Wednesday , February 20, 2019

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 new company.
  • Square Inc. launched its Square Solutions Partner Program, which seeks to link Square client merchants with approved agencies, resellers, and systems integrators.
  • Digital-security specialist Gemalto has teamed with two other companies, identity and encryption vendor Digicert and Isara Corp., a provider of security products based on quantum computing, to develop digital certificates and secure key management for the Internet of Things.
  • Flywire Inc., which processes tuition payments internationally, announced it is working with Allianz Global Assistance to offer an insurance product that pays tuition reimbursement in cases where students must withdraw from classes owing to illness, injury, death of the tuition payer, or other covered causes.
  • Mitek Systems Inc. released its “2018 Digital Identity: Consumer Confidence Report.”
  • Visa Inc. said Camden Fine, former president and chief executive of the Independent Community Bankers of America association, joined the card brand as a consultant to work with Visa’s Community Account team to serve U.S. community banks.
  • Mercator Advisory Group released its “15th Annual U.S. Open-Loop Prepaid Cards Market Forecasts, 2018-2021” report.

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