Fit Pay

paymentsmobile/digital walletproximity mobile paymentssoftware/whitelabel/apis-payments

STATUS: Acquired/Merged
FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 19/02/2021

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About

FitPay is a technology platform that adds contactless payments capabilities to wearable and IoT devices. FitPay has integrated with the major card networks and chip manufactures to make it faster and less expensive for OEMs to add payment capabilities to their products. This allows a wider range of devices and form factors to be payment enabled, which will dramatically change the number and types of devices that transact contactless payments. The company was acquired by Garmin International in September 2019. FitPays all-in-one solution provides flexible integration options with developer-friendly tools and documentation, including Trusted Service Management services, full-featured API, mobile SDK (iOS & Android) and a highly secure tokenization scheme.

MEDICI Analysis

FitPay offers an entirely new way for transacting payments using a wearable device. It is a platform that reduces the time-to-market, cost and complexity of payment and authentication services for wearable device OEM's.

Focus

PRODUCTS & SERVICES

FitPlay is a payment platform where one can transfer money using any wearable devices by allowing their identity to be authenticated with their unique biometric pattern.

REVENUE MODEL

FitPlay follows a subscription based revenue model

EXISTING PARTNERSHIPS

CONNECTEDEVICE Ltd.

People

FOUNDERS

Chris Orlando

Scott Stevelinck

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Giesecke+Devrient

Plug and Play

KEY EMPLOYEES:

Michael Orlando

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

1

TOTAL FUNDING

$3.1 M

DATE OF LAST FUNDING

Feb 2016

IPO STATUS

Private

ESTIMETED REVENUE RANGE

$1M to $10M

SEED & PRIOR FUNDING

$3.1 M

SEED CLOSED ON

Feb 2016

LISTED

NO

company provided insights
Acquisitions

M&A

ACQUIRED BY

NXT-ID

ANNOUNCED DATE

May 2017

PRICE

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company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

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AVERAGE VISITS (6 MONTHS)

21.09

MONTHLY VISITS GROWTH

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VISIT DURATION

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VISIT DURATION GROWTH

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BOUNCE RATE

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BOUNCE RATE GROWTH

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GLOBAL TRAFFIC RANK

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MONTHLY RANK CHANGE

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MONTHLY RANK GROWTH

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Innovation Programs

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