PartX Icon

Nxt-ID Announces Name and Branding for Payments Division Spin-Off

PartX™ with tagNew payment, authentication and credential management company to be called PartX, Inc.

SEBASTIAN, Florida, Oct. 18, 2018 /PRNewswire/ — Nxt-ID, Inc. (NASDAQ: NXTD) (NASDAQ: NXTD) today announced that PartX, Inc. will be the name of the planned entity by which it will spin-off its payments, authentication, and credential management business. The name is intended to evoke connectively, stability and endless possibilities.

The name PartX™ is inspired by Charles Pajeau’s invention of Tinker Toys in 1914. Pajeau’s patent included a piece called ‘Part W’ – a round spool with holes drilled around the perimeter. It was designed so that when connected to the set’s wooden sticks it formed perfect 90-degree angles, providing strength to an unlimited combination of structures.

“PartX is the evolution of Pajeau’s vision – technology platforms and products that connect people to devices, and devices to ecosystems,” explained Michael Orlando, COO of Nxt-ID and president of Fit Pay, Inc. “The company will facilitate connected commerce, making digital transactions secure, frictionless and personalized.”

The PartX name and branding will be introduced at Money20/20, a payments industry event attended by more than 11,500 professionals, taking place October 21-24, 2018 in Las Vegas, Nevada. The company will be exhibiting at the event and is a sponsor.

On September 21, 2018, Nxt-ID announced that it intends to separate its payments, authentication, and credential management business into an independent company and distribute shares of the newly created company to its shareholders through the execution of a spin-off, which the Company believes will qualify as a tax-free distribution.

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 that the Company developed since inception. Following the spin-off, the PartX has an investment commitment for $6.0 million to fund its operations. PartX plans to apply for listing on the NASDAQ exchange.

Michael Orlando, current Nxt-ID COO and president of Fit Pay, will be the chief executive officer of the new company. Orlando and Nxt-ID CEO, Gino Pereira, will serve on the Board of Directors of both companies.

Sign up to receive updates about PartX, Inc. at www.PartXinc.com.

Transaction Details

For further details about the spin-off transaction, please see the Form 8-K filed by Nxt-ID with the Securities and Exchange Commission on September 21, 2018. Completion of the tax-free spin-off and the new company’s subsequent listing will be subject to final approval by the Nxt-ID Board of Directors, approval by NASDAQ and a number of factors, including market conditions, the execution of inter-company agreements and other matters. Nasdaq has not approved the spin-off company for listing and there are no guarantees that the company will be able to list on Nasdaq or any other exchange.

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.

Media Contacts:  

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

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

NXT-ID2

NXT-ID and QubeChain Announce Strategic Alliance Agreement

Companies to collaborate in commercializing blockchain technology and to jointly pursue strategic market and growth opportunities

SEBASTIAN, Florida, October 18, 2018 /PRNewswire/ —

NXT-ID, Inc. (NASDAQ: NXTD) a provider of healthcare devices and services as well as payment, credential management, and authentication platform services and QubeChain LLC, a broad-based blockchain technology company focused on delivering blockchain solutions to the healthcare and payments markets, among others, today announced a Strategic Alliance Agreement to collaborate in the development and marketing of a blockchain-based technology solutions within the healthcare, payments and other strategic markets. Under the Agreement, the companies will jointly offer technology products and solutions from both companies to their respective customer bases and collaborate to pursue new market opportunities.

“As we became familiar with QubeChain, we found there was an array of complementary skills and offerings that will add significant value to the technical capabilities and relationships of both companies,” said Gino Pereira, Chief Executive Officer of NXT-ID. “This Agreement will increase the scope of each company’s technology products and solutions, and greatly expand our addressable market potential.”

“Nxt-ID and its subsidiaries have a demonstrated track record of successfully commercializing technology solutions within very complex ecosystems, such as healthcare and payments,” said C. Rees Morgan II, Founder, and CEO of QubeChain. “We see tremendous value and market potential in the combined technological offerings of both companies, and we are looking forward to jointly pursuing key vertical markets.”

QubeChain is expanding its partnerships in healthcare in a major way with projects involving a major US health insurance provider. The Company’s offerings are tailored to provide patient record transparency and mobility and to help manage and reduce healthcare costs.

The Agreement includes a range of the sharing of information, providing introductions and referrals, undertaking joint marketing initiatives and other activities with the objective cooperating to jointly identify, develop, pursue and secure new business opportunities and expand the range of technology offerings to existing clients and customers.

The Agreement covers potential collaborations between QubeChain, Nxt-ID and its subsidiary companies LogicMark, LLC and Fit Pay, Inc., as well as Nxt-ID’s proposed spin-off of its payments, credential management, and authentication business.

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 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.

About QubeChain, LLC

QubeChain is a Blockchain Technology Company building mission-critical compliant blockchains for regulated industries. The Company leverages creative innovation and deep industry expertise to produce applied uses of Blockchain Technology. The Company’s solutions include: Consulting Services, Customized mobile token and coin wallet applications that integrate digital currencies, Healthcare, Payment Processing, Silicon-2-Blockchain, Digital Wallets and Security.

Media Contacts:

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

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

QubeChain
Kimberly Cobb
kimberly@qubechain.com

Visa Logo

Visa Unveils New Partners on Tokenization to Help Increase Payment Security and Reduce Effects of Data Breaches

Visa welcomes 20 new Visa Token Service partners who will help scale tokenization to their thousands of merchant clients and millions of customers around the world

SAN FRANCISCO–(BUSINESS WIRE)–Visa Inc. (NYSE:V) today announced the commercial expansion of the Visa Token Service for credential-on-file (COF) token requestors, marking a major milestone towards further securing consumer payments in the digital channel.
With this expansion, acquirer gateway and technology partners Adyen, AsiaPay, Braintree, Checkout.com, Cherri Tech, CyberSource, Elavon, Ezidebit, eWAY, Fit-Pay, Giesecke & Devrient, PayPal, Payscout, Rambus,SafeCharge, SecureCo, Square, Stripe, Worldpay and YellowPepper are or will soon be able to tokenize credential-on-file digital payments on behalf of their merchant and payment clients.

Built on top of the EMVCo Payment Tokenization Standard, the Visa Token Service offers another layer of security by replacing sensitive cardholder information, such as personal account numbers and expiration dates, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder’s more sensitive account information. In addition to enhancing security, expired or compromised payment credentials can be seamlessly updated in the background by the financial institution, eliminating a significant point of friction for consumers and merchants.

Merchants also get the added security protection of being shielded from data breaches that occur elsewhere in the ecosystem since the Visa card number is replaced with a token unique to the merchant or gateway acquirer partner.

“Today, we welcome 20 partners into the Visa Token Service who will help scale tokenization to their thousands of merchant clients and millions of customers around the world. This opens up a world of possibilities for our merchants and partners to further evolve and innovate in digital payments,” said Ansar Ansari, senior vice president, digital payment products, Visa. “Making digital transactions even more secure is one of Visa’s biggest priorities. Working with Visa, these partners will help secure cardholder data and make digital payments safer, resulting in frictionless digital commerce experiences for consumers.”

“Adyen is excited to be the first acquirer in the payments ecosystem with in-market solutions to support and offer Visa Token Service to our global merchants,” said Kamran Zaki, president, North America, Adyen. “In addition to improving security, Visa network tokens through Adyen will allow our merchants with cards on file to reduce involuntary churn and improve authorization rates without any additional work on their part.”

“Worldpay is committed to protecting the integrity of every transaction and this solution integrates well with our own security and tokenization products,” says Asif Ramji, chief product officer, Worldpay. “By forming strong relationships with companies like Visa to bring global scale to every merchant, we ensure their ability to deliver positive customer experiences. Importantly, Worldpay merchant partners who take advantage of our implementation of the Visa Token Service do not need to wait for individual certification and approval to begin protecting their customers’ data.”

“The integration of the Visa Token Service within the CyberSource Token Management Service is an important milestone in our quest to enable clients to create new digital commerce experiences and deepen consumer engagement across channels,” said Andre Machicao, senior vice president, CyberSource, a Visa solution. “The powerful integration of these services provides merchants additional value and simplifies access to future Visa Token Service enhancements, especially in the area of credential life cycle management. Dynamic updates of credentials when a card is lost, stolen or expired will help our clients improve the consumer experience and lift conversion.”

Since the launch of the Visa Token Service in 2014, Visa has added over 60 global token requestors—including mobile and wearable manufactures, issuer wallets, online merchants, payment service providers and acquirers—from 40 markets onto the token platform. The addition of 20 merchants, acquirer gateways and token requestors will bring scale globally and support Visa’s commitment to security and convenience of online and mobile payments from both traditional eCommerce as well as credential-on-file transactions.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visavisacorporate.tumblr.com and @VisaNews.

Contacts

Visa Inc.
Sheerin Salimi, 415-805-5923
shesalim@visa.com

logo-ekgcard

Nxt-ID Announces Intention to Spin-Off Payments Division

Company plans for Initial Public Offering to Include Payment, Authentication and Credential Management Assets

SEBASTIAN, Florida, September 21, 2018 /PRNewswire/ —

Nxt-ID, Inc. (NASDAQ : NXTD) today announced that it intends to separate its payments, authentication and credential management business into an independent company and distribute shares of the newly created company to its shareholders through the execution of a spin-off, which the Company believes will qualify as a tax free distribution. Immediately following the transaction, which is expected to be completed by November 15, 2018, Nxt-ID shareholders who own common shares of Nxt-ID on the dividend date of October 15, 2018 will own shares of both companies. The new company 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 that the Company developed previously. Following the spin-off, the new company has an investment commitment for $6.0 million to fund its operations. The new company will apply for listing on NASDAQ.

“We believe that this transaction will help to unlock the true value of both our payments and our healthcare businesses. Both businesses are experiencing an increased number of significant commercial opportunities, which require specialized focus to successfully execute them. These opportunities are sufficiently diverse such that the synergies of being under a single structure are outweighed by the need to focus on them separately. In addition, it provides our current and potentially new shareholders the opportunity to participate in a pure play investment in both strategies, while increasing the transparency for the market in general, in terms of understanding and tracking the performance of each business,” said Gino Pereira, Chief Executive Officer of Nxt-ID. “We believe the new structure will provide current and potential shareholders with two attractive investment options that may be more closely aligned with their respective investment objectives. It further demonstrates our commitment to creating long-term value for our shareholders.”

The New Company

The new company will include the payment, authentication and credential management assets of Nxt-ID and Fit Pay, Inc, including the FitPay® 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 entity making digital transactions to offer their customers a safe and convenient payment experience. Fit Pay is one of the first successful commercializations of a token requestor service provider integrated with the major payment card networks.

The new company’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 digital payment and loyalty devices to be distributed through partners as well as payment devices that enable Bitcoin holders to make contactless payments at retail locations with value exchanged from their cryptocurrency. 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.

Michael Orlando, current Nxt-ID COO and President of Fit Pay, will be the Chief Executive Officer of the new company. Orlando and Pereira will serve on the Boards of both companies.

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 fee, instead of a recurring monthly contract, offering a significant value proposition over monitored solutions. This subsidiary has produced consecutive quarters of record revenues and is looking to expand its business into other healthcare verticals as well as retail and enterprise channels in order to better serve the expanding demand for connected and remote healthcare solutions. For the six months ended June 30, 2018, revenues from LogicMark were $8.7 million with operating income of $3.7 million.

Transaction Details

For further details please see the Form 8-K filed with the Securities and Exchange Commission on September 21, 2018. Completion of the tax-free spin-off and the new company’s subsequent listing will be subject to final approval by the Nxt-ID Board of Directors, approval by NASDAQ and a number of factors, including market conditions, the execution of inter-company agreements and other matters.

Advisors

Alliance Global Partners is serving as financial advisor on the transaction and Robinson Brog Leinwand Greene Genovese& Gluck, P.C. is serving as legal advisor to Nxt-ID, Inc.

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 http://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.


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.

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NXT-ID Subsidiary FitPay® Enters Into Co-Marketing Agreement With Rapper Lil’ Flip to Promote Contactless Payment Device for Bitcoin

Contactless payment instrument to be funded with value exchanged from Bitcoin

SEBASTIAN, Florida, July 23, 2018 /PRNewswire/ –

Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced a co-marketing agreement with rapper, record producer and entrepreneur Wesley Eric Weston, Jr., better known as Lil’ Flip aka ‘Flip Gate$’. Under the agreement, Lil’ Flip and FitPay will collaborate to market a contactless payment device that allows Bitcoin holders to make contactless payments in millions of retail locations with value exchanged from their cryptocurrency. The device, which will include artwork designed by Lil’ Flip and carry his branding, leverages the FitPay® Bitcoin Exchange and payment Token Requestor platforms.

“I’ve always been ahead of my time. This move was planned 10 years ago. I’m a calculated mastermind. I pattern my biz moves after greats like J.Prince, Warren Buffet, Jay-Z and Bill Gates. That’s why my nickname is Flip Gate$ and don’t forget the dollar sign. Checkmate!!!!! #KINGLIFE,” said Lil’ Flip. “Great to work with a company like FitPay that is forward thinking and shares my vision.”

The coin-shaped device will store a preloaded amount of U.S. dollars that are exchanged from the user’s existing Bitcoin account and has a digital wallet that allows users to set how much value they would like their device to hold and when they would like it to reload. It includes near field communication (NFC) antenna allowing users to tap and pay at any retail point of sale location that accepts contactless payments. The artwork on the device will be designed by Lil’ Flip and reflect his branding.

“Through his music, videos, social media and other content channels, Lil’ Flip speaks to and connects with a broad of community of Bitcoin and cryptocurrency enthusiasts,” Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “We see this agreement as a unique avenue for reaching an audience that is highly interested in new technologies within cryptocurrency.”

Lil’ Flip’s primary content and social media platforms include his website CloverG.com, video channel YouTube.com/CloverGtv, and @LilFlip713 on Facebook, Instagram, and Twitter. Through these outlets Lil’ Flip will be introducing his branded contactless payment device or ‘Flip Chips’ via interviews, tutorial videos, his signature freestyles, and a variety of other strategic marketing techniques.

Lil’ Flip and Fit Pay will collaborate on the marketing and promotion of the device. A launch date for the product has not been released. Consumers interested in joining an interest list for the product can sign up at http://www.LilFlipChip.com. There are account and exchange fees associated with using the device.

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 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 Contact:
Chris Orlando
chris@fit-pay.com
+1-760-468-7273

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

 

Westpac

Westpac and NXT-ID Subsidiary Fit Pay to Extend Contactless Payments to Devices

Garmin PayTM first to launch with new payment options for Westpac customers

Westpac, Australia’s oldest bank and company, and one of four major banking organizations in Australia and New Zealand, and Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and a provider of payment, credential management, and authentication platform services, have today announced an agreement to extend contactless payment capabilities to a range of new devices, including the latest smartwatches from Garmin International, Inc. (GRMN). The Agreement enables Westpac customers to make secure contactless payments at NFC-enabled point-of-sale locations directly from Internet of Things (IoT) and wearable devices that are integrated with the FitPay’sTM Trusted Token ManagerTM .

Under the agreement, Westpac will participate in FitPay’s Token Requester Program, 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. It allows consumers to pay at near-field communication-enabled point-of-sale terminals with a simple tap.

The FitPay Trusted Token Manager provides contactless payment capabilities and full digital wallet functionality to a variety of IoT and wearable devices. The Platform powers the Garmin Pay™ capability on several recently launched smartwatches by Garmin. Garmin Pay is currently enabled on the vívoactive® 3, the vívoactive 3 Music, the Forerunner® 645, the Forerunner 645 Music, and the fēnix® 5 Plus series.

“Westpac has a long tradition of using technology to make its customers lives easier,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Extending payments to more devices gives Westpac customers greater flexibility in how they pay and helps fit how they pay more seamlessly into how they live.”

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

 

Discover logo1

Discover and NXT-ID Subsidiary FitPay Partner to Extend Payments to IoT Devices

Agreement gives Discover cardholders access to the latest payment technology for more secure and convenient contactless payments

RIVERWOODS, Illinois and MELBOURNE, Florida, February 26, 2018 /PRNewswire/ —

Discover Financial Services and FitPay, Inc., a wholly owned subsidiary of NXT-ID, Inc., today announced a network services agreement to allow devices that are integrated with the FitPay Payment Platform[TM] to provision tokenized payment credentials through Discover® Digital Exchange (DDX). The agreement enables Discover cardholders, along with alliance partner cards, to easily make contactless payment transactions at retail locations with wearable or Internet of Things (IoT) devices that include payment capabilities powered by FitPay[TM].

“With the advancements of mobile technology, the way customers interact with merchants is being re-imagined with an eye toward more secure and convenient methods of payment,” said Diane Offereins, Discover’s president of payment services. “This integration with FitPay is one more way in which Discover is continuing to enhance the payment experience and provide more options for our cardholders on how and where they pay.”

Under the agreement, FitPay’s payment and digital wallet platform will be integrated with the Discover tokenization platform, DDX. FitPay’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 more secure contactless payments. The agreement gives Discover cardholders access to the latest contactless payment technology.

“Consumers should have options in how they pay, and this agreement makes cutting-edge payment devices available to Discover cardholders,” said Michael Orlando, COO of NXT-ID and president of FitPay, Inc. “Making payments easy, secure and frictionless requires building an extensive ecosystem. Discover is a unique and important part of that ecosystem, and we are very pleased be able to make the network available to devices on the FitPay Platform.”

Manufacturers of 15 IoT and wearable devices are currently integrating with the FitPay Payment Platform. Product announcements from manufacturers of the devices integrating with the FitPay platform are anticipated in 2018.

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 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 more than 185 countries and territories. For more information, visit: http://www.discover.com/company.

NXT- ID, Inc. and FitPay, 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; 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 http://www.nxt-id.com. NXT-ID Inc. Corporate Contact: info@nxt-id.com. FitPay and the FitPay Payment Platform are trademarks of FitPay, 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
FitPay, Inc.
chris@fit-pay.com
760-468-7273

Jeremy Borling
Discover
jeremyborling@discover.com
224-405-4252
@Discover_News

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NXT-ID Subsidiary Fit Pay Now Taking Pre-Orders for Flip – a Contactless Payment Device for Cryptocurrencies

Contactless payment instrument to be funded with value exchanged from cryptocurrency

MELBOURNE, Florida, February 22, 2018 – Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), today announced that it is now accepting pre-orders for FlipTM, a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations. The new device, which was announced earlier this month, uses value exchanged from cryptocurrency to make traditional payment transactions. Pre-order Flip at www.FliptoPay.com.

“Flip represents an exciting expansion of the FitPay Payment Platform by connecting cryptocurrencies to the payment ecosystem,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “We founded Fit Pay to fundamentally change the payment experience, and making contactless payments with cryptocurrency is a big step toward that goal.”

Flip’s near field communication (NFC) antenna allows it to transact payments at any retail point of sale location that accepts contactless payments. Flip will store a preloaded amount of U.S. dollars that are exchanged from the user’s existing cryptocurrency account. It 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. Initially, Flip will accept value exchanged from Bitcoin and will potentially expand to other cryptocurrencies in the future.

“Flip’s coin-shaped form factor and distinctive coloring are definitely attention grabbing,” said Orlando. “Early adopters who are already into Bitcoin, can now pre-order Flip and be among the first to make a contactless payment with their cryptocurrency.”

“NXT-ID’s expansion into the cryptocurrency space is a natural extension of our leading edge fintech capabilities,” said Gino Pereira, CEO of NXT-ID. “In addition to helping make crypto currencies more usable on a daily basis we are also pursuing applications for blockchain technology in our core payment and healthcare businesses.”

Consumers interested in purchasing Flip can pre-order the device at FliptoPay.com. The retail price for Flip is $29 with standard shipping included. There are account and exchange fees associated with maintaining a Flip digit wallet. Initial deliveries expected in the second quarter of 2018. Customers will only be charged when the product is shipped to them. Flip is currently only available in the United States. For more information, visit FliptoPay.com.

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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

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NXT-ID and Subsidiary Fit Pay to Demo Payment Platform at Pepcom’s Digital Experience! Media Event in Las Vegas

Company to Highlight Recent Milestones, Including Strategy for Connecting Cryptocurrencies to the Payment Ecosystem

MELBOURNE, Florida, January 4, 2018 – NXT-ID, Inc. (NASDAQ: NXTD) a provider of payment, credential management, and authentication platform services and Fit Pay, Inc., its wholly owned subsidiary, will be participating the Pepcom Digital Experience! media event on Monday, January 8, 2018, at The Mirage Hotel & Casino in Las Vegas, Nevada from 7:00 to 10:30 pm.

Digital Experience!® is the annual Pepcom media event held in January on the eve of the Consumer Electronics Show® in Las Vegas. This is the single most popular showcase – with exhibitors and press alike – and the largest media event at the show. Digital Experience! is an independent event and not affiliated with the show or the Consumer Technology Association.

NXT-ID, Inc. and Fit Pay, Inc. will demo the FitPay Payment PlatformTM, the company’s proprietary technology platform that adds contactless payment capabilities to wearable and IoT devices. FitPay recently announced that Garmin PayTM, a contactless payment capability on the Garmin vívoactive 3 smartwatch that is powered by the FitPay Platform, is now live.

Management will also highlight with attending media its recently announced strategy to extend the FitPay Payment Platform to cryptocurrency holders.

On December 20th, Fit Pay, Inc. and Cascade Financial Technology Corp announced an agreement for the joint development of a platform that gives cryptocurrency holders the ability to use the value of their currency to make purchases at millions of retail locations worldwide. The new platform will enable devices with stored value exchanged from cryptocurrency to be used for traditional payment transactions.

The joint development of the cryptocurrency platform by FitPay and Cascade FinTech is expected to launch in early 2018.

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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

 

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NXT-ID Subsidiary Fit Pay and Cascade FinTech to Create Platform for Connecting Cryptocurrencies to the Payment Ecosystem

Collaboration will enable devices to make contactless payments with value exchanged from cryptocurrency

MELBOURNE, Florida, December 20, 2017 – Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and Cascade Financial Technology Corp (Cascade FinTech) today announced an agreement for the joint development of a platform that gives cryptocurrency holders the ability to use the value of their currency to make purchases at millions of retail locations worldwide. The new platform will enable devices with stored value exchanged from cryptocurrency to be used for traditional payment transactions.

“As cryptocurrencies increase in value and distribution, the need to create new methods to monetize their value and enabling models for acceptance is the critical last mile,” said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “Our development effort with Cascade seeks to connect cryptocurrencies to the payment ecosystem as a natural extension of FitPay’s platform.  It will give cryptocurrency holders the opportunity to effortlessly use their value to make purchases every day, just as they would use a credit or debit card, and transform the way people pay.”

Under the agreement, which is an extension of a current relationship between FitPay and Cascade, the two companies will collaborate to create a platform that seamlessly transfers cryptocurrency value into widely accepted forms of payment and stores that value on devices capable of making contactless payments. This will give cryptocurrency holders the ability to make transactions with value derived from cryptocurrency at any near field communication-enabled point of sale terminals.

“Cryptocurrencies are becoming a more common way of storing and transferring value, so there is a tremendous need to enable that value to be used to purchase goods and services,” said Cascade FinTech Founder and Chief Executive Officer Spencer Schmerling. “Our collaboration with FitPay will create a platform that does just that – connecting cryptocurrency to the mainstream economy in a whole new way.”

“As a security technology company, our mission to protect users, data and transmissions is very relevant to the emergence of cryptocurrencies and blockchain in general,” Gino Pereira CEO of NXT-ID said. “As such, we are working on ways that we can add value to this emerging space and this partnership is the first of anticipated future offerings from the company.”

FitPay and Cascade FinTech previously entered into an agreement to provide prepaid capabilities on wearable devices and Internet of Things (IoT) devices connected to the FitPay Payment PlatformTM. The prepaid, or general purpose reloadable (GPR), option gives consumers with FitPay’s contactless payment-enabled devices the convenience of storing funds directly on their device. Under the previous agreement, the FitPay Platform connects to the Cascade CloudTM to enable contactless payment GPR devices in a variety of form factors.

The expansion of the agreement will seek to extend similar capabilities with value derived from cryptocurrencies. The joint development of the cryptocurrency platform by FitPay and Cascade FinTech is expected to be launched in early 2018. Once launched, the platform will create opportunities for recurring revenue from account and transaction fees.

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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.

 

About Cascade Financial Technology Corp

Based in Las Vegas, Nevada, Cascade Financial Technology Corp provides a reliable and scalable platform for FinTech startups to quickly get their product or service to market. Cascade’s platform features RESTful API’s, full BSA/AML compliance, automated KYC, extensive fraud mitigation, and world-class USA based customer service, all of which enable our clients to create the most innovative and inclusive financial products and services that allow all people to participate in the FinTech revolution.

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