Breaking Tech News: NXT-ID (Nasdaq:NXTD; NXTDW) Patents Voice Directed Payments
OXFORD, CT - February 23, 2015 (Investorideas.com Newswire) NXT-ID, Inc. (NASDAQ: NXTD), a biometric authentication company focused on the growing mobile commerce market, announced today that it has filed provisional patent 62114357 for
DISTRIBUTED VOICE DIRECTED PAYMENT METHOD AND SYSTEM.
With this patent, NXT-ID introduces a new groundbreaking payment method. Payment accounts may be selected via voice recognition and the payment account may only be accessed if both the speech (the word associated with the payment account) and the speaker (a biometric) are both recognized. Once recognized, payment is directed to an appropriate interface, such as Magnetic Stripe Emulation (MSE), Near Field Communication (NFC), or other interface to perform the payment with the selected account. The patent also introduces the concept of "voice cards", which are alias names given by a user to describe specific private information such as credit and debit cards, further enhancing security as well as convenience.
"We are very excited to offer this new convenient and secure method to make payments", says David Tunnell, Chief Technology Officer of NXT-ID. "We've all been there – Waiting in line as we fumble through our wallets to fine the right card or information. With this invention, we not only secure your data by recognizing you are who you say you are from your voice, but we also provide an extremely convenient way for you to select how you wish to pay."
Like most of NXT-ID's patents, this technology works with current Point-of-Sale (POS) technologies such as NFC and Magnetic Stripe, but also can enhance the existing POS with added security as well as provide a path for more convenient and more secure future payment technologies.
"Convenience to access your private data is just as important as securing your private data", adds David. "With this invention, you may simply ask for a specific payment account and the account is programmed to an appropriate emulator that emulates the account selected. To make it even more convenient, the voice may be recognized and emulated on the same device, such as a cell phone or our Wocket smart wallet, or recognized on one device and directed to another device such as a watch or a reprogrammable smart card like our WocketCard to then make the payment. In addition, the ability to name your account further protects your information since no one knows which card you are choosing. For instance, no private information is revealed if you say "grocery card" or "gas card number 3". You know the account you are choosing, but no one else does."
Read this release in full at http://www.investorideas.com/CO/NXT/news/2015/02241.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 Wocket™; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. Wocket was recognized as one of the top technology products at CES 2015 by multiple media outlets including Wired.com. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification and 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.
Corporate info: firstname.lastname@example.org
D. Van Zant
More info on NXTD at Investorideas.com Visit: http://www.investorideas.com/CO/NXT/
Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: As of January 1, 2015 NXT-Id renewed for five thousand per month and long 144 shares for media and PR services and news publication. More info: http://www.investorideas.com/About/Disclaimer.asp and http://www.investorideas.com/About/News/Clientspecifics.asp
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
Become an Investorideas.com Member and access our 14 online stock directories 24/7 – biometrics, technology, mining stocks and more...