Excerpt from Aite Report:
Founded in 2012
HQ in Shelton, Connecticut
On May 28, 2014, NXT-ID plans to launch its smart wallet offering, Wocket, at a press conference, after which it plans to accept pre-orders. The Wocket is a smart card that allows consumers to load up to 10,000 credit cards, debit cards, loyalty cards, gift cards, as well as many other types of cards in aggregate.
NXT-ID's focus appears to be on security, and it states the Wocket will be biometrically secure and accessible only through a combination of voice, PIN, or pattern sequences and that the smart card will be zeroed out after each transaction, making it useless to another if lost or stolen.
The Wocket will be available for US$149
The full report is available at: http://www.aitegroup.com/report/money-goes-mobile
According to the Aite Group in its report, "Money Goes Mobile" tracks the evolution of the digital wallet ecosystem, the mobile wallet's growing pains, and the success stories emerging as an industry ripe for change brings together the leaders that can create and deliver robust mobile wallet products.
Aite Group also breaks down the different types of digital wallet services that exist today, identifies the barriers for adoption, and examines the value propositions of the various technologies for the consumers, merchants, and payment providers.
The research is based on more than 20 interviews with executives and product managers within the financial technology industry from February to April 2014.
Aite Group's analysis indicates that technology companies and mobile payment providers should ensure that the user experience and loyalty or reward programs are paramount in their products in order to incentivize consumers to abandon traditional payment instruments and adopt mobile money.
Wocket™ is a smart wallet in the same vein as the smart phone and smart watch. NXT-ID is introducing its innovative, patent-pending Wocket™ as the next natural step in the evolution of smart devices. Wocket™ is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.
Credit, debit, ATM, loyalty, gift, ID, membership, insurance, ticket, emergency, medical, business, contacts, coupon, and virtually any card can be protected on Wocket™. More than 10,000 cards, records, coupons, etc. and 100 voice commands can also be stored on Wocket™.
Advance ordering will be available May 28th at http://www.wocketwallet.com/
The full Wocket product FAQ is available to consumers and media at http://nxt-id.com/wocket-faq/
Interested consumers can also sign up for product info and news alerts in anticipation of the product. http://www.wocketwallet.com/
About Aite Group
Aite Group partners with participants in the international financial services marketplace, leveraging our analysts' industry experience to challenge, to advice, and to catalyze growth through independent market research and timely consulting. Attuned to the needs and strengths of our clients, Aite Group builds bridges, brokers insight, and offers actionable advice that companies rely on to build their relationships and grow their businesses. http://www.aitegroup.com
Press release : http://www.aitegroup.com/what-customers-want%E2%80%94besides-money%E2%80%94-their-mobile-wallets
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: NXTD) 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. http://www.thewocket.com/, http://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
Media: 800 665-0411
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