamlines the process of authentication throughout your day. Token is available for presale now at www.tokenize.com beginning at $249, and will begin shipping to users in December 2017.www.ssrphotography.com

“Innovative devices like Token are transforming the payment experience for consumers by combining secure authentication and a frictionless transaction into a sleek, fashionable form factor,” said Michael Orlando, president of Fit Pay, Inc. and COO of NXT-ID. “Its launch helps push the adoption of contactless payments towards an inflection point.”

Token replaces the need for the majority of day-to-day credentials, including credit cards, house keys, passwords and more, while leveraging a proprietary continuous two-factor authentication method – via an ultra-compact fingerprint sensor in the base of the ring and an optical proximity sensor – to ensure no one but the user can ever access the protected credentials. Fit Pay’s platform will provide the payment capabilities for the device, including full digital wallet functionality with the ability to make contactless payments with an existing credit card. Fit Pay will connect Token to its Trusted Payment ManagerTM (TPMTM) platform, which is integrated with the leading card networks, and power the digital wallet functionality within the application that supports the device.

“Our vision is to offer s a device that streamlines the process of authentication throughout the day, while simultaneously protecting users from identity fraud using advanced cryptography,” said Token Cofounder and CEO Melanie Shapiro. “As we looked to add essential services to Token, contactless payment capabilities were a must-have and Fit Pay platform offered the best end-to-end solution for our users.”

Fit Pay’s proprietary technology platform 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. Fit Pay 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 the Internet to transact payments, creating a superior user experience.

Fit Pay’s 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 instant access to the leading credit card networks, such as Mastercard and Visa.

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**To view the Token media kit, click here

***To see Token in action, click here

 

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.

About Token:

Token is the biometric technology company making it simple to prove and protect your identity. Founded in 2016 by Melanie and Steve Shapiro, who previously founded Digsby, Token is an identity ring that uses continuous, biometric, two-factor authentication to let users live keyless, cardless and free of passwords. For more information, visit www.tokenize.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.

 

Token Contact:

Press@Tokenize.com

 

NXT-ID Inc. Contact :

Corporate info: info@nxt-id.com

 

Media Contacts:

Chris Orlando

chris.orlando@nxt-id.com

 

D. Van Zant

+1-800-665-0411

press@nxt-id.com

 

Tearsheet

Why connected device payments haven’t reached mass adoption

Tearsheet.com, June 12, 2017

Visa’s announcement of 13 new token service providers last week was a big step towards a future where internet-connected devices — be it a car, a refrigerator, or Amazon Alexa device — will let banking just “happen” rather than require cumbersome active steps on the part of the customer.

Through Visa’s token service provider program, it will be possible to pay for things with connected devices.

“These new forms of payment are also creating a secure, frictionless, and personalized payment experience for consumers, which provides banks and financial institutions the ability to increase and improve customer engagement,” said Michael Orlando, CEO of FitPay and COO of NXT-ID, one of Visa’s token service providers that works with wearables companies.

Full article.

Visa Logo

NXT-ID Subsidiary Fit Pay Approved as a Visa Token Service Provider

Qualification allows for the Implementation of an End-to-End Payment Solution for Device Manufacturers

MELBOURNE, Florida, June 8, 2017 /PRNewswire/ —

Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD ) and a provider of payment, credential management, and authentication platform services, today announced that its Token Service Provider (TSP) solution has been successfully integrated with the Visa Token Service. Fit Pay is now qualified as a Visa TR-TSP partner through the Visa Ready Program.

“Successfully integrating with Visa, the largest card network in the world, is a major step forward in our effort to bring contactless payment capabilities to a whole new generation of devices,” said Michael Orlando, President of Fit Pay, Inc. and COO of NXT-ID. “As one of the first partners to have our solution approved by Visa, Fit Pay takes a leadership role in enabling secure payment capabilities across a wide range of new devices and form factors.”

The Visa Ready Program provides standards to allow partners to quickly introduce Visa-approved devices, software, and solutions that can initiate or accept Visa payments. The qualification as a Visa TR-TSP provider allows Fit Pay to move forward with the implementation of its payment enablement platform for Internet of Things (IoT) and wearable devices. The company is in the process of onboarding the first devices onto its payment platform and anticipates product announcements from a number of manufacturers it is working with later this year.

“Our mission has been to create secure, frictionless, and personalized payment experiences for all consumers,” Orlando added. “With Visa’s leadership, the ecosystem for contactless payments is taking a huge step forward.”

Fit Pay’s proprietary technology platform 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. Fit Pay 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.

Fit Pay’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 instant access to the leading credit card networks, such as Visa.

About NXT- ID, Inc.

NXT-ID, Inc. (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 non-monitored 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. http://www.nxt-id.com.

A wholly-owned subsidiary of NXT-ID, 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. The company was named a ‘Startup of the Year‘ for payment technology by industry publication, Paybefore. Learn more at http://www.fit-pay.com, or on Twitter.

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

SOURCE NXT-ID, Inc.

Wareable

FitPay Comments on Apple’s Smart Strap Strategy

FitPay, was featured in the well-known tech news source, Wareable.com, June 6th in a story about Apple’s smart strap strategy:

“The twin challenges in the wearables market are utility and personalization – making devices more useful for consumers and personalizing them to fit seamlessly into any lifestyle,” says Michael Orlando, CEO of FitPay, which is currently in the process of onboarding the first devices onto its platform. “The modular nature of smart straps is one way to achieve both.”

Full article:

https://www.wareable.com/apple/apple-watch-smart-straps-core-bluetooth-8887

Visa Logo

Visa Expands Global Network of Providers to Drive Acceleration Into IoT Payments

Visa Adds Thirteen New Token Service Providers to Broaden Global Access to Visa Token Service

SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)–Today, Visa (NYSE:V) announced it has signed 13 new partners to participate in its token service provider (TSP) program, as the payments industry shifts from plastic to digital and broader access to new standards, such as tokenization, are needed. With demand expected to increase for payments to be embedded into a growing number of devices, services and experiences, Visa has built out a global network of partners to offer secure, digital payment token services and ensure that regardless of form factor, an Internet-of-Things (IoT) device, appliance, wearable or beyond, can become a more secure place for commerce. Full Press Release.

NXTID Hi res

NXT-ID and Fit Pay, Inc. Complete Business Combination

Transaction creates comprehensive security, payment and authentication platform for Internet of Things and expands NXT-ID’s existing products and capabilities

 

MELBOURNE, Florida, May 23, 2017 /PRNewswire/ —

NXT-ID, Inc. (Nasdaq: NXTD) (“NXT-ID” or the “Company”), a security technology company, and Fit Pay, Inc., a privately held provider of payment, credential management, and authentication platform services, today announced the completion of a transaction to combine their businesses and create a comprehensive Internet of Things (IoT) platform.

“Combining NXT-ID’s security and authentication technology with Fit Pay’s comprehensive platform-as-a-service (PaaS) capabilities will enable us to significantly expand our offerings to include both hardware and IoT enablement services,” said Gino Pereira, chief executive officer of NXT-ID. “This provides an important avenue to create new and compelling use cases for our existing products as well as access new potential customers for whom secure authentication and credential management are critical.”

Under the terms of the agreement, Fit Pay, Inc. will be a wholly owned subsidiary of NXT-ID, and Fit Pay CEO, Michael Orlando, will become chief operating officer of NXT-ID and remain president of Fit Pay, Inc. The companies will combine their technology, engineering and business teams to deliver complete enablement services to device manufacturers and to bring innovative IoT devices to market.

“Bringing powerful new capabilities to the Internet of Things requires seamlessly connecting devices to robust services, reliably authenticating users, and keeping data safe,” said Orlando. “Security and authentication are essential to the growth of the IoT market, combining our platform with NTX-ID’s identification technology and hardware expertise positions us to offer transformational products and services that capture IoT market share.”

Fit Pay’s white-label technology platform delivers payment, credential management, authentication and other secure services to the IoT ecosystem. Fit Pay has developed a highly secure payment network tokenization scheme and integrated with the major credit card networks to provide an all-in-one solution that allows manufacturers to add payment and authentication capabilities to IoT devices.

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

NXT-ID, Inc. (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 non-monitored 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. http://www.nxt-id.com

About Fit Pay, Inc.

Based in San Francisco, California, 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. The company was named a “Startup of the Year” for payment technology by industry publication Paybefore. Learn more at http://www.fit-pay.com, or on Twitter.

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:
D. Van Zant
+1-800-665-0411
press@nxt-id.com

Fit Pay, Inc. Contact:
Chris Orlando
+1-760-468-7273
chris@fit-pay.com

SOURCE NXT-ID, Inc.