NXT-ID (Nasdaq: $NXTD) Subsidiary Fit Pay Now Taking Pre-Orders for FlipTM – a Contactless Payment Device for Cryptocurrencies
NXT-ID (Nasdaq:
$NXTD) Subsidiary Fit Pay Now Taking Pre-Orders for FlipTM – a
Contactless Payment Device for Cryptocurrencies
MELBOURNE, Florida, February
22, 2018 – (Investorideas.com Newswire) Fit Pay, Inc., a wholly
owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced that it
is now accepting pre-orders for FlipTM, a new contactless payment device
that will enable cryptocurrency holders to use the value of their currency to
make purchases at millions of retail locations. The new device, which was announced earlier this month, uses value
exchanged from cryptocurrency to make traditional payment transactions. Pre-order
Flip at www.FliptoPay.com.
“Flip represents an exciting expansion of the FitPay Payment
Platform by connecting cryptocurrencies to the payment ecosystem,” said Michael
Orlando, COO of NXT-ID and President of Fit Pay, Inc. “We founded Fit Pay to
fundamentally change the payment experience, and making contactless payments
with cryptocurrency is a big step toward that goal.”
Flip’s near field communication (NFC) antenna allows it to
transact payments at any retail point of sale location that accepts contactless
payments. Flip will store a preloaded amount of U.S. dollars that are exchanged
from the user’s existing cryptocurrency account. It includes a digital wallet
that allows the user to set how much value they would like their Flip to hold
and when they would like it to reload. Flip does not need to be charged. Initially,
Flip will accept value exchanged from Bitcoin and will potentially expand to
other cryptocurrencies in the future.
“Flip’s coin-shaped form factor and distinctive coloring are
definitely attention grabbing,” said Orlando. “Early adopters who are already
into Bitcoin, can now pre-order Flip and be among the first to make a
contactless payment with their cryptocurrency.”
“NXT-ID’s expansion into the cryptocurrency space is a natural
extension of our leading edge fintech capabilities,” said Gino Pereira, CEO of
NXT-ID. “In addition to helping make crypto currencies more usable on a daily
basis we are also pursuing applications for blockchain technology in our core
payment and healthcare businesses.”
Consumers interested in purchasing Flip can pre-order the device at
FliptoPay.com. The retail price for Flip is $29 with standard shipping included.
There are account and exchange fees associated with maintaining a Flip digit wallet.
Initial deliveries expected in the second quarter of 2018. Customers will only
be charged when the product is shipped to them. Flip is currently only
available in the United States. For more information, visit FliptoPay.com.
NXT- ID,
Inc. and Fit Pay, 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.
D. Van Zant
1.800.665.0411
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