#Tech Stocks News: Nxt-ID (Nasdaq:
$NXTD) Subsidiary FitPay® Begins Pre-order Shipments of Flip – a Contactless
Payment Device for Bitcoin
SEBASTIAN, Florida, April 3, 2019 –
(Investorideas.com) Fit Pay, Inc., a wholly owned subsidiary
of Nxt-ID, Inc. (NASDAQ: NXTD), today announced that it has begun shipments of confirmed
pre-orders of Flipรค, a new contactless payment device that enables Bitcoin
holders to exchange their cryptocurrency into U.S. dollars and use that value
to make contactless purchases at millions of retail locations. The Company expects to ramp
up full production and marketing of Flip in the first half of 2019.
Read this in full at https://www.investorideas.com/CO/NXT/news/2019/04031FitPay-PaymentDevice-Bitcoin.asp
“When we developed the concept for Flip our
goals were to create a product that more seamlessly connected cryptocurrencies
to the payment ecosystem and to demonstrate our drive to be at the leading edge
of payment technology,” said Michael Orlando, COO of NXT-ID and President of
Fit Pay, Inc. “Flip accomplishes both goals. We are very pleased consumers can
now use Flip to buy things every day. We look forward to growing the community
of Flip users over the coming months.”
Flip’s near field communication (NFC) antenna
allows it to transact payments at any retail point of sale location that
accepts supported contactless payments. Flip stores value exchanged from the
user’s compatible Bitcoin wallet into U.S. dollars. Flip includes a digital
wallet manage the exchange of Bitcoin to U.S. dollars and the loading of value
on the device. Flip does not need to be charged. Non-fiat funds (i.e.
cryptocurrency) must first be converted to U.S. dollars before those funds are
loaded onto Flip.
Consumers interested in purchasing Flip can order
the device at FliptoPay.com. The retail price for
Flip is $29. There are account and exchange fees associated with maintaining a
Flip digital wallet. Flip is currently only available in the United States. For
more information or to order Flip, visit FliptoPay.com.
About
NXT- ID, Inc. and FitPay, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform
of technology products and services that enable the Internet of Things (IoT). With
extensive experience in access control, biometric and behavior-metric identity
verification, security and privacy, encryption and data protection, payments,
miniaturization and sensor technologies, NXT-ID develops and markets
groundbreaking solutions for payment and IoT applications. Its industry-leading
technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers'
mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration
with WorldVentures. NXT-ID includes three mobile and IoT-related subsidiaries: LogicMark, LLC, a
manufacturer and distributor of non-monitored and monitored personal emergency
response systems ("PERS") sold through dealers/distributors and the
United States Department of Veterans Affairs; Fit Pay, Inc., a proprietary technology
platform that delivers end-to-end solutions to device manufacturers for
contactless payment capabilities, credential management, authentication and
other secure services within the IoT ecosystem, and 3D-ID LLC, which is engaged in biometric
identification and authentication. Learn more about NXT-ID at www.nxt-id.com. NXT-ID
Inc. Corporate Contact: info@nxt-id.com. FitPay
and the FitPay Payment Platform are trademarks of Fit Pay, Inc.
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.
Media Contacts:
Chris Orlando
+1-760-468-7273
D. Van Zant
+1-800-665-0411
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