Topic “Garmin 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.

Garmin Pay Welcomes Support from Third U.S. Network but More Competition on Horizon

NFC TIMES Exclusive Insight – Garmin Pay added a third network to its smartwatch payments service in the U.S. this week, enabling Discover Financial Services-branded cards to be loaded onto its NFC-enabled devices, as more acceptance points for NFC payments in the U.S. come online to give consumers additional places to tap to pay.

Fitbit Unveils First Non-Smartwatch Supporting NFC Payments Service, but Progress of Device Rollout Slow

Oct 13 2018

NFC TIMES Exclusive Insight ­– U.S.-based wearables maker Fitbit in November plans to release its first non-smartwatch supporting its payments service, Fitbit Pay, with the recent unveiling of its new health and fitness tracker Charge 3–but as with its Versa smartwatch, released in April, the NFC payments feature will only be available on a “special edition” version of the tracker in the U.S. and likely in some other markets.

Dominant NFC Chip Supplier Seeks to Move Up Value Chain by Providing More Services

NFC TIMES Exclusive – NXP Semiconductors, the dominant supplier of NFC chips and secure elements for smartphones and wearables, is seeking to push further up the value chain, offering such services as a white-label wallet platform and provisioning of bank and transit payments applications.

Garmin Unveils New Smartwatch Series Supporting Garmin Pay

NFC TIMES Exclusive Insight – U.S.-based wearables maker Garmin has introduced a fourth smartwatch to its lineup of devices supporting its NFC-enabled payments service, Garmin Pay, the high-end D2 Delta watch series targeted at aviators or aviator wannabes.

Second Smartwatch Supports Fitbit Pay, but Payments Service Remains Fragmented

NFC TIMES Exclusive Insight – Struggling wearables maker Fitbit on Monday began selling its second smartwatch, the Fitbit Versa, supporting its NFC-enabled Fitbit Pay service, but not all versions of the new device support NFC in the U.S.

Can Luxury Watchmaker TAG Heuer Sell Swiss Precision Along with NFC Payments? Its Latest Smartwatch Again Supports Android Pay

NFC TIMES Exclusive Insight – While payments wearables, in general, are taking off more slowly than expected, a number of manufacturers are incorporating the feature in their high-end watches and that includes Switzerland-based luxury watchmaker TAG Heuer.

HEADLINE NEWS

‘No Way We were Going to Ask for Half a Billion Dollars…’

Unlike other major transit agencies in the U.S., which have spent hundreds of millions of dollars replacing or upgrading their fare-collection systems, the Los Angeles County Metropolitan Transportation Authority has taken a different approach.

UK Bus Operator Go-Ahead Reports Cash Usage has Plummeted Because of Covid, While Contactless Transactions have Surged

The Go-Ahead Group, one of the big five privately owned public bus operators in the UK, said today it has seen cash usage on board the nearly 3,000 buses it runs in England outside of London fall to 23% of transactions, down from 53% three years ago.

Transit Operator Arriva Launches MaaS App in Netherlands; Hints at Expansion to Other European Countries

Arriva, one of the largest private transit operators in Europe, has launched a mobility-as-a-service app in the Netherlands, using white-label software from Israel-based trip-planning app provider

Cal-ITP: Agencies in California Could Hold ‘Several More’ Open-Loop Fare Payments Pilots

The California Integrated Travel Project, or Cal-ITP, is “on track to have at least several more” open-loop pilots or demonstration projects, a spokeswoman for the program told Mobility Payments.

Exclusive: Australia’s Transport for New South Wales Sees ‘Significant Increase’ in Use of Mobile Wallets by Riders

Mobile wallets now make up more than half of all contactless payments for Transport for New South Wales, Australia’s largest transit agency, the agency confirmed to Mobility Payments.

Start-Up Aims to Encourage More Taxi Drivers to Accept Bank Cards for Fares in Turkey

A Turkish start-up hopes to entice more taxi drivers to accept contactless credit and debit cards using SoftPOS terminals on Android smartphones, under a scheme being rolled out by the local fintec

Moscow Metro Launches Test of Facial Recognition Fare Payments Ahead of Rollout; Agency Says Masks Can Slow Verification

Moscow Metro announced that it is officially testing facial recognition-based fare payments at turnstiles, with plans to roll out the technology by the end of the year.

Major Transit Agency to Test Virtual Closed-Loop Cards with Google Pay

Aug 8 2021

Moscow Metro is launching a trial of a virtual version of its closed-loop Troika card that will be added to the Google Pay wallet, the agency announced Wednesday.

WMATA in D.C. Rolling Out New Terminals but has No Immediate Plans to Support Open Loop

The Washington (D.C.) Metropolitan Area Transit Authority last month started to replace 1,200 aging fare gates for its 91-station metro system and starting next year will do the same with 20-plus year-old fareboxes on board 1,500 buses, including upgraded readers for its closed-loop SmarTrip cards.

Visa Touts Growth in Contactless, Continues to Push Open-Loop Payments

Visa reported this week that contactless payments continued to climb as a percentage of all face-to-face transactions with its brand, mainly at retail, and among the uses the network is continuing to push for contactless is to pay for transit fares.

MaaS Global CEO: Transit Agencies Should Not Control MaaS Platforms

Sampo Hietanen, founder and CEO of Finland-based MaaS Global, agrees with most other industry experts that public transit should form the “core” of the mobility services on offer in any MaaS app or platform. But he contends that it would be a mistake for the agency itself to control the platform.

Case Study: German City First to Go Live with Check-in/be-out System in Country

Despite the growing popularity of contactless, NFC and QR-code technologies for electronic fare-collection, some transit agencies are experimenting with other technologies to collect fares.