Fit Pay
payments . mobile/digital wallet . proximity mobile payments . software/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:
KEY EMPLOYEES:
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
M&A
ACQUIRED BY
NXT-ID
ANNOUNCED DATE
May 2017
PRICE
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company provided insights
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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PAGE VIEWS VISIT
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PAGE VIEWS VISIT 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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