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Mobile Payments

FitPay to introduce prepaid to wearables and IoT

Wednesday 12 July 2017 | 09:43 AM CET

FitPay has announced plans to introduce prepaid features on wearable and other devices connected to its FitPay Payment Platform.

The company’s Prepaid Mastercard will allow customers that have contactless payment-enabled devices the convenience of storing funds directly on their devices.

The Prepaid Mastercard option will be available to original equipment manufacturers that integrate their products with the company’s platform. Consumers will be able to load their FitPay-enabled internet of things (IoT) or wearable devices with prepaid value for contactless purchases. Users can then reload their accounts, set top-up thresholds and manage account settings via a digital wallet.

The company’s Prepaid Mastercard is issued by Sunrise Banks, while Cascade Financial Technology serves as the programme manager.

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