NXT-ID, Inc. (NASDAQ:NXTD) Announces Agreement
with Wallaby Financial; Wallaby Members Offered NXT-ID‘s Wocket Smart Wallet as
an All-in-One Card Secure, Convenient Payment Solution
New Partnership Brings Wallaby Members The Best of Both Worlds
OXFORD, Conn. - May 4, 2015
(Investorideas.com Newswire) NXT-ID, Inc. (NASDAQ: NXTD), a biometric authentication company focused on the
growing mobile commerce market announces a new relationship with Wallaby Financial,
a subsidiary of Bankrate, Inc. (RATE) and a recognized leader in mobile and
web-based credit card optimization solutions.
The Company announced this week
that it’s Wocket® Smart Wallet will commence shipping to pre-order customers
the first week of May, 2015 and will be fulfilling all paid pre-orders through
the month of May.
Under the terms of the agreement,
NXT-ID's Wocket® Smart Wallet will become the preferred wallet solution to
Wallaby Card Beta List members. The Wocket Wallet and card will offer members
the all-in-one card convenience and security envisioned in the Wallaby Card
together with enhanced features provided by Wocket. In addition, NXT-ID will
integrate Wallaby's Wallet-as-a-Service and CardBase API products to bring deep
analytical intelligence to consumer wallets in future products.
More than 30,000 Wallaby
Financial customers currently on the Wallaby Card waiting list will receive
special invitation e-mails to buy a Wocket Smart Wallet and will receive both
priority status and a guaranteed price over the next 45 days, as Wocket
re-opens sales to consumers, following delivery of its pre-orders.
Wocket is concluding shipping of
its pre-orders to prepaid customers during the month of May and opening sales
to its list of registered consumers in June, followed by full-scale release to
the general public.
Matthew Goldman, Founder and
Chief Executive Officer of Wallaby Financial, said, "Our customers love
the convenience that Wallaby offers them, but the missing piece has been having
all their cards available when they need them. We are excited about this
partnership with Wocket because it allows our members to carry all of their
membership, payment, rewards, gift cards, and more with just a single card.
We're thrilled to give our members an advanced opportunity to enjoy the
benefits of Wocket alongside our own solutions."
Gino Pereira, Chief Executive
Officer of NXT-ID, said, "Wallaby has an amazing technology and a proven
product that helps its members with everyday card selection. Wocket is a great
match for Wallaby users because now they can pair the benefit of maximizing
rewards with the convenience of having all their cards with them."
Mr Pereira went on to say,
"The partnership made perfect sense to both of us and we are working on a
strong pipeline of new offerings to improve the lives of our customers. Users
will get the best of both worlds - advanced personal security and real time
optimized card selection."
Wocket is a self-contained vault!
Many products on the market rely on a smartphone, app and internet connection.
Wocket is not dependent on any other device, so no matter what the situation
you can always use your wallet. However, Wocket can communicate with your phone
or tablet using the Wocket app as a way to manage your account, and update its
firmware.
About Wallaby Financial Inc.
Wallaby Financial
("Wallaby") is the leader in credit card data and consumer financial
information applications. Powered by CardBase™, a proprietary database of more
than 2,500 credit card profiles, and Wallaby's unique real-time optimization
algorithms, Wallaby's product suite helps consumers to earn more rewards and
save more money. Wallaby informs consumers about which card to use when
shopping, and helps them find the best credit card to add to their wallets by
taking into account rewards, fees, interest rates, and other financial data.
Wallaby products are available for Web, iPhone, Android, wearables, and more.
For more information, please visit https://www.walla.by. Stay connected with Wallaby on Facebook or on
Twitter @wallabycard. Wallaby is a subsidiary of Bankrate, Inc. (RATE).
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.
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