CPI Group

CPI Card Group® and Fit Pay® Collaborate on Contactless Payment Objects

LITTLETON, Colo.–(BUSINESS WIRE)–CPI Card Group Inc. (Nasdaq: PMTS, TSX: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced a collaboration with Fit Pay, Inc., a leader in the contactless payments space and subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD). Fit Pay selected CPI’s embedded contactless technology, Adaptives™, to power contactless transactions for Flip, its new contactless payment device.Flip allows consumers to make purchases at millions of retail locations that accept contactless payments. Accompanying the physical Flip is Fit Pay’s digital wallet, which enables consumers to store and manage funds transferred from standard bank accounts, supported Bitcoin wallets and more. Similar in size to a poker chip, Flip gives contactless payment power to consumers in an imaginatively compact and convenient form.

“Along with the shift to contactless payments, we’re also seeing an evolution in consumers’ relationships with their wallets. People went from paying with cash to mostly paying with cards,” said Jack Jania, VP of Product Management and Innovation, CPI Card Group. “There’s significant appeal and interest in easy to carry and quick to access payment methods, and payment objects help answer that call. We’re thrilled to work with Fit Pay to introduce such a distinct, contactless payment innovation in the U.S.”

Through its small size, thinness, flexibility and cost-effectiveness, CPI’s Adaptives allows companies to “adapt” the technology for multiple end uses and form factors for contactless payment. Additionally, CPI’s dedication to customer support helps companies create payment objects that capture their brand identity, no matter how simple, complex or novel they may be. CPI worked in close collaboration to integrate Adaptives with Fit Pay’s desired form factor to produce the contactless-enabled Flip.

“We have always been committed to advancing payment technology, and CPI has helped us create a new contactless payment option for consumers,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Flip represents a new way for people to make contactless purchases everyday with an inexpensive, easy to use form factor. We look forward to seeing the number of Flip users grow and working with CPI to bring more and more innovative contactless payment devices to market in the future.”

Non-fiat funds (i.e. cryptocurrency) must first be converted to U.S. dollars before those funds are loaded onto Flip. There are account and exchange fees associated with maintaining a Flip digital wallet. Flip is currently only available in the United States.

To learn more about Flip, click here.

To learn more about Adaptives™, click here.

About CPI Card Group

CPI Card Group is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization and fulfillment, and Software-as-a-Service (SaaS) instant issuance. CPI has more than 20 years of experience in the payments market and is a trusted partner to financial institutions and payments services providers. Serving customers from locations throughout the United States, CPI has a large network of high security facilities, each of which is certified by one or more of the payment brands: Visa, Mastercard®, American Express and Discover®. Learn more at www.cpicardgroup.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 healthcare, payment and IoT applications. 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. Learn more about Nxt-ID at www.nxt-id.com. For Nxt-ID Inc. corporate information contact: info@nxt-id.com

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 Nxt-ID’s business strategy. Nxt-ID’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; Nxt-ID’s ability to implement its long range business plan for various applications of its technology; Nxt-ID’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 Nxt-ID’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in Nxt-ID’s reports filed with the Securities and Exchange Commission.

EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries.

Contacts

ICR Inc. for CPI Card Group
Sourav Das
203-682-8283
media@cpicardgroup.com

Flip-logo_lg

Nxt-ID Subsidiary Fit Pay® Media Alert and FAQ for Flip – Contactless Payment Device for Bitcoin

SEBASTIAN, Florida, May 21, 2019 /PRNewswire/ — Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD), issues a media alert for featuring a new product video and updated Frequently Asked Questions (FAQs) for Flipä. Flip is a contactless payment device that enables Bitcoin holders to exchange their cryptocurrency into U.S. dollars and use that value to make contactless purchases at millions of retail locations.

Watch the video: https://www.youtube.com/watch?v=Q_f6y0E4hXk&feature=youtu.be

Flip FAQ’s:

Where does Flip Work?

Flip works at retail locations with supported contactless payment terminals.

How does Flip work?

Flip exchanges your Bitcoin value into US dollars, which are then used to fund a prepaid-payment device. The near field communication (NFC) device can then be used at a contactless payment point of sale terminal. Simply tap your Flip to pay.

Read the full product FAQ:  https://www.fliptopay.com/#FAQ

The Company previously announced in April 2019 that it commenced shipments of confirmed pre-orders of Flip and expects to ramp up full production and marketing of Flip in the first half of 2019.

Flip’s near field communication (NFC) antenna allows it to transact payments at any retail point of sale location that accepts supported contactless payments. Flip stores value exchanged from the user’s compatible Bitcoin wallet into U.S. dollars. Flip includes a digital wallet to manage the exchange of Bitcoin to U.S. dollars and the loading of value on the device. Flip does not need to be charged. Non-fiat funds (i.e. cryptocurrency) must first be converted to U.S. dollars before those funds are loaded onto Flip.

Consumers interested in purchasing Flip can order the device at FliptoPay.com. The retail price for Flip is $29. 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, including applicable fees, and to order Flip, visit FliptoPay.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.

NXT-ID includes 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 and 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. Learn more about NXT-ID at www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc. For NXT-ID Inc. corporate information contact: info@nxt-id.com

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 Orlandochris@fit-pay.com1.760.468.7273 D. Van Zantpress@nxt-id.com1.800.665.0411
NXTID Icon Hi res

Nxt-ID, Inc. Completes $16.5 Million Long-term Debt Refinancing

 

 

SEBASTIAN, Florida, May 7, 2019 /PRNewswire/ — Nxt-ID, Inc. (NASDAQ: NXTD) (the “Company”) today announced the closing of a $16.5 million senior secured term loan (the “Term Loan”). The Company will use the proceeds from the Term Loan to refinance its existing loan facility and to pay other costs associated with the refinancing.

Key features of the Term Loan include:NXTID Hi res

  • Interest rate of LIBOR + 11.00%;
  • Maturity date of three years after closing, and
  • Three-year term with minimum principal payments amortized over 96-months.

The refinancing also removes a covenant of the existing debt facility and allows the Company to proceed with the proposed spin-off of its Fit Pay, Inc. subsidiary and its payments, authentication, credential management business and other assets into a new company called PartX, Inc. (“PartX”).

“We are very pleased to have completed this transaction and refinanced our debt facility,” said Nxt-ID Chief Executive Officer Gino Pereira. “It enables us to move forward with the planned spin-off of our payments business, which we believe will increase overall shareholders value.”

On April 29, 2019, the Nxt-ID filed a Form 10 Registration Statement with the Securities and Exchange Commission (SEC) to spin off PartX into an independent company and distribute its shares to Nxt-ID shareholders. The Form 10 Registration Statement is used to register a class of securities that are intended to be traded publicly and is subject to review and approval of the SEC.

Following the successful completion of the spin-off transaction, which the Company believes will qualify as a tax-free distribution, Nxt-ID shareholders who own shares on the spin-off Record Date will receive a pro-rata distribution of shares PartX and will own shares of both Nxt-ID and PartX. The Record Date for the distribution has not yet been established, pending review by the SEC of the Form 10 Registration Statement.

The Company believes the spin-off of PartX will provide a number of benefits, including: (1) enhanced strategic and management focus on the core business and growth of each company; (2) more efficient capital allocation, direct access to capital and expanded growth opportunities for each company; (3) improved investor understanding of the business strategy and operating results of each company; and (4) enhanced investor choice by offering investment opportunities in separate entities.

Maxim Group, LLC was retained by the Company as a finder in connection with the Term Loan.

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 healthcare, payment and IoT applications.

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. For Nxt-ID Inc. corporate information contact: info@nxt-id.com

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.

In addition to the operational uncertainties identified above, there are a number of important factors that could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements, including whether the planned spin-off of the payments business is completed, as expected or at all, and the timing of any such spin-off; whether the conditions to the spin-off can be satisfied, including the achievement of a tax-free distribution; whether the operational, marketing and strategic benefits of the spin-off can be achieved; whether the costs and expenses of the spin-off can be controlled within expectations; and general market and economic conditions. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the SEC, when evaluating our forward-looking statements.

Media Contacts:

Chris Orlando
chris.orlando@nxt-id.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com

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Cision View original content:http://www.prnewswire.com/news-releases/nxt-id-inc-completes-16-5-million-long-term-debt-refinancing-300844905.html

SOURCE NXT-ID, Inc.

PartX-Icon

Nxt-ID, Inc. Announces Filing of Form 10 Registration Statement for Planned Spin-Off of its Payments Business

 PartX™-with-tag_sm
SEBASTIAN, Florida, April 30, 2019 /PRNewswire/ — Nxt-ID, Inc. (NASDAQ: NXTD) today announced that a Form 10 Registration Statement was filed with the U.S. Securities and Exchange Commission in connection with the planned spin-off of its payments, authentication and credential management business (the “Payments Business”). The Form 10 Registration Statement is used to register a class of securities that are intended to be traded publicly and is subject to review and approval of the Securities and Exchange Commission.”This filing marks an important next step in the planned spin-off of our Fit Pay, Inc. (“Fit Pay”) subsidiary and our payments business,” said Chief Executive Officer Gino Pereira. “The spin-off will create two independent companies focused on delivering significant ongoing value to our shareholders within their respective markets.”

Nxt-ID (or the “Company”) previously announced that it intends to separate its payments, authentication and credential management business into an independent company and distribute those shares to Nxt-ID shareholders through the execution of a spin-off, which it believes will qualify as a tax-free distribution. Immediately following the transaction, Nxt-ID shareholders, who own shares of Nxt-ID on the spin-off Record Date, which has not yet been announced, will own shares of both companies. The new company, PartX, Inc. (“PartX”), will include the assets acquired in the May 2017 business combination with Fit Pay, Inc. as well as the payment, authentication and credential management assets the Nxt-ID developed previously.

“This spin-off will enable both companies to execute business plans that leverage their core strengths and to present clear, well-defined value proposition for our shareholders, partners and customers,” said Michael Orlando, COO of Nxt-ID, president of Fit Pay, Inc. and incoming Chief Executive Officer of PartX, Inc. “This more singular focus, along with a more concentrated and efficient use of resources, will fully empower both companies to maximize shareholder value.”

The Company believes the spin-off will provide a number of benefits, including: (1) enhanced strategic and management focus on the core business and growth of each company; (2) more efficient capital allocation, direct access to capital and expanded growth opportunities for each company; (3) improved investor understanding of the business strategy and operating results of each company; and (4) enhanced investor choice by offering investment opportunities in separate entities.

PartX, Inc.

The new company, PartX, will include the payment, authentication and credential management assets of Nxt-ID and Fit Pay, Inc, including Fit Pay’s Token Requester Platform, which enables cardholders to securely add their payment credentials to devices that are integrated with Fit Pay’s token management solution. The Platform allows device manufacturers, merchants, banks and any other entities making digital transactions to offer their customers a safe and convenient payment experience. FitPay is one of the first successfully commercialized token requestor service providers to be integrated with the major payment card networks.

PartX’s core capabilities also include the development of payment and authentication devices that leverage NFC (near field communication), cryptocurrency, and blockchain technology. It is currently developing secure, connected devices that are focused on digital payments and loyalty programs, which will be distributed through partnerships and offered direct to consumers. The assets of the new company will include a portfolio of payment, authentication and blockchain technology patents that have been filed by or issued to Nxt-ID and Fit Pay.

Nxt-ID and LogicMark

Assets associated with Nxt-ID’s healthcare subsidiary, LogicMark, LLC, will remain with the Company along with the assets under 3D-ID, LLC. LogicMark produces a range of products within the personal emergency response system (PERS) market. The Company has differentiated itself by offering non-monitored products, which only require a one-time purchase price, instead of a recurring monthly contract, offering a significant value proposition over monitored solutions.

Transaction Details

The registration statement may be accessed at www.sec.gov under the name PartX, Inc., the new corporate name for the parent company of the Payments Business. The registration statement provides information regarding the business, strategy, and historical financial results of PartX, as well as further details on the anticipated terms of separation and distribution and tax matters agreements between Nxt-ID and PartX in connection with the planned spin-off. PartX expects to update its registration statement in subsequent amendments as additional information is finalized prior to the spin-off.

The spin-off of this business is subject to final approval by the Nxt-ID Board of Directors, execution of transition services and assignment agreements, arrangement of financing facilities, the effectiveness of the registration statement, and other customary conditions. The separation will not require a shareholder vote and is expected to be completed in the second quarter of 2019. PaxtX has applied to list on the OTCQB of the OTC Markets Group Inc. Following the spin-off, Nxt-ID will continue to trade on the Nasdaq Capital Market under the symbol “NXTD.”

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. Fit Pay and the Fit Pay Payment Platform are the sole property of Fit Pay, Inc. For Nxt-ID Inc. corporate information contact: info@nxt-id.com

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.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements, including whether the planned spin-off of the payments business is completed, as expected or at all, and the timing of any such spin-off; whether the conditions to the spin-off can be satisfied; whether the operational, marketing and strategic benefits of the spin-off can be achieved; whether the costs and expenses of the spin-off can be controlled within expectations; and general market and economic conditions. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the SEC, when evaluating our forward-looking statements.

Media Contacts:

Chris Orlando
chris.orlando@nxt-id.com
+1-760-468-7273

 

D. Van Zant
+1-800-665-0411
press@nxt-id.com

Flip-logo_lg

Nxt-ID Subsidiary FitPay® Begins Pre-order Shipments of Flip – a Contactless Payment Device for Bitcoin

Contactless payment instrument funded with value exchanged from cryptocurrency

SEBASTIAN, Florida, April 3, 2019 /PRNewswire/ — Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD), today announced that it has begun shipments of confirmed pre-orders of Flip, a new contactless payment device that enables Bitcoin holders to exchange their cryptocurrency into U.S. dollars and use that value to make contactless purchases at millions of retail locations. The Company expects to ramp up full production and marketing of Flip in the first half of 2019.

“When we developed the concept for Flip our goals were to create a product that more seamlessly connected cryptocurrencies to the payment ecosystem and to demonstrate our drive to be at the leading edge of payment technology,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Flip accomplishes both goals. We are very pleased consumers can now use Flip to buy things every day. We look forward to growing the community of Flip users over the coming months.”

Flip’s near field communication (NFC) antenna allows it to transact payments at any retail point of sale location that accepts supported contactless payments. Flip stores value exchanged from the user’s compatible Bitcoin wallet into U.S. dollars. Flip includes a digital wallet manage the exchange of Bitcoin to U.S. dollars and the loading of value on the device. Flip does not need to be charged. Non-fiat funds (i.e. cryptocurrency) must first be converted to U.S. dollars before those funds are loaded onto Flip.

Consumers interested in purchasing Flip can order the device at FliptoPay.com. The retail price for Flip is $29. 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 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 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:

SOURCE NXT-ID, Inc.

Related Links

http://www.nxt-id.com

Discover Logo

DISCOVER CARDMEMBERS CAN NOW MAKE PAYMENTS ON THE MOVE WITH GARMIN PAY

Riverwoods, IL, and Olathe, KS, January 28, 2019 – Discover®and Garmin®International, Inc., today announced that Discover cardmembers can now make payments using Garmin PayTM, a contactless payment solution for people on the move. Garmin Pay, which is powered by FitPay®, is available on Garmin’s latest active lifestyle smartwatches, the vívoactive®3 series, and new GPS running watches, the Forerunner®645, Forerunner 645 Music and fēnix®5 Plus series, as well as the D2™ Delta aviator watch series. Those who add their Discover card to Garmin’s virtual wallet can make quick and easy purchases using just their watch.

“Consumers are constantly on the go and our goal is to make it as simple and seamless as possible for our cardmembers to pay with their Discover card, including on IoT and wearable devices,” said Shaida Lynch, vice president of e-business at Discover. “Now someone can be out on a jog or running errands and the ability to pay with Discover from their Garmin watch is just a quick tap away.”

“We are excited to provide our customers and Discover cardmembers with another way to pay while they are on the go,” said Dan Bartel, Garmin vice president of global consumer sales. “Having the ability to easily pay for purchases, without the need for a phone or wallet, is a feature that we are happy to bring to users who live an active lifestyle.”

Discover cardmembers can use Garmin Pay at any merchant retail location that accepts both Discover and contactless Near Field Communication (NFC) transactions. Once a payment card is added to Garmin’s virtual wallet—which can be done through the Garmin Connect™ Mobile App—users can tap and pay with just a few quick touches.

“We are very pleased to have partnered with Discover and Garmin to bring additional payment capabilities to Discover cardholders,” said Michael Orlando, chief operating officer of NXT-ID and president of Fit Pay, Inc. “Discover cardholders will now be able to experience a truly frictionless payment experience through Garmin’s amazing line-up of smartwatches.”

Discover cardmembers who use Garmin Pay to make purchases will continue to receive all the convenience and benefits of their Discover card, including rewards, fraud protection and U.S.-based customer service.

For more information, go to www.discover.com/credit-cards/digital-wallets/more-walletsand www.garmin.com/garminpay.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories. For more information, visit www.discover.com/company.

About Garmin International, Inc.

The ever-expanding Garmin fitness segment develops technologies to enhance and promote healthy and active lifestyles. Whether users are runners, cyclists, swimmers, multi-sport athletes, or simply looking to stay active throughout the day, there is a Garmin product that can help them reach their health and fitness goals.  For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designedfor people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin’s virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin,twitter.com/garmin, or youtube.com/garmin.

Garmin International, Inc., is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan, and the United Kingdom. Garmin, vívoactive, Forerunner and fēnix are registered trademarks and Garmin Pay, D2 and Garmin Connect are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

About NXT- ID, Inc., and Fit Pay, Inc.

Fit Pay, Inc. is a wholly owned subsidiary of NXT-ID, Inc.(NASDAQ: NXTD), which 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; FitPay, 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® is a registered trademark of Fit Pay, Inc.

 

Media Contacts

Derek Cuculich

Discover Financial Services

224-405-0665

derekcuculich@discover.com

Follow us: @Discover_News

 

Stephanie Schultz
Garmin International, Inc.
913-397-8200
media.relations@garmin.com

 

Chris Orlando

Fit Pay, Inc.

760-468-7273

chris@fit-pay.com

 

###

Blue_Kort 0024

Nxt-ID Subsidiary Fit Pay, Inc. Extends Payments to Another Iconic Brand

European Launch of SwatchPAY! Brings contactless payments to four new watches

SEBASTIAN, Florida, January 18, 2019 /PRNewswire/ —

Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD), today announced that its Token Requester Management (TRM) platform is enabling SwatchPAY!, a new contactless payment feature on four new watches announced this week in Switzerland by the iconic watchmaker. Fit Pay is providing critical tokenization services for the new feature.

“The launch of SwatchPAY! represents a big step towards making contactless and wearable payments more mainstream. Having an iconic brand like Swatch add payments, signals that payment is becoming a must-have feature for most things you wear,” said Michael Orlando, COO of Nxt-ID and president of Fit Pay, Inc. “From a company perspective, adding another top-tier brand to the Fit Pay platform is a very positive development and the culmination of significant effort by our team. It goes a long way toward solidifying our leadership position in this emerging market.”

Fit Pay’s platform enables manufacturers of IoT and wearable devices to add contactless payment capabilities to their products, making it possible for consumers to pay for goods and services at near field communication (NFC)-enabled point-of-sale terminals with a simple tap. The platform uses tokenization, a payment security technology that replaces cardholders’ account information with a unique digital identifier (“payment token”), to transact secure contactless payments. The Fit Pay platform authenticates the accountholder, requests the payment token from the payment network and issuer, provisions the token to an embedded secure element chipset on the device, and manages the lifecycle of the token.

Nxt-ID previously announced that it intends to separate Fit Pay and its payments, authentication and credential management business into an independent company and distribute those shares to Nxt-ID shareholders through the execution of a spin-off, which it believes will qualify as a tax-free distribution. Immediately following the spin-off transaction, Nxt-ID shareholders, who own shares of Nxt-ID on the to-be-announced record date will own shares of both companies. Prior to the record date of the distribution, which will be established by the Board, NXTD shares continue to include shareholder rights to any pro-rata dividend that may result from the spin-off. The new company, PartX, Inc., will include the assets acquired in the May 2017 business combination with Fit Pay, Inc. as well as the payment, authentication and credential management assets previously by Nxt-ID. It is applying for listing on NASDAQ.

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. For Nxt-ID Inc. corporate information contact: info@nxt-id.com

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:
Fit Pay, Inc.
Chris Orlando
chris@fit-pay.com
+1-760-468-7273

GPLogo_stacked

Garmin PayTM Ecosystem Expands With the Launch of the vívoactive® 3 Music With LTE From Garmin®

Contactless payment feature now included on 11 devices and supported globally by a network of more than 260 banks in 30 countries

SEBASTIAN, Florida, January 16, 2019 /PRNewswire/ —

Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD), today announced the expansion of Garmin PayTM, a contactless payment solution, to the 11thsmartwatch from Garmin International, Inc. The new smartwatch, the vívoactive 3 Music with LTE connectivity, launched in conjunction with the Consumer Electronics Show in Las Vegas, Nevada on January 7, 2019. The Garmin Pay contactless payment feature and digital wallet, which is powered by FitPay, enables consumers to make highly secure contactless payments at millions of near field communication enabled (NFC) point-of-sale (POS) terminals worldwide.

“We introduced Garmin Pay in 2017 with the launch of the vívoactive 3, and we are pleased with how this feature has expanded to encompass additional product lines, including smartwatches built for athletes, adventure seekers, pilots and more,” said Dan Bartel, Garmin vice president of global consumer sales. “Garmin Pay provides our customers with the flexibility to pay with their wrist, and as we move forward, we know that even more Garmin customers will have the opportunity to experience this great feature.”

“Garmin is again breaking new ground in the smartwatch category with a triple-threat device that offers LTE, music and payment capabilities,” said Michael Orlando, NXT-ID COO and Fit Pay president. “We are proud to collaborate with a company that has shown such a commitment to enhancing their users’ payment experience across such a wide variety of device offerings.”

Garmin Pay allows Garmin users to make contactless payments free from having their phone or wallet present. The payment feature includes a digital wallet, which is integrated into the Garmin Connect™ user application. In addition to the vívoactive 3 Music with LTE connectivity, Garmin Pay is also available on other smartwatches by Garmin including the D2™ Delta S, D2 Delta, D2 Delta PX, fēnix® 5S Plus, fēnix 5 Plus, fēnix 5X Plus, Forerunner® 645, Forerunner 645 Music, vívoactive 3 and vívoactive 3 Music.

“In addition to the extension of Garmin Pay to a diverse portfolio of devices, we have also seen tremendous adoption globally among bank and credit account issuers,” said Orlando. “The worldwide network of banks and issuers supporting Garmin Pay continually expands, driving new digital wallet activations by Garmin users.”

Since the Garmin Pay feature was launched in November 2017, the card network and issuing bank support for the service has grown to include the major card networks and more than 260 banks in 30 countries on four continents worldwide. Garmin Pay was the first device-based contactless payment service to enter the German market and was recently added by banks in the United Arab Emirates and Mexico.

Garmin Pay is powered by the FitPay Token Requester Management Platform, which enables cardholders to securely add their payment credentials to devices that are integrated with FitPay’s token management solution. 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 payments.

View the complete list of issuing banks, payment networks and countries supporting Garmin Pay at Garmin.com/garminpay/banks .

About Garmin International Inc.

For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business markets, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin’s virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, instagram.com/garmin, or youtube.com/garmin.

Garmin International, Inc., is a subsidiary of Garmin Ltd. (Nasdaq:GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan, and the United Kingdom. Garmin, fēnix, Forerunner and vívoactive are registered trademarks and Garmin Pay, Garmin Connect and D2 are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statementsfor Garmin:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 30, 2017, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html . No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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 http://www.nxt-id.com . FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc. For NXT-ID Inc. corporate information contact: info@nxt-id.com

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:
Garmin International Inc.
Stephanie Schultz
+1-913-397-8200
media.relations@garmin.com

Fit Pay, Inc.
Chris Orlando
chris@fit-pay.com
+1-760-468-7273

SOURCE NXT-ID, Inc.

 

NXTID Hi res

NXT-ID Announces Letter of Intent for $16.5 Million Long-term Debt Refinancing

NXT-ID, Inc. (NASDAQ: NXTD) (the “Company”) today announced the signing of a Letter of Intent (“LOI”) for a new $16.5 million senior secured term loan (the “Term Loan”). The Company will use the proceeds from the Term Loan to refinance its existing loan facility and to pay for accrued interest and costs associated with the refinancing. In addition, the Term Loan proceeds will also provide ongoing working capital, funds for future capital expenditures, and capital for general corporate purposes.

Key features of the Term Loan include:

  • Interest rate of LIBOR + 11.00%;
  • Maturity date of three years after closing; and
  • Three-year term with minimum principal payments amortized over 96-months

“We are very pleased to have made progress on the refinancing of our existing debt facility,” said NXT-ID CEO Gino Pereira. “Completing this transaction will enable us to move forward with the planned spin-off of our Payments Division, which we believe will increase overall value for our shareholders.”

Subject to the closing, the refinancing would remove a key covenant of the existing debt facility and allow the Company to proceed with the spin-off of its Payment Division, which include its Fit Pay, Inc. subsidiary and other assets. The terms of the LOI require the Company to complete the spin-off within 15 days of closing the Term Loan.

The Company previously announced that it intends to separate its payments, authentication and credential management business into an independent company and distribute those shares to NXT-ID shareholders through the execution of a spin-off, which the Company believes will qualify as a tax-free distribution. Immediately following the spin-off transaction, NXT-ID shareholders, who own shares of NXT-ID on the to-be-announced record date will own shares of both companies. Prior to the record date of the distribution, which will be established by the Board, NXTD shares continue to include shareholder rights to any pro-rata dividend that may result from the spin-off.

The new company, PartX, Inc., will include the assets acquired in the May 2017 business combination with Fit Pay, Inc. as well as the payment, authentication and credential management assets the Company developed previously by NXT-ID. It is applying for listing on NASDAQ.

The Company anticipates closing the Term Loan within 45 days of the signing of the LOI, which occurred on January 10, 2019. The closing of the Term Loan is subject to customary due diligence and various terms and conditions. The anticipated timing of the closing is subject to change.

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 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 and 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. Learn more about NXT-ID at www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc. For NXT-ID Inc. corporate information contact: info@nxt-id.com

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.orlando@nxt-id.com
+1-760-468-7273

D. Van Zant
+1-800-665-0411
press@nxt-id.com

 

SOURCE NXT-ID, Inc.

Flip-logo

Nxt-ID Subsidiary FitPay® to Begin Shipments of Flip – a Contactless Payment Device for Bitcoin

Contactless payment instrument funded with value exchanged from cryptocurrency shipping February 13

SEBASTIAN, Florida, January 11, 2019 /PRNewswire/ —

Fit Pay, Inc., a wholly owned subsidiary of Nxt-ID, Inc. (NASDAQ: NXTD), today announced that it will begin shipping initial orders 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. Confirmed pre-orders of Flip will begin shipping on February 13, 2019.

“Flip bridges the gap between cryptocurrencies and traditional payments, providing Bitcoin holders the ability to use their value for everyday transactions,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “We are very pleased that the first Flip users will have their devices soon.”

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. Non-fiat funds (i.e. cryptocurrency) must first be converted to U.S. Dollars before those funds are loaded onto Flip.

Consumers interested in purchasing Flip can order the device at FliptoPay.com. The retail price for Flip is $29. 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 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 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
press@nxt-id.com
+1-800-665-0411