Wireless Technology Leads to Advanced Improvements for Smart Technology Products for Consumers - Company Files for New Patent Aimed to Become Game Changer for Mobile Payments

CORAL SPRINGS, Florida, April 7, 2015 /PRNewswire/ --

Newest mobile payment platforms, digital wallets and wearables seek further enhancements so consumers are able to make payments while protecting personal data with wireless technology advancements.  Smart Technology companies in focus today are:  NXT-ID, Inc. (NASDAQ: NXTD), Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), Vodafone Group Public Limited Company (NASDAQ: VOD), Alibaba Group Holding Ltd. (NYSE: BABA)

NXT-ID, Inc. (NASDAQ:NXTD), a biometric authentication company focused on the growing mobile commerce market, announced that it has filed provisional patent 62/143028 for MINIATURE, MULTI-PURPOSE ANTENNA METHOD AND SYSTEM FOR LOW-POWER CLOSE-PROXIMITY COMMUNICATIONS AND ENERGY TRANSFER

NXT-ID introduces a new revolutionary method and system to perform wireless payments. This patent surrounds the use of miniature antenna modules for multiple purposes including RF and magnetic stripe communications, energy transfer and charging, and wireless magnetic payments, to name a few. 

Read the full NXTD news at http://www.financialnewsmedia.com/profiles/nxtd.html

"What's really exciting about this technology is that these miniature antenna modules are small and efficient enough to fit within a wide variety of mobile and wearable applications, but powerful enough to transmit wirelessly to the most prevalent point of sale system still in use today - magnetic stripe readers," says David Tunnell, Chief Technology Officer of NXT-ID, Inc.  "We were pleasantly surprised to discover that our existing antenna designs for our Wocket® Card are not only small enough to fit into ultra-thin powered devices, but can also be optimized to transmit wirelessly. Ultimately, this not only enables wireless payments for mobile applications such as smart phones, but also wearable applications where ultra low power and tiny size are critical, such as smart watches and smart wallets."  This technology is positioned to become a major enabler in wireless payments at NFC terminals as well as common magnetic stripe readers. NXT-ID states one can simply point the device containing the antenna within a few inches of most magnetic strip readers to successfully transmit magnetic stripe data wirelessly, but at a fraction of the power consumption of other approaches.

"This is a potential game changer to the mobile payments industry," says Gino Pereira, CEO of NXT-ID.  "We are extremely excited to introduce this potentially disruptive technology as the next step in our evolution, after we complete our Wocket Smart Wallet delivery program this spring. This new method of wireless payment technology has a power consumption so low it brings wireless payments to virtually any mobile or wearable application. We plan to offer this technology to enable wireless magnetic stripe and other wireless features to watches and phones, as well as our Wocket Smart Wallet in the near future."

In other smart technology and mobile payment news:   Apple News (NASDAQ: AAPL): Tangerine announced today that its mobile banking app will be one of the first apps available on Apple Watch. The Tangerine Mobile Banking Apple Watch app will provide users with quick and easy access to their personal banking information from their wrist, including account balances, recent transactions and transaction details.  "We're excited to be one of the first apps available on Apple Watch as we continue to deliver simple and innovative solutions that allow our clients to bank on their own terms," said Peter Aceto, President and CEO of Tangerine. "This continuous innovation is what reinforces Tangerine's position as a forward thinking bank and sets us apart when it comes delivering the future of banking to Canadians."

Google (NASDAQ: GOOG) has released a new version of their mobile payment app, Google Wallet, for Android and the latest version of the app comes with some new features.  The new Google Wallet for Android app now comes with integration with Google Maps and you will be able to look at your digital receipt in the app and see the location of where the item was purchased.  There are also some other new features in the latest version of Google Wallet for Android, which include the ability to look up a users transaction history, you can now search by merchants name, or by items that you bought.

Vodafone (NASDAQ: VOD) customers will soon be able to add bank cards to their Vodafone Wallet and use smartphones to pay for goods and services at contactless terminals, it was announced. Following new agreements with Visa (NYSE: VISA) and Carta Worldwide, bank card payments via Vodafone Wallet will be enabled in European markets from the second quarter of 2015 onwards.  This service, which requires a Vodafone NFC SIM, will be supported on a wide range of Android smartphones.

Alibaba (NYSE: BABA) News: Alibaba Group and Xiaomi Inc disclosed that by using wearable technology they will mutually develop mobile payment systems. Xiaomi and Ant Financial will allow the Alipay Wallet mobile app to link with Xiaomi's Mi Band smart fitness bracelet. That will allow consumers smooth the process of making payments, avoiding the need for passwords. Although a small move for a developing technology tipped to eventually substitute wallets, the collaboration marks a landmark in China where the function has so far been more delusion than reality.

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