Mon. May 20th, 2019

InComm Goes IoT

Source: https://finovate.com/incomm-goes-iot/

InComm Goes IoT

Prepaid payments innovator InComm is expanding into wearables this week. The Georgia-based company announced its MyVanilla Prepaid Mastercard is compatible with Fitbit Pay and Garmin Pay.

This is the first prepaid card to work with Fitbit and Garmin; prior to today’s announcement both were limited to debit and credit cards.

“The payments industry is steadily moving toward a digital ecosystem, and we are ensuring both consumers and our retail partners are ready for this change,” said Michael Parlotto, Vice President of Emerging Technologies at InComm. “Bringing MyVanilla to Fitbit Pay and Garmin Pay allows consumers to quickly and confidently use their prepaid cards on the go.”

With the launch, consumers using the MyVanilla general purpose reloadable (GPR) prepaid card can make payments using Fitbit’s and Garmin’s mobile wallets at locations where Mastercard prepaid payments are accepted. Compatible devices include the Fitbit Charge 3, Fitbit Ionic, and Fitbit Versa; as well as the Garmin D2 Delta, Garmin fenix 5, Garmin Forerunner 645, and Garmin vivoactive 3.

The consumer’s card number is never stored on their wearable device. Rather, the device generates a unique token to process the transaction, ensuring card number secrecy in the event the watch is lost or stolen.

Along with the wearables announcement, InComm unveiled it will bring NFC capabilities to retailers in its payment network. This update will allow InComm prepaid cardholders to reload Vanilla Prepaid cards that are connected to mobile wallets by tapping their NFC-capable phone. “[O]ur launch of tap-to-reload capabilities expands our suite of payment processing tools to include full lifecycle management of the mobile payments ecosystem, from provisioning capabilities to reload processing,” said Parlotto.

InComm offers more than 500,000 points of retail distribution with 1,000+ brand partners in more than 30 countries. The company debuted CorFire Mobile Commerce at FinovateFall 2011. More recently, InComm showed off the Cashtie API at FinDEVr Silicon Valley 2014. In March, the company marked its eighth acquisition with the purchase of Linq3 Technologies.

The post InComm Goes IoT appeared first on Finovate.

Source: https://finovate.com/incomm-goes-iot/

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