MELBOURNE, Florida, March 28, 2018 /PRNewswire/ --
Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc. (NASDAQ: NXTD), issues a product FAQ (https://www.fliptopay.com/#FAQ) for Flip™, its new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations.
What is FLIP?
FLIP is a contactless payment device that allows the users to use their cryptocurrency value for traditional payment transactions. Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at retail locations.
Where does Flip Work?
Flip works anywhere contactless payments are accepted.
What cryptocurrencies does Flip support?
Initially, Flip will accept value exchanged from Bitcoin. It will potentially expand to other cryptocurrencies in the future.
How does Flip work?
Flip exchanges the cryptocurrency 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 any contactless payment point of sale terminal. Simply tap Flip to pay.
Read the full FAQ:
Consumers interested in purchasing Flip can pre-order the device at FliptoPay.com. The regular retail price for Flip is $29 with standard shipping included. For a limited time offer consumers can order Flip at 50% off at $14.50.
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.
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: firstname.lastname@example.org. 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.
D. Van Zant
SOURCE NXT-ID, Inc.