NXT-ID (NASDAQ: NXTD) Chief
Technology Officer Comments on Why You Need a Smart Wallet
SHELTON, Conn. -
October 27, 2014 (Investorideas.com Newswire) NXT-ID, Inc., (NASDAQ:
NXTD), a biometric authentication company focused on
the growing mobile commerce market issues a recent blog entry from Mr. David
Tunnell, Chief Technology Officer. Mr Tunnell examines the case for a smart
wallet like Wocket™.
With the
variety of new payment solutions being released, consumers may ask which method
is best. Each new payment method has its
own attributes that promise to make payments more convenient and secure. The
good news is that none of these new payment methods are mutually exclusive to
one another. Each has its own merit depending on where it can be used. For
instance, digital wallets such as Google Wallet, Apple Pay or SoftCard
(formally ISIS) may be preferable for locations that accept NFC (Near Field
Communications), while another solution might be a better choice for locations
that require a new barcode payment system such as being developed by major
retailers like Wal-Mart, Target and Best Buy. Since none of the new payment
methods can be used universally at all locations, the question remains – do you
still need a wallet?
Most
digital wallets have one thing in common: They all are dependent upon a cell
phone. Each new payment method added to a cell phone can be advantageous,
depending on when and where you wish to make a payment, but there are always
instances where a cell-phone based payment method may not be practical. A cell
phone based payment solution may not be practical when:
- Getting
money from an ATM.
- Making
a purchase at one of the millions of retail outlets that have not yet
replaced their existing point of sale (POS) terminals with new upgraded
ones.
- Making
payments in areas with poor connectivity to the Internet.
- There
is a risk that your cell phone battery might run out.
- Bluetooth
does not pair, which may occur with certain methods that require Bluetooth
connection with the phone.
Then,
there is the issue of cash. There are still instances you may need cash or
other private information that you want to secure but can't afford to leave at
home. These are just some examples of when you may wish you had your wallet
with you.
Smart
wallets add electronics to wallets and purses so that you keep your private
information secure, only accessible by you. Smart wallets also securely store
all of your personal information, not just payment accounts. Furthermore, smart
wallets are agnostic to the payment method, capable of supporting new payment
methods as they emerge.
So, no
matter whether you choose one or more new payment methods associated with your
cell phone, there will always be a reason you wished you had a smart wallet.
We
encourage you to take a look at the features of the Wocket™ Smart Wallet and
how it might benefit not only your shopping experience, but also all aspects of
your wallet by giving you peace of mind with added security to all your
personal information.
Read this release in full at http://www.investorideas.com/CO/NXT/news/2014/10271.asp
About NXT- ID Inc. - Mobile Security
for a Mobile World: (NXTD) (NXTDW):
NXT-ID,
Inc.'s innovative MobileBio® solution mitigates consumer risks associated with
mobile computing, m-commerce and smart OS-enabled devices. The company is
focused on the growing m-commerce market, launching its innovative MobileBio®
suite of biometric solutions that secure consumers' mobile platforms led by the
Wocket™; a next generation smart wallet designed to replace all the cards in
your wallet, no smart phone required. The Wocket works anywhere credit cards
are accepted and only works with your biometric stamp of approval. www.wocketwallet.com.
NXT-ID'
wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has
22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com, http://3d-id.net.
Forward-Looking
Statements for NXT-ID:
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
reflect management's current expectations, as of the date of this press
release, and involve certain risks and uncertainties. Forward-looking
statements include statements herein with respect to the successful execution
of the Company's business strategy. The Company's actual results could differ
materially from those anticipated in these forward-looking statements as a
result of various factors. Such risks and uncertainties include, among other
things, our ability to establish and maintain the proprietary nature of our
technology through the patent process, as well as our ability to possibly
license from others patents and patent applications necessary to develop
products; the availability of financing; the Company's ability to implement its
long range business plan for various applications of its technology; the
Company's ability to enter into agreements with any necessary marketing and/or
distribution partners; the impact of competition, the obtaining and maintenance
of any necessary regulatory clearances applicable to applications of the
Company's technology; and management of growth and other risks and
uncertainties that may be detailed from time to time in the Company's reports
filed with the Securities and Exchange Commission.
Contact:
Investor
Inquiries:
Kirin Smith
ProActive Capital Group
Direct: 646 863 6519
ksmith@proactivecapital.com
Kirin Smith
ProActive Capital Group
Direct: 646 863 6519
ksmith@proactivecapital.com
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Disclosure: As of June 2014,
NXT-Id renewed for five thousand per month and average of two thousand five
hundred 144 shares (cash equivalent) for news publication and marketing of
Wocket smart wallet. More info:
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The good news is that none of these new payment methods are mutually exclusive to one another as regards Epic research.
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