OXFORD, Conn., Feb. 12, 2015 /PRNewswire/ - NXT-ID, Inc.
(NASDAQ:NXTD and NXTDW) ("NXT-ID" or the "Company"), a biometric
authentication company focused on the growing mobile commerce
market, announced today that it has filed provisional patent
62/113114 for
DISTRIBUTED METHOD AND SYSTEM TO IMPROVE COLLABORATIVE SERVICES
ACROSS MULTIPLE DEVICES.
The patent further establishes NXT-ID's position in the emerging
"Internet of Things" by adding to its intellectual property
portfolio the ability for multiple devices to collaborate with one
another to improve various services such as personal
authentication. The patent also introduces new collaborative
payment authentication methods by requiring multiple devices such
as wearables and mobile devices to collaborate with one another
before a payment can be made.
"Wearable and mobile devices will interact with traditional
stationary devices more and more in the future," says David Tunnell, Chief Technology Officer of
NXT-ID. "As watches, phones and smart wallets interact more
and more with locks, appliances and point of sale (POS) systems,
for example, the opportunity to harness the collective processing
and unique features of the devices to improve user experience
exists. Unfortunately, the opportunity for hacking also
exists. The multi-device collaborative services described
within this patent improve not only the convenience of interaction
with multiple devices, but also improves security through
collaborative authentication services."
He also went on to say, "This patent further advances biometric
authentication for our Wocket™ smart wallet by enhancing training
of our voicematch algorithm using multiple devices. We also enhance
security of Wocket by introducing a new proximity based payment
solution that requires multiple devices, such as Wocket and Wocket
card, to be present before payment can be performed. This method
further reduces potential fraud by only authorizing payment if both
devices communicate without one another, further reducing any
possibility of loss of personal information due to theft of either
device."
About NXT- ID Inc. - Mobile Security
for a Mobile World: (NXTD) (NXTDW):
NXT-ID, Inc.'s innovative MobileBio® solution mitigates consumer
risks associated with mobile computing, m-commerce and smart
OS-enabled devices. The company is focused on the growing
m-commerce market, launching its innovative MobileBio® suite of
biometric solutions that secure consumers' mobile platforms led by
Wocket™; a next generation smart wallet designed
to replace all the cards in your wallet, no smart phone required.
Wocket was recognized as one of the top technology products at CES
2015 by multiple media outlets including Wired.com. The Wocket
works anywhere credit cards are accepted and only works with your
biometric stamp of approval. http://www.wocketwallet.com/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in
biometric identification and has 22 licensed patents in the field
of 3D facial recognition http://www.nxt-id.com/,
http://3d-id.net/
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.
NXT- ID Inc Contact:
Corporate info: info@nxt-id.com
Investors:
investors@nxt-id.com
Media:
D. Van Zant
+1-800-665-0411
press@nxt-id.com
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SOURCE NXT-ID, Inc.