That is from the old website. LAKS is the old name LAKS PAY is the new one. Here is what the new website (lakspay.com) says about the new chips:
- Unlimited reset and re-tokenization options to keep wearables in-use, even if the user changes.
- Free (Re-)tokenization with Mastercard: The wearable / chip in the field even after LoA expiration date is possible as long as the respective Issuer policies are followed and their requirements are accomplished.
- Free (Re-)tokenization with Visa: The wearable / chip in the field even after the LoA expiration date is possible as it can be (Re-)tokenized as long as needed. All this is based on Mastercard Mobile technology LAKS PAY works with the new LAKSPAY.com only.