NXT-ID (NasdaqCM: NXTD) Patents Behavior-Directed
Payments
OXFORD,
Conn. - July 13, 2015 (Investorideas.com Newswire) NXT-ID, Inc. (Nasdaq:NXTD; NXTDW) ("the
Company" or "NXT"), a biometric authentication company focused
on the growing mobile commerce market, announced today that it has filed
provisional patent 62/188684 for BEHAVIORAL-DIRECTED AUTHENTIATION METHOD AND
SYSTEM.
NXT-ID
achieves another new convenient and secure method to make payments. With this
patent, NXT-ID further expands new, innovative payment methods, introduced with
its groundbreaking voice-direct payment patent application, with
behavior-directed payments by introducing a new class of authentication called
"behavior-metrics".
"Like
voice-directed payments where you can simply say to pay, this invention enables
you to draw to pay," says David Tunnell, CTO of NXT-ID. "Users are
very familiar with typing a PIN or drawing a pattern to access a device. Soon,
they can also choose a payment account using the same methods they use to
authenticate with a device."
This
new technology recognizes both the individual (something you are) and the
action (something you know). Behavior-metrics may include, facial expressions,
gesture movements, patterns drawn, or even PINs - virtually any motion, sound,
or other behavior that can be detected by sensors and combine physiological
features unique to a person, such as biometrics, with some unique action, such
as behavior, that can be chosen by a user.
"Convenience
is just as important as security", adds Mr. Tunnell. "Another key
advantage of behavior-metrics is that they enable accessibility. Like directing
payment by simply asking for a word that is associated with an account, users
may simply perform a gesture or draw a pattern without having to view a
display, enabling a method to pay for those with disabilities such as impaired
vision."
Behavior-metrics
simplify selecting a payment by combining it with the same authentication used
to access a device. No more flipping through wallets or purses to find a
payment card, or even through apps to select a payment account. A payment,
loyalty, or any account can be selected quickly, immediately as the user
authenticates with a device. This invention will enable mobile and wearable
devices to improve both the security and convenience of performing mobile
payments and will be available on Wocket® in the future.
Wocket® is the smartest wallet you'll ever own. Designed to
protect your identity and replace your old wallet, simply swipe and save your
cards into Wocket once and they are immediately secured with pin and biometric
voice print technology. Without ever needing a smartphone, you can choose a
card from the touch screen and Wocket programs its single, smart card (Wocket
Card) to match your selection. From there, you just swipe as you normally would
virtually anywhere that credit cards are accepted today.
All your credit, debit, loyalty, gift, ID,
membership, insurance, medical information, passwords, and virtually any other
information can be protected on Wocket®.
Product images are available for media at: http://press.nxt-id.com
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.
Contacts:
Media:
D. Van
Zant
+1-800-665-0411
press@nxt-id.com
+1-800-665-0411
press@nxt-id.com
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