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Mastercard Partners with Fit Pay to Accelerate the Development of Payments-Enabled Devices and Wearables

Companies to Bring Secure Contactless Payments to Millions of Devices from Wearatec and Other Innovative Manufacturers 

PURCHASE, N.Y. and LAS VEGAS, Nevada – October 25, 2016 – Mastercard today announced a partnership with Fit Pay, Inc. to bring Mastercard contactless payments to consumer wearables and Internet of Things (IoT) devices. By integrating the Fit Pay platform with the MasterCard Digital Enablement Service (MDES), the companies will work with Wearatec and other innovative manufacturers to bring to Mastercard cardholders a variety of secure contactless payments-enabled devices.

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The Fit Pay platform drastically reduces the time-to-market, cost and complexity of payment and authentication services for wearable device manufacturers. The Fit Pay partnership with Mastercard highlights the growing ecosystem of technology integrators that have joined the Mastercard Commerce for Every Device program. Mastercard has developed partnerships with companies across multiple categories to enable simple and secure payment transactions to fit every consumer lifestyle, enabling them to use the device that is most convenient to them, with the highest level of security.

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Fit Pay and Cascade Team to Bring Prepaid Capabilities to Wearable Devices


Money2020, Las Vegas, NV; October 24, 2016 Fit Pay, Inc. and Cascade Financial Technology Corp today announced an agreement to provide prepaid capabilities on wearable devices on the Fit Pay Payment Platform. The prepaid, or general purpose reloadable (GPR), option will give consumers with Fit Pay’s contactless payment-enabled devices the convenience of a storing funds directly on their device. Under the agreement, the GPR service will be available on devices attached to the Fit Pay Platform as well as through a custom-branded contactless payment GPR wristband.

“A prepaid option for wearable payments provides consumers with a whole new level of convenience. Load, tap and pay – it’s that simple,” said Michael Orlando, co-founder and chief executive officer of Fit Pay. “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.”

Approximately 45 percent of millennials (age 19 to 35) own a GPR card. Of those, more than one-third intend to purchase a wearable device in the next year while 23 percent already make contactless payments at least once a week, according to the research by Federal Reserve of Philadelphia, Forester Research and Accenture.

The Fit Pay 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 tap of the wrist.

Fit Pay’s Payment Platform enables wearable device manufacturers to integrate contactless payment capabilities into wearable devices with very little start up time, no investment in software development and instant access to the leading card networks. The agreement with Cascade will add a GPR option to the Fit Pay Platform. In addition, Fit Pay and Cascade will offer a white-label GPR contactless payment wristband to event venues, resorts, universities and other custom-branded opportunities.

“Adding a prepaid account to a wearable device makes total sense,” said Spencer Schmerling, Founder and chief executive officer of Cascade Financial Technology. “Now a consumer can store money right on the device and checkout without reaching for their wallet or cell phone.”


About Fit Pay, Inc.

Based in San Francisco, California, Fit Pay, Inc. is led by former CyberSource, Visa and Jumio executives with more than 50 years of payment and identity authentication domain expertise. With payment capabilities enabled by Fit Pay, wearable 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 “Cool Vendor” by Gartner for 2016. Learn more at, or on Twitter.


About Cascade Financial Technology Corp

Based in Las Vegas, Nevada, Cascade Financial Technology Corp provides a reliable and scalable platform for FinTech startups to quickly get their product or service to market. Cascade’s platform features RESTful API’s, full BSA/AML compliance, automated KYC, extensive fraud mitigation, and world-class USA based customer service, all of which enable our clients to create the most innovative and inclusive financial products and services that allow all people to participate in the FinTech revolution.