The agreement enables Westpac customers to make secure contactless payments at NFC-enabled POS locations directly from Internet of Things (IoT) and wearable devices that are integrated with the FitPays Trusted Token Manager. Westpac will participate in FitPays Token Requester Program, which enables cardholders to securely add their payment credentials to devices that are integrated with FitPays token management solution.
The platform uses tokenization, a payment security technology that replaces cardholders account information with a unique digital identifier (a token), to transact contactless payments.
The FitPay Trusted Token Manager provides contactless payment capabilities and full digital wallet functionality to a variety of IoT and wearable devices. The Platform powers the Garmin Pay capability on several recently launched smartwatches by Garmin. Garmin Pay is currently enabled on the vívoactive3, the vívoactive 3 Music, the Forerunner 645, the Forerunner 645 Music, and the fenix 5 Plus series.
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