FinancialNewsMedia.com

FinancialNewsMedia.com
Professional News Dissemination Services

Thursday, February 26, 2015

Ground Breaking Patent Announcement for Voice Directed Payment Platform Coupled With a New Deal With Major Carriers Sets up Significant Changes in Smart Wallet Industry

CORAL SPRINGS, Florida, - (http://www.financialnewsmedia.com News Alert) - Biometric advancements lead to the latest convenience access for consumers jumping into the Smart Wallet market with ground breaking payment methods for mobile commerce sector from Tech leaders such as by NXT-ID, Inc. (NASDAQ: NXTD). And to compete with Apple Pay (NASDAQ: AAPL) Google (NASDAQ: GOOG) has struck deals to have Google Wallet pre-installed on Andriod phones with Verizon (NYSE:VZ), AT&T (NYSE:T).

NXT-ID, Inc. (NASDAQ: NXTD) and (NXTDW), a biometric authentication company focused on the growing mobile commerce market, announced today that it has filed provisional patent 62114357 for DISTRIBUTED VOICE DIRECTED PAYMENT METHOD AND SYSTEM. With this patent, NXT-ID introduces a new groundbreaking payment method. Payment accounts may be selected via voice recognition and the payment account may only be accessed if both the speech (the word associated with the payment account) and the speaker (a biometric) are both recognized. Once recognized, payment is directed to an appropriate interface, such as Magnetic Stripe Emulation (MSE), Near Field Communication (NFC), or other interface to perform the payment with the selected account. The patent also introduces the concept of "voice cards", which are alias names given by a user to describe specific private information such as credit and debit cards, further enhancing security as well as convenience. Read the full NXTD press release at http://www.financialnewsmedia.com/profiles/nxtd.html

"We are very excited to offer this new convenient and secure method to make payments", says David Tunnell, Chief Technology Officer of NXT-ID. "We've all been there - Waiting in line as we fumble through our wallets to fine the right card or information. With this invention, we not only secure your data by recognizing you are who you say you are from your voice, but we also provide an extremely convenient way for you to select how you wish to pay."

Like most of NXT-ID's patents, this technology works with current Point-of-Sale (POS) technologies such as NFC and Magnetic Stripe, but also can enhance the existing POS with added security as well as provide a path for more convenient and more secure future payment technologies.

NXT-ID's New Voice Activation announcement received major news coverage this week as more learned of the latest Patent developments.

- Patent filed for voice-directed payment system
http://www.ctpost.com/news/article/Patent-filed-for-voice-directed-payment-system-6100072.php

- Credit Card Voice Activation Coming Soon Thanks To Smart Wallet Maker http://www.idigitaltimes.com/credit-card-voice-activation-coming-soon-thanks-smart-wallet-maker-417205

- Mobile Pay Tech Lets Users Say To Pay http://www.pymnts.com/news/2015/mobile-pay-tech-lets-users-say-to-pay/#.VOyX-9hMvcs

- New smart wallet requires a biometric signature to make payments http://uk.blastingnews.com/tech/2015/01/new-smart-wallet-requires-a-biometric-signature-to-make-payments-00230253.html

In other Smart Wallet news and developments: As mentioned earlier, Google (NASDAQ: GOOG) has struck deals with Verizon (NYSE:VZ), AT&T (NYSE:T), and T-Mobile (NYSE:TMUS) to have the Google Wallet payments app pre-installed on Android phones sold by the carriers, starting later this year. The Web giant is also "acquiring some exciting technology and intellectual property" from the carriers' Softcard payments JV, which never fully got off the ground. TechCrunch reported of Google's interest in Softcard last month. Thus far, Wallet's adoption has been hurt by limited support from carriers - Sprint was the only major U.S. backer - and retailers, as well as consumer reluctance to embrace NFC-based payments. However, the launch of (NFC-based) Apple Pay, along with the broader rollout of NFC-capable terminals and chip-and-PIN payment systems (they make card swipes a little less convenient) is altering the landscape

The deal comes a few days after top Android OEM Samsung big announcement of a creator of a mobile payments solution that works with standard card-swipe terminals. - Mobile payments plays include NFC reader maker On Track Innovations (NASDAQ: OTIV) and payment-processing/telemetry services provider USA Technologies (NASDAQ: USAT). Read this full article athttp://seekingalpha.com/news/2317516-google-strikes-mobile-payments-deals-with-u-s-carriers

FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at http://www.financialnewsmedia.com/. Follow us on Facebook: http://www.facebook.com/financialnewsmedia and Twitter: http://twitter.com/FNMgroup.


Contact Information: Company: FN Media Group, LLC Contact email: editor@financialnewsmedia.com U.S. Phone: +1(954)345-0611 URL: http://www.financialnewsmedia.com

SOURCE FN Media Group, LLC

FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated one thousand four hundred dollars for news coverage of the current press release issued by NXT-ID, Inc. by the company. FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

No comments:

Post a Comment