The partnership enables ANZ cardholders to make secure contactless payments at NFC-enabled point-of-sale locations directly from Internet of Things (IoT) and wearable devices that are integrated with the FitPay payment platform.
Under the agreement, the banking group will participate in FitPays Token Requester Program, which enables cardholders to add their payment credentials to devices that are integrated with FitPays contactless payment platform. The platform uses tokenization, a payment security technology that replaces cardholders account information with a unique digital identifier (a token), to transact contactless payments.
In addition, the partnership includes ensuring that the devices meet ANZs technical, usage, security, branding, and consumer experience requirements. Manufacturers of 15 IoT and wearable devices are currently integrating with the FitPay Payment Platform.
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