NXT-ID Patents Methods to Add Electronics to Make a Wallet Smart

Date : 09/02/2014 @ 10:53AM
Source : PR Newswire (US)
Stock : Nxt-ID Inc. (MM) (NXTD)
Quote : 1.38  0.0 (0.00%) @ 8:11AM

NXT-ID Patents Methods to Add Electronics to Make a Wallet Smart

NXT-ID Inc. (NASDAQ:NXTD)
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SHELTON, Conn., September 2, 2014 /PRNewswire/ -- NXT-ID, Inc. (OTCQB: NXTD), a biometric authentication company focused on the growing mobile commerce market, announced today that it has submitted a patent application for methods to integrate intelligent systems into a wallet to form a smart wallet.  This patent primarily discusses mechanical methods and approaches to add electronics to turn average wallets into smart wallets and follows an earlier patent submission by the Company for a method to replace traditional payment and identity management systems.

"This patent reinforces our intellectual property position in the mobile and wearable markets, especially in the area of smart wallets," states David Tunnell, CTO of NXT-ID.  "This invention details how various electronics, such as touch screens, buttons, batteries and microphones with voice recognition can be added to materials, providing tight integration that enhances wallet functionality."

The patent also describes methods that achieve an accessorized wallet where multiple styles of wallets can be interchangeable to the base electronics.

"One of the key achievements of this invention is the ability to accessorize the wallet with various accessory options including methods to enhance the internal electronics as well as the outer appearance," states David Tunnell.  "This feature enables users to customize their wallet by simply replacing the accessory. Users can now have a minimalistic wallet accessory to go out on a run, for instance, and simply replace it with another accessory style for dinner later that night.  We believe this achieves the world's first "accessorized wallet", and ushers in a new generation of intelligent smart wallets that not only act as a vault to protect personal information, but also act as a fashion statement for a variety of venues."

Wocket™ is a smart wallet, the next evolution following the smart phone and smart watch. NXT-ID is introducing its innovative, patent-pending Wocket™ as the next natural step in the evolution of smart devices. Wocket™ is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.

Credit, debit, ATM, loyalty, gift, ID, membership, insurance, ticket, emergency, medical, business, contacts, coupon, and virtually any card can be protected on Wocket™. More than 10,000 cards, records, coupons, etc. and 100 voice commands can also be stored on Wocket™.

Wocket™ is now available for advance ordering at www.wocketwallet.com at a price of $149.99.

The full Wocket product FAQ is available to consumers and media at

http://nxt-id.com/wocket-faq/

About NXT- ID Inc. - Mobile Security for a Mobile World

NXT-ID, Inc.'s (OTCQB: NXTD) 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' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification 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

SOURCE NXT-ID, Inc.

Copyright 2014 PR Newswire

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