SoundView Research Update; Real-World Usage and Feedback of
NXT-ID's (Nasdaq:NXTD; NXTDW) Wocket Smart Wallet at CVS, Whole Foods and Other
Retailers
BOSTON,
MA - March 24, 2015 (Investorideas.com Newswire) SoundView Technology Group
issues a new research update following the recent shipment of NXT-ID's (NASDAQ: NXTD; NXTDW) Wocket smart wallet. SoundView was one of
the selected user groups to provide real-world user feedback on their
experience with the Wocket in multiple scenarios and outlets.
Soundview
shares their experience at CVS, Whole Foods and other retailers, making both
debit and credit card payments.
NXT-ID,
Inc. (NASDAQ: NXTD) (http://www.nxt-id.com/) is a biometric authentication company
focused on the growing mobile commerce market.
Excerpt: The Wocket
Arrives
KRIS TUTTLE
KRIS TUTTLE
Company Update
After
months of hard work and anticipation the Wocket has shipped. This event
addresses the first chorus of skeptics who have insisted that "the Wocket
will never ship." Even within the limits of an "early access device"
our initial testing has gone very well in outlets ranging from CVS to Whole
Foods to Panera using Visa (in both debit and credit mode) as well as American
Express cards.
So
the most interesting real-world interaction occurred in a CVS where the
"hand card to cashier" message popped up. I had prefaced my swipe
with the comment that I was using "a new ultra secure credit card"
and when I handed over she responded "oh is this one of those cards where
you can store all your cards on?" To which I replied yes indeed and she
simply said "cool" and handed it back.
Even
after a few days of use I was comfortable with the Wocket to head out for an
evening without my wallet -- just a few dollars in cash and my license. Having
misplaced my wallet a week or two ago I can also say that the anxiety level
from misplacing your Wocket is much, much lower. I wouldn't want to lose my
Wocket but would feel none of that fear and panic that comes from losing my
wallet with "everything in there." In fact by having all the plastic
cards safely at home I wouldn't actually lose anything or need to change out
all my cards to new account numbers. Getting a new Wocket and reloading the
cards would be minor job but far less than cancelling accounts, refuting
fraudulent charges and having new cards issued.
Anecdotes
are not rigorous market research but the awareness level of the technology was
a surprise and comfort level with the thing itself was reassuring. NXT-ID is
using the input from early access users while preparing for their first
production run to begin to fill pre-orders beginning in late April. The next
production milestone is to deliver between 5,000 and 10,000 units in June.
The
progress over the last two months certainly makes us feel comfortable with our
40,000 unit estimate for 2015 in terms of production capability.
Our
full update is available for download here:
Wocket
is a smart wallet designed to protect your identity and replace all the cards
in your wallet, with no smart phone or cloud required. Wocket works anywhere
credit cards are accepted and only works with your biometric stamp of approval.
All
your credit, debit, loyalty, gift, ID, membership, insurance, tickets, medical
information, passwords, and virtually any other card can be protected on
Wocket.
About SoundView Technology Group
We
are an independent advisory and research firm specializing in emerging
technologies as they reach commercialization. Our proprietary research and
modeling work provides valuable information for company management teams and
investors in these emerging opportunities. We regularly publish our findings
across a variety of channels including all the major retail and institutional
information outlets. SoundView is based in Boston, Massachusetts with locations
in New York and Connecticut.
Disclosures
SoundView
analysts do not receive compensation for their research opinions, any specific
views or conclusions. They are tasked to provide fact-based research with sound
analysis. SoundView does not provide investment advice or make
"buy/sell/hold" recommendations. Nor do we provide investment banking
or brokerage services. We act as a publisher of our own research work and are
responsible for all content which is correct to the best of our abilities but
by no means should it be relied upon without further validation and
confirmation. SoundView provides paid advisory services NXT-ID on their
business plans, technology description and investor positioning
Contact:
Any
questions please contact:
Kris
Tuttle
Director of Research
SoundView Technology Group
617-828-6462
Director of Research
SoundView Technology Group
617-828-6462
Published at Investorideas.com
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