NXT-ID, Inc. (Nasdaq:NXTD) Rolls out NFC Enabled Wocket Smart Wallets for 2016
Melbourne FL, January 25, 2016 --
NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a company focused on the growing
mobile commerce market, announces that effective January 2016, all Wockets sold
will be enabled with NFC (Near Field Communication) payment technology.
As new partnerships with financial
institutions are completed, Wocket owners will be notified when they can make
NFC payment transactions. This
will require a software upgrade through the Wocket app. Gino Pereira, CEO of NXT-ID explains “The next generation Wockets are
NFC enabled for payments like Apple Pay or Google Pay. It works as they do when
you tap your Wocket to a terminal and it takes your payment. In 2016 we
envision several product extensions for Wocket including NFC only Wockets and a
new smartcard and app product all at different price points for various
customer needs and preferences.”
This technology was
previewed at the Consumer Electronics Show (CES) in Las Vegas earlier this
month along with a new contactless method of making Wocket payments at
unmodified point of sale terminals that normally can only accept magnetic
stripe cards.
NXT-ID Director Stanley Washington, who spent 17
years as a senior executive at American Express, commented while attending CES,
“This is a very exciting period for NXT-ID. The Company has a technology platform that can make
payments by multiple methods to suit consumer preferences in a number of
different form factors. This makes the technology appealing to strategic
partners from financial institutions to makers of devices that would like to
incorporate payment technology.”
According to Zion Research and their new
report, “Mobile Wallet (NFC and Remote
Payment) Market: Global Industry Perspective, Comprehensive Analysis and
Forecast, 2014 - 2020” , global demand for mobile wallet market was valued at
USD 500 billion in 2014 and is expected to reach USD 2,500 billion in 2020,
growing at a CAGR of approximately 30% between 2015 and 2020.
Read this release in full at http://www.investorideas.com/CO/NXT/news/2016/01251.asp
Wocket® is the smartest wallet you'll ever own.
Designed to protect your identity and replace your old wallet, simply save your
cards into Wocket once and they are immediately secured. You can choose a card
from the touch screen and Wocket programs its single, smart card (Wocket Card)
or uses its NFC touch to pay technology to match your selection. Your Wocket
can be used virtually anywhere that credit cards are accepted today. Wocket can
also display a variety of barcodes.
All your credit, debit, loyalty, gift, ID,
membership, insurance, medical information, passwords, and virtually any other
information can be protected on Wocket®.
About NXT- ID Inc. - Mobile Security for a Mobile World
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 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. 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.
NXT- ID Inc Contact:
Media:
D. Van Zant
800 665-0411
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