July 27, 2011 06:00 AM Eastern Daylight Time
-- VITA Products, The Bancorp Bank and Visa Launch Contactless Payment Bracelet --
PHILADELPHIA--(BUSINESS WIRE)--VITA Products, Inc., a company offering a first-of-its-kind identification and contactless payment platform, announced the launch of its payments and identification program using Visa’s payWave-enabled contactless payment chip. The program showcases the VITAband, the first in VITA Products Inc.’s line of wearable accessories that store emergency contact and medical information, while offering contactless payment functionality.
“VITAband has broken new ground in the consumer electronic category by combining both access to digital health records as well as a payment capability in one, streamlined device”
The VITAband has an embedded micro-chip that can facilitate contactless transactions at thousands of retailers across the country with the simple wave of the wrist at point-of-sale terminals equipped with contactless functionality. VITAband users are issued a prepaid account that is enabled by Visa’s contactless payment technology, Visa payWave. Transactions are debited from the prepaid card account each time the VITAband is waved in front of a contactless payment terminal.
“We found contactless payments the ideal application for consumers on the go,” said David Waxman, CEO and Co-Founder of VITA Products, Inc. “This program is an indication of the growing potential and benefits of contactless payment. Just as ATM machines were first considered an anomaly, this looks to be the next breakthrough currency platform.”
The VITAband will initially be available for sale online through www.VITAband.net.
“VITAband has broken new ground in the consumer electronic category by combining both access to digital health records as well as a payment capability in one, streamlined device,” said Jason Brown, President and Co-Founder of VITA Products, Inc.
VITAband Visa Prepaid Chip is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC.
Obtaining Your Card: The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to reasonably identify you. We may also ask to see your driver's license or other identifying documents at any time.
About VITA Products
Launched Spring 2011, VITA Products combines innovative contactless payment technology and the strength and safety of a personal health network into a convenient, wearable line of accessories known as VITAforms, which are customizable to individual style. VITA Products provide access to information in case of emergency through an emergency response profile and offers access to petty cash with a contactless payment system all in a sleek, comfortable accessory that’s perfect for anyone on the go. The company’s debut VITAform, the VITAband, is the first-of-its-kind bracelet for an active lifestyle. VITA Products are sold online at www.VITAband.net.
About The Bancorp Payment Solutions Group
The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc., offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.
Contacts
Smack! Media
Shanna Burnette, 303-601-5177
shanna@smackmedia.com
or
Elisette Carlson, 858-735-2711
elisette@smackmedia.com
Shanna Burnette, 303-601-5177
shanna@smackmedia.com
or
Elisette Carlson, 858-735-2711
elisette@smackmedia.com
