Nxt-ID Inc.’s Fit Pay Inc. unit is using contactless technology from CPI Card Group Inc. for Fit Pay’s coin-shaped Flip device, which lets users store and spend U.S. dollars converted from Bitcoin holdings. Specifically, Fit Pay, a unit of Melbourne, Fla.-based Nxt-ID Inc., has adopted a product called “Adaptives,” CPI …
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Nxt-ID Closes in on Spin-Off; Investor Challenges First Data-Fiserv Merger; Plus Weekly Recap
Nxt-ID Closes in on a Spin-Off of Its Fit Pay Payments And Tokenization Unit
Nxt-ID Inc. is getting closer to spinning off its Fit Pay Inc. unit, which markets the contactless-payment technology behind Garmin Pay and Swatch Pay and also this week began shipping a contactless device to allow consumers to spend their Bitcoin holdings at stores. The spin-off, first announced in September, will …
Read More »New Specs Coming from Standards Bodies; Virtual Cards and SMBs; Nxt-ID Delays Spinoff
Nxt-ID To Spin Off Payments Business and other Digital Transactions News briefs from 9/21/18
Nxt-ID Inc. announced it will spin off its payments, authentication, and credential-management assets, including its FitPay unit, into a separate and independent company. It expects to complete the transaction by Nov. 15. Michael Orlando, currently chief operating officer at Nxt-ID and president of FitPay, will become chief executive of the …
Read More »Litecoin Targets Payments; Walmart’s New P2P Service; NXT-ID Promises More Products in 2018
NFC Specialist NXT-ID Reports an Encouraging 2017 And Promises More Products for 2018
NXT-ID Inc., a provider of authentication and contactless-payment technology, reported on Monday that its revenue tripled last year compared to 2016 while its adjusted earnings before interest, depreciation, taxes, and amortization swung positive. The Melbourne, Fla.-based company is best-known in the payments market for its Fit Pay Inc. unit, which …
Read More »WUBS Renames as Convera and other Digital Transactions News briefs from 8/13/21
Western Union Business Solutions (WUBS), formerly a unit of the Western Union group of companies, will rename itself Convera upon its recently announced $910-million acquisition by Goldfinch Partners LLC and The Baupost Group LLC. Patrick Gauthier, most recently head of Amazon Pay, has been announced as chief executive of Convera, which …
Read More »Loop’s Vend Integration and other Digital Transactions News briefs from 4/7/21
Contactless-technology provider Loop Insights Inc. announced it has integrated its service with an application programming interface for billing from point-of-sale technology provider Vend Ltd. The integration enables onboarding of Vend merchants to Loop’s compliance and reporting platform. Processor Lightspeed POS Inc. last month agreed to acquire Vend in a deal valued at $350 million. …
Read More »PayPal’s iZettle Deal Gets U.K. Approval and other Digital Transactions News briefs from 4/30/19
PayPal Holdings Inc. said the United Kingdom Competition and Markets Authority provisionally cleared PayPal’s $2.2 billion deal to buy iZettle AB, a European point-of-sale services provider. The deal closed in 2018. Processor First Data Corp. said merchant-processing revenues from North American clients rose 5% year-over-year in the first quarter to …
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