Smart Wallet Competition for Consumer Acceptance; Google Wallet, Apple-Pay, NXT-ID Wocket™, Citi Wallet & More Introduce New Secure Technologies for Payments

CORAL SPRINGS, Florida, September 12, 2014 /PRNewswire/ --

Digital Payments & Smart Wallets becoming more embraced by consumers as the biometrics industry makes technical & security advancements to fuel public acceptance of the future of a credit-cardless existence:  NXT-ID, Inc. (NASDAQ: NXTD), Apple Inc. (NASDAQ: AAPL), eBay Inc. (NASDAQ: EBAY), Google Inc. (NASDAQ: GOOG) and Citigroup Inc. (NYSE: C)

NXT-ID, Inc. (NASDAQ: NXTD), a biometric authentication company focused on the growing mobile commerce market, announced that its shares of common stock and warrants to purchase common stock have commenced trading on The Nasdaq Capital Market. The common stock and warrants and will trade under the symbols "NXTD" and "NXTDW," respectively. As of Thursday this week, the Company's common stock will no longer be quoted on the OTCQB, and shares previously quoted on the OTCQB will now be traded on Nasdaq.

To read the full press release, please click here: http://www.financialnewsmedia.com/profiles/nxtd.html

NXT-ID is currently running 30 second spots on CNBC for its next generation smart wallet, Wocket™ through Sep 14th in the New York markets.  The CNBC commercials have been airing during prime-time morning and afternoon programs, averaging four to five spots daily.

The commercial tells consumers that Wocket™  "stores your credit cards, your loyalty cards, and your private information; so that only you can use them."

Wocket™ allows you to enter your personal information directly, without having to access the internet or a computer server. If your Wocket™ is lost or stolen all your personal information is hidden unless you are the authorized user. Your Wocket™ Card does not hold any identifying information after the card is swiped so if it is lost it has no value to others.  

NXT-ID's CEO Gino Pereira said, "We continue to roll out our ads in selected target markets with our 30 second ads to build brand awareness for  Wocket™, which functions completely differently from any other digital wallet on the market currently. Wocket™ creates a personal vault for each consumer protecting their identity on multiple levels and is completely separate from a smartphone. With the rising concern over credit card security and the recent breeches with high profile brands like Home Depot, credit card issuers are accelerating efforts to tokenize transactions by using encryption technologies. Visa and MasterCard are promoting a new security standard called EMV which this encryption standard is based on. Wocket™  is perfectly placed to be a part of this new push towards encryption with our Wocket™ numbers which provide similar encryption and can be used on existing point of sale terminals. The significance of that is that even retailers that have not yet purchased the new advanced point of sale terminals can benefit from Wocket™ encryption technologies."

With the recent unveiling of Apple's (NASDAQ: AAPL) iPhone 6 and Apple-Pay, it is believed the general public will be more accepting to adapt to digital wallets, according to reports. Right now eBay's (NASDAQ: EBAY) PayPal leads sits atop the market for the digital wallet, according to a Thrive survey of U.S. adults who've used a digital wallet. PayPal was used by 79 percent of individuals who used at least one digital wallet, Google Wallet was at 40 percent, and Apple's Passbook sat at 17 percent. Google's (NASDAQ: GOOG) Google Wallet and Isis Wallet (rebranding itself to become Softcard for political reasons) have already launched mobile payments solutions that employ NFC tech to swap information with point-of-sales systems. Apple's degree of success in delivering an NFC solution for mobile payments will help to determine if the tech company is late to the party or will end up being the life of it. To read more, please click here: http://www.techtimes.com/articles/15073/20140908/apple-iwallet-or-passbook-may-do-what-google-wallet-could-not-kickstart-mobile-payment-services.htm

Citigroup (NYSE: C) also recently revealed its own digital payment system, a digital wallet service that rides the rails of MasterCard's MasterPass product. Citi is the first global bank to introduce its own branded digital wallet in the U.S., according to the press release. "As online spending continues to grow, we heard from our cardmembers that they want a faster way to make purchases online," Barry Rodrigues, head of Citi enterprise payment solutions, said in a statement. "Citi Wallet delivers this by reducing online checkout to just a couple clicks - whether they are purchasing a sweater, flowers or a new tablet." To read more, please click here: http://www.mobilepaymentstoday.com/news/citi-wallet-rides-masterpass-rails/

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