NXT-ID Issues Shareholder Corporate Update
Letter from the CEO:
Recent developments in the payment industry have brought focus to the many issues surrounding how we pay, and what we pay with. Another large data breach, this time at
Although Apple Pay has dominated recent news and generated new life in existing technology built around NFC, Android device owners won't be able to take advantage of ApplePay; nor will those without a smart-phone or an iPhone 6 without a slide on case. NFC payment technology was introduced several years ago by services such as Google Wallet and Softcard (previously ISIS Wallet). In addition, some of the largest retailers such as
Like Apple Pay, these digital wallets require a cell phone, with attendant battery life issues, an active data connection, and special hardware at the retailer.
Unlike cell phone dependent and connected technologies, Wocket works without a smart-phone, disconnected from cloud-based services, and maintains all the features of a wallet, allowing users to customize and carry whatever they need. It's truly the first universal secure payment solution.
Wocket secures all the information and cards users commonly store in their wallet, allowing them to continue paying with and using their credit, debit, loyalty, and insurance cards just as they do today. Wocket can even store login credentials, crypto currency accounts, and one thing that no digital wallet can ever replace - cash. Wocket completely replaces the wallet and hosts a new generation of wallets that combine fashion with personal security.
The flexibility of the Wocket platform can support NFC and EMV, as well as Bluetooth and other forms of payment as they become prevalent in the future. Thus, unlike other technologies that are only accepted in certain locations, Wocket can be accepted everywhere while still providing security and privacy. Furthermore, Wocket is the only device that can secure all cards and personal information within your wallet directly under the owner's control, not within an impersonal cloud or unproven custodian of private data.
We will issue a marketing update with new initiatives including new TV ad campaigns and new celebrity ads this week followed by a detailed product manufacturing update, including delivery of the much anticipated Wocket.
The payment industry is currently undergoing massive change and we appreciate our shareholder's support in embracing our unique technology and approach to payments with the Wocket.
We believe we are delivering something to consumers and the market that has not been accomplished by our peers and competitors.
Chief Executive Officer
Forward-Looking Statements for
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