COO of NASDAQ Michael Orlando Talks Fit Pay’s Flip Crypto Payment Device


Recent Podcast Interview with COO of NASDAQ Shows New Changes for Their Platform

Investorideas.com is one of the leaders in the tech and fintech industries for their news reports on different investor opportunities. Recently, they managed to hold a podcast that let them dive deep into the NASDAQ: NXTD platform with COO Michael Orlando, who is also the president of Fit Pay.

Much of the attention comes from the last few weeks of interesting activity from FitPay, which is a subsidiary of NXT-ID. However, there’s plenty to count on changing in the future, as Orlando too the opportunity to discuss the new products coming from their partnership with Garmin. Some of those new innovations include the vivoactive® 3 Music and the fēnix 5® Plus series.

While discussing these new products, Orlando noted:

“Garmin has launched two new devices: the vivoactive® 3 Music, which is the next iteration of the first device they launched back in November, the vivoactifrdevices.”

This statement provided a great opportunity for Orland to segue into discussing the importance of this technology expanding across other institutions, and the impact they have on quality. In fact, he claims that they extend to at least 20 countries and 130 of the largest banks in those areas. He attributes this adoption of technology to the fact that these institutions are usually the first to add it, and they have a reputation for being “innovative.”

One of the biggest banks to adapt comes from a partnering between NXT-ID and Westpac. Westpac is one of the biggest banks in Australia, and they recently added contactless payment options to many smart devices, specifically the smartwatches from Garmin. In the agreement, customers are now able to make point-of-sale purchases with any smart device that can access FitPay’s Trusted Token Manager.

This isn’t the first announcement. Recently, Chase agreed to let their Visa credit and debit cards for contactless payment in stores that have compatible terminals for purchase. Orlando commented on this change:

“By adding Chase here in the U.S., we've added a huge constituency of consumers that now have access to Garmin Pay™ and the FitPay platform.”

Orlando added to his statement, regarding the newest changes that they announced in 2017.

“We announced late last year and our wrapping-up the first iteration of development on our Flip™ product. That's a really important development because it helps to prove that currency as a transactional-based currency versus a commodity-based currency. So, it's exciting to get that product to market here really soon.”

Then, Orlando turned his attention to the crypto industry specifically. He even noted that the newness of the industry should make people understand that there are many factors that contribute to its unpredictability until it is more experienced. He also confirmed that crypto will remain important in the market, especially with NXT-ID. To wrap up this sentiment, he said:

“We should all have expected that it would continue to be volatile, particularly as the regulatory players figure out how they're going to define and deal with crypto in general,”

“For us there is no doubt that cryptocurrencies are here to stay. There's going to be various forms of those and acceptance of those. We feel like we need to be a part of that and ensure that we're staying in touch and in tune and looking for ways to innovate around those different currencies and blockchain in general.”

 

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