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President and CEO of NXT-ID, Inc. (NASDAQ: $NXTD) Talks about New Flip NFC Device for Crytocurrency Consumers, Rollout of GarminPay and IoT Partnerships

Investorideas.com - NXT-ID Inc. (NASDAQ: NXTD)

 

Point Roberts, WA - February 16, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com 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/)

Listen to Podcast: http://www.investorideas.com/Audio/Podcasts/021518-NXT-ID.mp3

President & CEO of NXT-ID ($NXTD) Talks about Flip™ NFC Device for Crytocurrency Consumers, Rollout of GarminPay™ and IoT Partnerships

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 vívoactive 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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