President and CEO of NXT-ID, Inc. (NASDAQ: $NXTD) Talks about New Flip NFC Device for Crytocurrency Consumers, Rollout of GarminPay and IoT Partnerships
President and CEO of NXT-ID, Inc. (NASDAQ: $NXTD) Talks
about New Flip NFC Device for Crytocurrency Consumers, Rollout of GarminPay and
IoT Partnerships
Point Roberts, WA - February 16, 2018 – Investorideas.com, a
leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com,
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issues an exclusive podcast interview with Gino M. Pereira, the President and
CEO of NXT-ID, Inc. (NASDAQ: NXTD).
Gino discusses the company’s overall
business strategy, its subsidiaries LogicMark, LLC and Fit Pay, Inc. and how the company’s payment
technology has evolved from the Wocket to flye and now Flip, its new
contactless payment device created for the cryptocurrency market. (https://www.fliptopay.com/)
NXT-ID Inc.’s upcoming Flip™ will enable
customers to pay with bitcoin wherever near field communication (NFC) payment
options are accepted, according to company President and CEO, Gino Pereira.
“Flip is a product under which we provide a
crypto-wallet, that individuals can deposit bitcoin,” he said. “That bitcoin is
converted into what is essentially a prepaid debit card, that is then available
for use to spend as cash anywhere that accepts NFC payments.”
Flip, which will operate on NXT-ID’s FitPay
platform, will initially only support bitcoin and the U.S. dollar. Pereira said
the company plans to expand to other options after the rollout, however.
“For the rollout we accept bitcoin and the
currency we accept is U.S. dollars,” he said. “We anticipate that that will
widen as we go forward with our development but our initial offering is limited
to U.S. currency and bitcoin.”
“We will be announcing the exact date a
little later on but we anticipate taking pre-orders in February. We anticipate
delivering the product before the end of the first half of this year.”
While acknowledging their current
instability, Pereira said the technological ideas ushered in by cryptoassets
have consolidated their place in the payment world.
“There’s obviously a lot of volatility and
it’s very early on so there are a number of question marks over it,” he said,
“but with the basic concept of blockchain and security, and as such
cryptocurrencies, we believe they are here to stay as part of the overall
payment ecosystem.”
“We desire to be a complete solution for
customers, whether it’s regular currency or cryptocurrency and so we aim to
provide them with capability to securely use all those methods of payment.”
Gino also shares recent developments with
FitPay’s proprietary technology platform that adds contactless payment
capabilities to wearable and IoT devices and the rollout of the Garmin
vÃvoactive 3 smartwatch powered by the FitPay Platform.
Additionally, Pereira said NXT-ID will be
introducing more IoT partnerships.
“We have a number of other arrangements
with IoT manufacturers which will probably be announced as they’re closer to
launching their products,” he said. “We do have a good number of relationships
in the pipeline.”
About NXT- ID, 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.
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