Navigation Links
Media Alert; NXT-ID Chief Technology Officer Comments on Why You Need a Smart Wallet
Date:10/27/2014

SHELTON, Conn., Oct. 27, 2014 /PRNewswire/ -- NXT-ID, Inc. (NASDAQ: NXTD and NXTDW) ("NXT-ID" or the "Company"), a biometric authentication company focused on the growing mobile commerce market issues a recent blog entry from Mr. David Tunnell, Chief Technology Officer. Mr Tunnell examines the case for a smart wallet like Wocket™.

With the variety of new payment solutions being released, consumers may ask which method is best? Each new payment method has its own attributes that promise to make payments more convenient and secure. The good news is that none of these new payment methods are mutually exclusive to one another. Each has its own merit depending on where it can be used. For instance, digital wallets such as Google Wallet, Apple Pay or SoftCard (formally ISIS) may be preferable for locations that accept NFC (Near Field Communications), while another solution might be a better choice for locations that require a new barcode payment system such as being developed by major retailers like Wal-Mart, Target and Best Buy. Since none of the new payment methods can be used universally at all locations, the question remains – do you still need a wallet?

Most digital wallets have one thing in common: They all are dependent upon a cell phone. Each new payment method added to a cell phone can be advantageous, depending on when and where you wish to make a payment, but there are always instances where a cell-phone based payment method may not be practical.  A cell phone based payment solution may not be practical when:

  • Getting money from an ATM.
  • Making a purchase at one of the millions of retail outlets that have not yet replaced their existing point of sale (POS) terminals with new upgraded ones.
  • Making payments in areas with poor connectivity to the Internet.
  • There is a risk that your cell phone battery might run out.
  • Bluetooth does not pair, which may occur with certain methods that require Bluetooth connection with the phone.

Then, there is the issue of cash. There are still instances you may need cash or other private information that you want to secure but can't afford to leave at home. These are just some examples of when you may wish you had your wallet with you. 

Smart wallets add electronics to wallets and purses so that you keep your private information secure, only accessible by you. Smart wallets also securely store all of your personal information, not just payment accounts. Furthermore, smart wallets are agnostic to the payment method, capable of supporting new payment methods as they emerge.

So, no matter whether you choose one or more new payment methods associated with your cell phone, there will always be a reason you wished you had a smart wallet. 

We encourage you to take a look at the features of the Wocket™ Smart Wallet and how it might benefit not only your shopping experience, but also all aspects of your wallet by giving you peace of mind with added security to all your personal information.

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 the Wocket™; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com

NXT-ID's wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification that 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.

Contact:

Corporate info: info@nxt-id.com
Investor Inquiries: Kirin Smith
ProActive Capital Group
Direct: +1-646-863-6519
ksmith@proactivecapital.com
Media: 800-665-0411
dvanzant@investorideas.com


'/>"/>
SOURCE NXT-ID, Inc.
Copyright©2014 PR Newswire.
All rights reserved

Related biology news :

1. G protein-coupled receptor mediates the action of castor oil
2. NineSigma Launches NineSights, the Worlds First Open Innovation Social Media Destination for Innovation Seekers and Solution Providers
3. Media registration opens for Neuroscience 2012, worlds largest brain science meeting
4. Evermedia Group Announces 375% Increase in Revenue for Second Quarter 2012
5. Medbox, Inc. Releases Demo Video and Collateral Media Concerning How Their Systems Will Be Used in Massachusetts Medical Marijuana Dispensaries
6. Outside a vacuum: Model predicts movement of charged particles in complex media
7. Medbox, Inc. Featured in Multiple Media Stories in Massachusetts and California
8. BodyMedia & FitOrbit Up the Ante in Personalized Weight Loss
9. New report finds increase in media coverage of synthetic biology
10. Media invited: Biophysical Society Annual Meeting
11. Monitoring and robust induction of nephrogenic intermediate mesoderm from human iPSCs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/11/2017)... Research and Markets has announced the addition of the ... ... grow at a CAGR of 30.37% during the period 2017-2021. ... prepared based on an in-depth market analysis with inputs from industry ... over the coming years. The report also includes a discussion of ...
(Date:4/11/2017)... MELBOURNE, Florida , April 11, 2017 ... "Company"), a security technology company, announces the appointment of independent ... John Bendheim to its Board of Directors, furthering the ... ... behalf of NXT-ID, we look forward to their guidance and ...
(Date:4/5/2017)... Allen Institute for Cell Science today announces the launch ... dynamic digital window into the human cell. The website ... deep learning to create predictive models of cell organization, ... suite of powerful tools. The Allen Cell Explorer will ... resources created and shared by the Allen Institute for ...
Breaking Biology News(10 mins):
(Date:5/23/2017)... ... May 22, 2017 , ... NetDimensions has ... the Aragon Research Globe™ for Corporate Learning, 2017. , Aragon Research defines Leaders ... demand, and effectively perform against those strategies. NetDimensions’ ranking as a Leader due ...
(Date:5/23/2017)... MA (PRWEB) , ... May 23, 2017 , ... ... sources for advanced technology applications, has announced a facility expansion to accommodate its ... 3,000 square feet of new workspace and renovation of the existing areas. The ...
(Date:5/23/2017)... , ... May 23, 2017 , ... Cambridge Semantics ... splash at this year’s Bio-IT World Conference and Expo in Boston May ... Lake® 4.0 solution. The Anzo Smart Data Lake is also a finalist for ...
(Date:5/22/2017)... ... May 22, 2017 , ... ... other leaders of the Maryland Biohealth community in developing and issuing recommendations to ... 3 U.S. BioHealth Innovation Hub by 2023. , The recommendations ...
Breaking Biology Technology: