MELBOURNE, Florida, May 30, 2017 /PRNewswire/ --
Fit Pay, Inc., a wholly-owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD) and provider of payment, credential management, and authentication platform services, has been recognized as a 'Start-up of the Year' in payments by industry publication Paybefore. The recognition was included in Paybefore's announcement of the winners of the 2017 Pay Awards-the most prestigious recognition of excellence in the global prepaid and payments technology industry. Panels of experts in Prepaid, Retail & Loyalty and Payments Technology selected the winners. (2017 Pay Awards announcement.)
"We are honored to receive this recognition by Paybefore and greatly appreciate the support we have received from Mastercard and other companies in the payment ecosystem as we have built out our payment platform," said Michael Orlando, President of Fit Pay, Inc. and COO of Nxt-ID. "Consumer adoption of contactless payments is rapidly reaching a tipping point, and Fit Pay is the forefront of this transition, improving the payment experience and enabling payments on a wide range of devices."
Fit Pay is a proprietary technology platform that provides payment, credential management, authentication, capabilities and other secure services to manufacturers of wearable and IoT devices. Fit Pay has integrated with the major credit card networks and chip manufacturers to provide an all-in-one solution and flexible integration options with developer-friendly tools and documentation, including Trusted Service Management services, full-featured API, mobile SDK (iOS & Android) and a highly secure payment network tokenization scheme.
Fit Pay is now eligible to vie for Paybefore's 'Best-in-Category' honors, which will be voted on by the public and selected by the publication. Visitors to Paybefore.com can vote for Best-in-Category through May 31, 2017. The Industry Achievement winners and those named Best-in-Category will be featured in the Paybefore's second annual Pay Magazine - Awards Issue. To vote for Fit Pay the Best-in-Category for Payments Tech: Startup of the Year award, click here.
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc. (NASDAQ: NXTD) is a security technology Company providing security for finance, assets, and healthcare. The Company's innovative MobileBio® solution mitigates risks associated with mobile computing, m-commerce, and smart OS-enabled devices. With extensive experience in biometric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, the Company partners with industry leading companies to provide solutions for modern payment and the Internet of Things ('IoT') applications. The Company's wholly-owned subsidiary, LogicMark, LLC, manufactures and distributes non-monitored and monitored personal emergency response systems ('PERS') sold through the United States Department of Veterans Affairs ('VA'), healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors. http://www.nxt-id.com
About Fit Pay, Inc.
A wholly-owned subsidiary of Nxt-ID, Inc., Fit Pay, Inc. is led by former CyberSource and Visa executives with more than 50 years of payment and identity authentication domain expertise. With payment capabilities enabled by Fit Pay, wearable and IoT device manufacturers can create customer loyalty, tap into recurring revenue streams, open new markets, and differentiate their products in an increasingly competitive market. Learn more at http://www.fit-pay.com, or on Twitter.
Forward-Looking Statements for NXT-ID: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
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