MELBOURNE, Florida,
June 28, 2018 /PRNewswire/ --
Fit Pay, Inc., a wholly owned
subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today provided an update
on the development of Flip™, a new contactless payment device that
enables Bitcoin holders to use the value of their currency to make
contactless purchases at millions of retail locations.
Michael Orlando, COO of NXT-ID
and President of Fit Pay, Inc. provided the following product
update on Flip: "We are very excited to report that the initial
production run of the Flip payment device as well as the end-to-end
testing of the digital wallet and Bitcoin exchange integration to
enable the device have all been completed. This represents
tremendous progress in bringing this unique cryptocurrency payment
device to market."
"Because Flip is a brand-new payment device, it requires card
network and bank approval. We have been working hard to secure
those approvals and now expect to ship the initial pre-orders
within the coming weeks and go into mass production soon
after."
Flip's near field communication (NFC) antenna allows it to
transact payments at any retail point of sale location that accepts
contactless payments. Flip stores a preloaded amount of U.S.
dollars that are exchanged from the user's existing Bitcoin
account. Flip 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.
Consumers interested in purchasing Flip can pre-order the device
at https://www.fliptopay.com/ . The retail price for Flip is
$29 with standard shipping included.
There are account and exchange fees associated with maintaining a
Flip digital wallet. Flip is currently only available in
the United States. For more
information or to order Flip, visit https://www.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 https://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.
Media Contacts:
Chris Orlando
chris@fit-pay.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc.