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NXT-ID Subsidiary Fit Pay Announces Flip – a Contactless Payment Device for Cryptocurrencies

Contactless payment instrument to be funded with value exchanged from cryptocurrency

MELBOURNE, Florida, February 8, 2018 – Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced FlipTM, a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations. The launch of the new device follows a December 2017 announcement by Fit Pay that it is expanding its platform to connect cryptocurrencies to the payment ecosystem. Leveraging the FitPay Payment PlatformTM, Flip will use value exchanged from cryptocurrency to make traditional payment transactions. The FitPay will begin taking pre-orders for Flip in February 2018 on a date to be announced.

“Flip is a very convenient way to use cryptocurrency value to make retail transactions,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Not only does it seamlessly exchange cryptocurrency into dollars, it’s contactless, giving users a simple tap-to-pay experience.”

Flip will be near field communication-enabled (NFC) allowing it to transact payments at any retail point of sale location that accepts contactless payments. Flip will store a preloaded amount of U.S. dollars that are exchanged from the user’s existing cryptocurrency account. It includes a digital wallet that allows the user to set how much value they would like their Flip to hold and when they would like it to reload.  Initially, Flip will accept value exchanged from Bitcoin and will potentially expand to other cryptocurrencies in the future.

“When we announced that we were extending the FitPay Platform to cryptocurrencies, our goal was leverage our existing technology to connect cryptocurrencies to the payment ecosystem,” said Orlando. “That’s exactly what Flip achieves. And it continues to expand our offerings, furthering our mission to fundamentally change the way people pay.”

Consumers interested in Flip can add their email address to the Flip interest list at FliptoPay.com. Pre-orders for Flip on FliptoPay.com will begin in February 2018 on a date to be announced, with initial deliveries expected in the second quarter of 2018. Flip is currently only available in the United States. For more information, visit FliptoPay.com.

FitPay and Cascade Financial Technology Corp (Cascade FinTech) recently announced an agreement for the joint development of the platform that will be used to enable Flip, giving cryptocurrency holders the ability to use the value exchanged from cryptocurrency to be used for traditional payment transactions. The agreement is an expansion of an existing relationship between the two companies to provide prepaid capabilities on wearable and Internet of Things (IoT) devices connected to the FitPay Payment Platform. The prepaid, or GPR, option gives consumers with FitPay’s contactless payment-enabled devices the convenience of storing funds directly on their device. Under the previous agreement, the FitPay Platform connects to the Cascade CloudTM to enable contactless payment GPR devices in a variety of form factors.

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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:

Chris Orlando

chris@fit-pay.com

1.760.468.7273

 

D. Van Zant

press@nxt-id.com

1.800.665.0411

ANZ Logo

ANZ and NXT-ID Subsidiary Fit Pay Collaborate to Bring New Tap and Go Payment Devices to the Australian Market

Agreement will provide new contactless payment options for ANZ customers

MELBOURNE, Florida, December 19, 2017 – Australia and New Zealand Banking Group Limited (ANZ) 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. The agreement enables ANZ cardholders to make secure contactless payments at NFC-enabled point-of-sale locations directly from Internet of Things (IoT) and wearable devices that are integrated with the FitPayTM payment platform.

“We are very pleased to be working with one of Australia’s leading banks to help drive the adoption of new contactless payment technology,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Australians have embraced the convenience of tap and go payments. This agreement allows them to enjoy that same frictionless payment experience on a wider variety of devices.”

Under the agreement, ANZ will participate in FitPay’s Token Requester Program, which enables cardholders to securely add their payment credentials to devices that are integrated with FitPay’s contactless payment platform. 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. It allows consumers to pay at near-field communication-enabled point-of-sale terminals with a simple tap.

The collaboration with ANZ includes ensuring that the devices meet ANZ’s technical, usage, security, branding, and consumer experience requirements. Manufacturers of 15 IoT and wearable devices are currently integrating with the FitPay Payment PlatformTM. Product announcements from the manufacturers of these devices are anticipated in throughout the next year.

Australia leads the world in the adoption of contactless payments, with 4 in 5 consumers making at least one contactless payment a week.

ANZ is one of the five largest listed companies in Australia and the number one bank in New Zealand. It operates in more than 34 markets across Australia, New Zealand, Asia, Pacific, Europe, America and the Middle East including a technology and operations center in Bengaluru, India.

For more information on ANZ’s mobile payment options visit: mobilepayments.anz.com

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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:

Chris Orlando

chris@fit-pay.com

1.760.468.7273

 

D. Van Zant

press@nxt-id.com

1.800.665.0411

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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

 

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.