Fit Pay, a wholly-owned subsidiary of NXT-ID, has revealed that it is adding payment capabilities to Token, a biometric identity ring.
The proprietary technology platform provided by Fit Pay will deliver payment, credential management, authentication and other secure services to the biometric ring.
Fit Pay said that it will equip Token with digital wallet functionality and connect to its Trusted Payment Manager platform, which is integrated with major card networks as Mastercard and Visa.
Michael Orlando, president of Fit Pay and COO of NXT-ID, said: “Innovative devices like Token are transforming the payment experience for consumers by combining secure authentication and a frictionless transaction into a sleek, fashionable form factor. Its launch helps push the adoption of contactless payments towards an inflection point.”
Token cofounder and CEO Melanie Shapiro said: “Our vision is to offer a device that streamlines the process of authentication throughout the day, while simultaneously protecting users from identity fraud using advanced cryptography.
“As we looked to add essential services to Token, contactless payment capabilities were a must-have and Fit Pay platform offered the best end-to-end solution for our users.”
Token is now available for presale at the company’s website beginning at $249, and will begin shipping to users in December 2017.