Fit Pays platform will provide the payment solutions for the device, including digital wallet functionality with the ability to make contactless payments with an existing credit card. Fit Pay will connect Token to its Trusted Payment Manager (TPM) platform, which is integrated with card networks.
Fit Pays 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 contactless payment and authentication services.
Token is the biometric technology company and an identity ring integrated with MasterCard, Microsoft, Visa, HID, Fit Pay and the FIDO Alliance.
Fit Pay, a wholly owned subsidiary of NXT-ID, develops a contactless payment platform based on wearable devices.
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