MELBOURNE, Florida,
Oct. 9, 2017 /PRNewswire/ --Fit Pay,
Inc., a wholly-owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and
provider of payment, credential management, and authentication
platform services, has been selected as a finalist for the 2017
IoT Innovator Awards. The awards, which are a program of the
technology industry publication IoT Innovator, recognize
Internet of Things (IoT) businesses around the world that have made
cutting-edge developments in key vertical markets. Fit Pay has been
selected as a finalist in the "Best Cloud Platform – Consumer"
category. The final winners of the awards will be announced by
IoT Innovator on October 16,
2017.
"We are honored Fit Pay has received this recognition by IoT
Innovator – a publication with its finger on the pulse of the
latest industry developments," said Gino
Pereira, CEO, NXT-ID. "What's transformative in the IoT
market are products that seamlessly integrate technology into
peoples' lives. NXT-ID and Fit Pay are at the forefront of this
movement by enabling contactless payments and authentication on a
wide range of IoT devices and making the payment experience
frictionless for consumers."
The FitPay Payment PlatformTM is a proprietary
technology platform that delivers payment, credential management,
authentication and other secure services to the IoT ecosystem. The
platform uses tokenization, a payment security technology that
replaces cardholders' account information with a unique digital
identifier (a "token"), to transact highly secure contactless
payment and authentication services. FitPay leverages Embedded
Secure Element (eSE) chip technology within devices to offer a
payment solution that is very power and memory efficient and does
not need to refresh a token once it is issued. This frees devices
from needing to be tethered to a host device or connected to the
Internet to transact payments, creating a superior user
experience.
FitPay's end-to-end payment solution allows IoT and wearable
device manufacturers to add payment and authentication capabilities
to their products with very little start-up time, no investment in
software development and access to the leading credit card
networks. Manufacturers of 15 IoT and wearable devices are
currently integrating with the FitPay payment platform.
A complete list of the companies selected as finalists for the
2017 IoT Innovator Awards and information about the award
program, can be found at http://iotinnovator.com.
About 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. FitPay
and the FitPay Payment Platform are the sole property of Fit Pay,
Inc.
About IoT Innovator
IoT Innovator is the brainchild of WestWorldWide, LLC, a
venerable IT publisher that has been covering the best of IT since
1980. WestWorld's flagship and IoT Innovator's sister
publication, Computer Technology Review, is one of the most
respected editorial authorities in the IT industry.
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:
Corporate info: info@nxt-id.com
Media:
Chris Orlando
chris.orlando@nxt-id.com
D. Van Zant
+1-800-665-0411
press@nxt-id.com
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SOURCE NXT-ID, Inc.