Fit Pay Inc., a provider of payment, credential management, and authentication platform services, will offer prepaid capabilities on wearable devices connected to the Fit Pay Payment Platform.

The general purpose reloadable program, The FitPay Prepaid MasterCard, will give consumers with Fit Pay's contactless payment-enabled devices the ability to store funds in an account tied to their device, according to a press release. Fit Pay Inc. is a wholly owned subsidiary of NXT-ID Inc.

"Adding reloadable prepaid capabilities is a new feature for devices on our platform and makes our payment enablement services available on a wider range of form factors," Michael Orlando, president of Fit Pay COO of NXT-ID, said in the release.

The FitPay prepaid MasterCard option will be available to device OEMs that integrate their products with the Fit Pay platform. The new feature enables consumers to load their Fit Pay-enabled Internet of Things or wearable device with a prepaid value for contactless purchases. A digital wallet enables the user to reload the account, set top-off thresholds and manage the account settings.