Topic “Fit Pay”

Former Garmin Pay Technology Providers Sue Device Maker Claiming Unpaid Millions, Though Offer Scant Proof of Claims

NFC TIMES Exclusive –  The founders of former payments wearables provisioning company Fit Pay, which was acquired last September for $3.3 million by smartwatch and fitness band maker Garmin, have sued the device maker and two other parties, claiming they are owed millions in missed earn-out payments.

In-Depth: Fit Pay’s Troubles Indicate Difficult Business Case for Provisioning to Wearables

Sep 19 2019

NFC TIMES Exclusive Insight –  Given the poor financial results of U.S.-based Fit Pay, it’s becoming clear that the business case for provisioning of payment cards to wearable devices remains difficult.

In-Depth: Garmin Pay Provisioning Company Fit Pay Hopes to Build on Early Lead with Spin-Off, but Larger Competitors are Gearing Up

NFC TIMES Exclusive Insight – U.S.-based Nxt-ID disclosed late Thursday that the spin-off of its payments unit, Fit Pay, which provides bank card provisioning for Garmin Pay, would again be delayed, as it waits another couple of weeks for the closing of a nearly $17 million loan it needs to move forward with the new company.

In-Depth: Nxt-ID Gets Much-Needed Financing, Clearing Way to Spin Off Its Payments Wearables Provisioning Unit Fit Pay

Apr 5 2019

NFC TIMES Exclusive Insight – U.S.-based Nxt-ID, whose Fit Pay unit provides payment card provisioning for Garmin Pay, has announced a closing date for a $16.5 million loan it will use for working capital and to refinance an existing loan.

Swedish Watchmaker Latest Passive Wearables Maker with Plans to Enable Payments

NFC TIMES Exclusive Insight – Small Swedish analog watchmaker TRIWA next week plans to launch payments wearables enabled for tokenized Mastercard-branded cards issued by Swedish banking group SEB, with provisioning company Fidesmo telling NFC Times there will be more watch brands to come enabling payments.

Provisioning Tokens to Swatch Watches in the Store: How SwatchPAY! Works

Jun 30 2019

NFC TIMES Exclusive – Switzerland-based watchmaker Swatch plans to roll out its SwatchPAY! contactless payments service to a number of European countries and then perhaps globally, representing budding competition to Apple Pay, Fitbit Pay and Garmin Pay. But unlike these three smartwatch-enabled Pays services and others, SwatchPAY! uses low-cost analog watches as its payments devices.

Swatch Expands Payments Service–Provides Affordable Analog Alternative to Smartwatches

Jan 21 2019

NFC TIMES Exclusive Insight – Swatch, one of the world’s largest watchmakers, has expanded its contactless-payments service to its home base of Switzerland, launching the restyled SwatchPAY! service with seven card issuers Thursday. A spokeswoman told NFC Times the company plans to expand the service to other European countries this year. 

Vendor Hopes to ‘Flip’ Bitcoin Holders into Users of Cryptocurrency for Retail Purchases

NFC TIMES Exclusive Insight – While Bitcoin and other cryptocurrencies are mainly seen as assets for speculative investments these days rather than currencies for making payments, U.S.-based provisioning and mobile wallet platform company Fit Pay Thursday released a second announcement about its planned contactless device that would enable holders of Bitcoin to make purchases at brick-and-mortar stores.

Analysis: STMicroelectronics Seeks to Stay Competitive in Payments Wearables Market with Provisioning Partnership

Jan 14 2017

NFC Times Exclusive Insight Chip maker STMicroelectronics has been gearing up to make a play for the payments wearables market, an initiative punctuated by its announcement last week that it is working with Germany-based Giesecke & Devrient and payments wearables technology start-up FitPay to streamline provisioning of card credentials on its embedded chips.

Analysis: OTI Attempts Seeks to Enable Payments on Wearables

Mar 24 2016

NFC Times Exclusive Insight – Israel-based contactless reader and NFC vendor On Track Innovations is hoping a planned move to enable the provisioning of payment applications onto wearable devices, will generate recurring revenue and help bolster its finances.

HEADLINE NEWS

Apple Enables Virtual SmarTrip Fare Card for Apple Pay in Washington, D.C., with More Closed-Loop Transit Cards Expected This Year in U.S.

NFC TIMES Exclusive Insight – Apple added support for its latest closed-loop transit card for Apple Pay, enabling customers of the Washington Metropolitan Area Transit Authority, or WMATA, to tap their NFC-enabled iPhones and Apple Watches to pay for rides with WMATA’s SmarTrip virtual card.

Insight: Apple’s Long Game Pays Off, Conquering Resistance to Apple Pay from Banks in Europe and Beyond

NFC TIMES Exclusive Insight – It’s coming up on six years since Apple announced its groundbreaking digital-payments service, Apple Pay. And while consumer adoption remains a work in progress, Apple has had considerable success gaining participation from banks and other issuers in what is now more than 50 countries worldwide.

Transit Agency in Canada Plans to Launch Mobile Ticketing, Citing Covid Fears

NFC TIMES Exclusive Insight – Another transit agency in Canada has announced it will enable mobile ticketing, along with reloadable contactless cards, citing in part the Covid-19 pandemic and the desire to reduce the use of cash, vending machines and customer interaction with agency staff.

Biggest U.S. Supermarket Chain Trials Contactless as Covid-19 Fears Increase Demand for ‘No-Touch Payments’

NFC TIMES Exclusive Insight – The announcement by The Kroger Co., the largest supermarket chain in the U.S., that it has begun trialing contactless payments in a subsidiary indicates that one of the last major holdouts among big U.S. merchants will eventually accept such NFC payments services as Apple Pay and Google Pay, as well as contactless bank cards.

Southern California Transit Agency to Sell Tickets Via Google Maps and Google Pay; Others Expected to Follow

NFC TIMES Exclusive Insight – There’s more evidence that popular trip-planning apps Transit, Moovit and Google Maps are seeking to expand further into mobile ticketin

Insight: Apple Buys Mobile-POS Firm as It Seeks to Expand Acceptance of Contactless Payments

NFC TIMES Exclusive Insight – In a move seeking to expand the base of merchants that can accept its payments service, Apple Pay, Apple has reportedly acquired Montreal, Canada-based mobile POS company Mobeewave, which could enable small shop owners, restaurants and street vendors, among others, to more easily accept contactless EMV cards and NFC mobile wallets.

Exclusive: Google Tests Mobile Ticketing Initiated in Maps App; Could Lead to Mobility-as-a-Service Offer?

Jul 23 2020

NFC TIMES Exclusive – Three small public transit agencies in the U.S. are quietly testing use of Google Maps and Google Pay to enable customers to first plan then pay for tickets. It’s believed to be the first pilots of its kind for Google, a move that could mean the search giant plans to compete with such popular trip-planning apps as Transit and Moovit, which are starting to enable public transit ticketing and payments, NFC Times reports.

Los Angeles Transit Authority to Support Closed-Loop TAP Card in Both Apple Pay and Google Pay

Jul 17 2020

NFC TIMES Exclusive Insight – The Los Angeles County Metropolitan Transportation Authority, or Metro, plans to introduce an Android version of its TAP closed-loop fare card, with a virtual TAP card for the Google Pay wallet, a Metro spokesman confirmed to NFC Times.

Uber Expands Mobile Ticketing to More U.S. Public Transit Agencies

NFC TIMES Exclusive – As expected, Uber today has expanded support for public transit ticketing in its app again, this time to a consortium of 13 small and mid-tier transit agencies in Ohio and Northern Kentucky–following two other U.S. transit agencies, in Denver and Las Vegas, which have already integrated with Uber–it was announced today. NFC Times had reported the planned move in late May. 

Open-Loop Fare Payments Rollouts Continue Post-Lockdowns, with Italy’s Fourth Largest City Latest to Launch Service

NFC TIMES Exclusive Insight – Another of Italy’s major cities has launched open-loop fare collection, with Turin enabling customers to pay for rides on its one-line metro and certain bus routes by tapping their contactless EMV credit and debit cards, along with smartphones and smartwatches supporting NFC payments services.

Calgary Transit Launches Mobile-Ticketing Service with Plans to Expand to Open Loop

NFC TIMES Exclusive Insight – Canada’s third largest city, Calgary, has introduced its first electronic fare payments service, offering mobile ticketing from a software-as-a-service platform provider, with plans to enable customers to pay for fares with their contactless EMV credit and debit cards and NFC wallets.

As E-Commerce Surges, Major U.S. Payments Networks Announce Plans to Expand Click to Pay Globally

NFC Times Exclusive Insight – As e-commerce continues to grow in importance as Covid-19 lockdowns ease, four major U.S. payments networks announced today they are laying the groundwork to expand their uniform e-commerce checkout platform internationally.