NXT-ID Subsidiary Fit Pay Selected as a Finalist for 2017 IoT Innovator Awards
"We are honored Fit Pay has received this recognition by IoT Innovator – a publication with its finger on the pulse of the latest industry developments," said
The FitPay Payment PlatformTM is a proprietary technology platform that 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 highly secure contactless payment and authentication services. FitPay leverages Embedded Secure Element (eSE) chip technology within devices to offer a payment solution that is very power and memory efficient and does not need to refresh a token once it is issued. This frees devices from needing to be tethered to a host device or connected to the Internet to transact payments, creating a superior user experience.
FitPay's end-to-end payment solution allows IoT and wearable device manufacturers to add payment and authentication capabilities to their products with very little start-up time, no investment in software development and access to the leading credit card networks. Manufacturers of 15 IoT and wearable devices are currently integrating with the FitPay payment platform.
A complete list of the companies selected as finalists for the 2017 IoT Innovator Awards and information about the award program, can be found at http://iotinnovator.com.
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