American payment technology firm CPI Card Group has collaborated with contactless payments company Fit Pay to provide its embedded contactless technology Adaptives for the latter’s new contactless payment device Flip.

Currently available in the US, Flip facilitates purchases at retail locations that accept contactless payments.

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The poker chip-sized Flip is linked to Fit Pay’s digital wallet, where users can store and manage funds transferred from bank accounts and Bitcoin wallets.

CPI Card Group product management and innovation vice-president Jack Jania said: “Along with the shift to contactless payments, we’re also seeing an evolution in consumers’ relationships with their wallets. People went from paying with cash to mostly paying with cards.

“There’s significant appeal and interest in easy to carry and quick to access payment methods, and payment objects help answer that call.”

Adaptives is small in size and is also said to be cost-effective. These features are said to support the use of the technology for multiple form factors in contactless payment.

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CPI said that it integrated “Adaptives with Fit Pay’s desired form factor to produce the contactless-enabled Flip”.

NXT-ID COO and Fit Pay president Michael Orlando said: “We have always been committed to advancing payment technology, and CPI has helped us create a new contactless payment option for consumers.

“Flip represents a new way for people to make contactless purchases everyday with an inexpensive, easy to use form factor.

“We look forward to seeing the number of Flip users grow and working with CPI to bring more and more innovative contactless payment devices to market in the future.”

For loading cryptocurrencies onto Flip, they should be first converted into US dollars.