POINT ROBERTS, Washington, Oct. 31, 2017 /PRNewswire/ — Investorideas.com, a global news source and investor resource covering tech stocks reports on developments in payments and wearables from the recently held Money20/20 conference in Las Vegas.
Watch Money 20/20 Video: Steve Wozniak talks Apple Pay and Apple Watch, NXT-ID (NASDAQ: NXTD), Fit Pay demo the company’s payment technology, including the Garmin® vívoactive® 3 smartwatch with Garmin PayTM powered by FitPayTM
Money20/20 is the world’s largest payments and financial services innovation event. If you are looking for what’s new and what’s next in payments and fintech – this was the place to be. The event is growing each year in terms of exhibitors, speakers and attendees. The event draws in high profile speakers and the Sunday tracks on AI were filled beyond capacity.
Steve Wozniak, Apple’s Co-founder packed the conference at the AI Deep Dive session, ‘The Woz on Empowering Humans with Tech’. His main focus was AI technology but he also talked about wearables and payments and the ease of use of Apple Pay. Comparing how he previously “had to turn on his phone, type in a lock code, find an app like Google Wallet and then I would have to select a credit card and then I could pay – you see the problem with that? A credit card is so much easier. When Apple Pay came out; you just hold your phone up, put your finger on it to identify yourself and pay.”
He also went on to say he wanted “the convenience of ‘everything, everywhere’ and just using his fingerprint and would like to take his watch and open up his car door, his house door, his business door, pay for things and maybe a ring, a little ring would be better.”
Deirdre Bosa, Technology Reporter at CNBC, interviewing Steve, reminded the audience that “Visa and MasterCard both have the ring where you just tap.”
Steve also went on to ask,”Will we ever have a worldwide standard where you have everywhere in the world you go, it works?”
Following up on Steve’s comments in payments, Investor Ideas got a live demo from NXT-ID (NASDAQ: NXTD) COO and Fit Pay President, Michael Orlando, who showed us how their payment technology works in the Garmin® vívoactive® 3 smartwatch with Garmin Pay™.
Michael told us, “Fit Pay was at Money20/20 last year, partnered with MasterCard to launch our payments platform for wearable and IoT devices. This year we have launched with the Garmin®vívoactive® 3 smartwatch and Garmin PayTM, as part of our partnership with Visa and MasterCard.”
During the demo he showed how easy it is to set up, manage and pay. He says, “Once it’s set up you just tap your watch on the terminal and the transaction is approved. The user gets confirmation on the watch the transaction is done.”
Michael explained, “For the consumer, the experience is very similar to Apple Pay and using the Apple Watch. What is unique about our offering is that we have built out a platform that allows any device manufactured to integrate payments onto their device. Our first partner Garmin (NASDAQ: GRMN) is launching in market this month and we have 14 other partners that will be bringing various types of form factors – whether they be rings, a key fob like the Bee, smart bracelets and smart jewelry; all coming to market that will have payment capabilities all built into them.”
“So it’s really about bringing that frictionless, seamless payment experience to consumers for whatever device they want that fits their lifestyle.”
Steve will get his wish soon; a ring that he can use to tap and pay and the promise of a convenient user experience on any device. Everything – everywhere…
Investor Ideas also caught up with NXT-ID CEO Gino Pereira about the company’s participation in the event.
“This is our third year here at the Money20/20 Conference. It’s grown tremendously,” said Pereira. “We are showcasing our IoT products, particularly contactless payments.”
Money20/20 is the world’s largest marketplace for ideas, connections and deals in payments and financial services. It brings together leaders representing every sector of the industry to seize new business opportunities, strengthen partnerships and discover the latest disruptions.
With more than 11,000 attendees, including more than 1,700 CEOs and Presidents, from 4,500 companies and 85 countries expected at the 2017 U.S. event, Money20/20 brings together the who’s who of an industry that’s revolutionizing the future of money.
More information about the 2017 Money 20/20 event and NXT- ID’s Money20/20 company profile can be found at: https://us.money2020.com/companies/nxt-id
About NXT- ID, 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 www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc.