SEBASTIAN, Florida, October 30, 2018 /PRNewswire/ --
Mastercard, Garmin International, Inc., and Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ:
NXTD), today announced that the Garmin Pay™ contactless payment feature will be available for Maestro cards issued by major banks
in Europe, including KBC Bank and Insurance (including CBC and KBC Brussels) in Belgium, Rabobank and ABN AMRO in Netherlands and BNL Gruppo BNP Paribas in Italy. The contactless payment
feature and digital wallet, which is available on 10 of Garmin's latest smartwatches, enables consumers to make highly secure
contactless payments at near-field communication-enabled (NFC) point-of-sale (POS) terminals.
"By adding Maestro, our issuers will be able to expand this innovative solution to their entire consumer base,
which will result in more connected and digitally native customers than ever," said Paolo
Battiston, EVP Digital Payments & Labs Europe, Mastercard.
Garmin Pay, which launched in November 2017, allows
Garmin users to make contactless payments free from having their phone or wallet present. The payment feature includes a digital
wallet, which is integrated into the Garmin Connect™ user application. Garmin Pay is now available
on 10 of the company's smartwatches, including the D2™ Delta S, D2 Delta, D2 Delta PX, f?nix® 5S Plus, f?nix
5 Plus, f?nix 5X Plus, Forerunner® 645, Forerunner 645 Music, vívoactive® 3 and vívoactive 3
Music.
"We are committed to expanding Garmin Pay support to our customers around the world,
and we are excited to officially offer that service to Maestro cardholders," said Joe Schrick,
Garmin vice president of fitness. "Now, athletes and adventurers throughout Europe can leave
their wallet at home when they go to the gym or for a run, making it easier than ever to just get up and go."
Maestro accountholders from numerous participating issuing banks throughout Europe, including KBC in Belgium, Rabobank and ABN
AMRO in Netherlands and BNL Gruppo BNP Paribas in Italy,
will have the ability to add their account to Garmin Pay, enabling them to make "tap and go"
payments at any point-of-sale terminal that accepts contactless payments. Additional issuers on the Maestro network will be added
soon.
A February 2018 study by
Mastercard, found that one quarter (24 percent) of Europeans expect to start using "tap and go" contactless payments with a
smartwatch, bracelet, keyring or other wearable. Between 2018 and 2017, contactless spending on Mastercard and Maestro grew
by 145 percent.
"Adding Maestro is a major step forward in expanding the global footprint of Garmin
Pay, which is now available in 26 countries and through more than 200 issuers," said Michael
Orlando, COO of NXT-ID and President of Fit Pay, Inc. "Mastercard and Garmin have been tremendous partners as we have
begun providing consumers worldwide with more convenient, secure and seamless ways to pay."
Garmin Pay is powered by FitPay's Token Requester Management Platform, which enables
cardholders to securely add their payment credentials to devices that are integrated with FitPay's 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 highly secure contactless payments.
View the complete list of issuing banks, payment networks and countries supporting Garmin
Pay at Garmin.com/garminpay/banks .
About Mastercard
Mastercard (NYSE: MA), http://www.mastercard.com, is a technology company in the global payments
industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions,
merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make
everyday commerce activities - such as shopping, travelling, running a business and managing finances - easier, more secure and
more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement
Bureau.
About Garmin International Inc.
For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for
people who live an active lifestyle. Garmin serves five primary business markets, including automotive, aviation, fitness,
marine, and outdoor recreation. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200,
or follow us at facebook.com/garmin, twitter.com/garmin, instagram.com/garmin, or youtube.com/garmin.
Garmin International, Inc., is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in
Switzerland, and its principal subsidiaries are located in the United
States, Taiwan, and the United Kingdom. Garmin, f?nix,
Forerunner and vívoactive are registered trademarks and Garmin Pay, Garmin Connect and D2 are
trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are
the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements for Garmin:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based
on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur
and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin,
including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 31, 2017, filed by Garmin with the Securities and Exchange Commission (Commission file number
0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be
guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation
to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or
otherwise.
About NXT- ID, Inc. and Fit Pay, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and
services that enable the Internet of Things (IoT). With extensive experience in access control, biometric and behavior-metric
identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies,
NXT-ID develops and markets groundbreaking solutions for payment and IoT applications. Its industry-leading technology products
and solutions include MobileBio®, a suite of biometric solutions that secure consumers' mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries: LogicMark, LLC, a manufacturer and distributor of non-monitored and monitored personal emergency response systems
("PERS") sold through dealers/distributors and the United States Department of Veterans Affairs; Fit Pay, Inc., a proprietary technology platform that delivers end-to-end solutions to device manufacturers
for contactless payment capabilities, credential management, authentication and other secure services within the IoT ecosystem,
and 3D-ID LLC, which is engaged in biometric identification and authentication. Learn more about NXT-ID at http://www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of
Fit Pay, Inc. For
Forward-Looking Statements for NXT-ID: This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements
include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual
results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such
risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our
technology through the patent process, as well as our ability to possibly license from others patents and patent applications
necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for
various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or
distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable
to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from
time to time in the Company's reports filed with the Securities and Exchange Commission.
NXT-ID Inc. corporate information contact: info@nxt-id.com
Media contact:
Chris Orlando
chris@fit-pay.com
+1-760-468-7273
SOURCE NXT-ID, Inc.