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SOURCE NXT-ID, Inc.
SHELTON, Conn., June 10, 2014 /PRNewswire/ -- NXT-ID, Inc. (OTCQB:NXTD), a biometric authentication company focused on the growing mobile commerce market, revealed today its Wocket™ Smart Wallet will include a password storage feature, further demonstrating the versatility of Wocket™ to store and protect a wide range of private information. With this password list feature, Wocket™ owners can store and securely access all their login credentials such as usernames and passwords on a Wocket™ in addition to payment, loyalty, identity and other cards typically held within a wallet. Users will be soon be able to utilize Wocket™ for secure, biometrically locked, password storage in lieu of similar online solutions where data is at risk.
"Passwords continue to be a difficult issue for consumers. 2013 was clearly the "Year of Personal Data Breach", with 110 million credit and debit card account numbers lost to hackers by Target alone," says David Tunnell, CTO of NXT-ID. "Heartbleed and other security vulnerabilities demonstrate the need for a new method for consumer's to protect their private data. Users all over the world utilize online password storage services to store thousands of passwords behind one master password. If a hacker were to gain access to that one master password, they would gain access to all the user's passwords. That is the root of the problem with online storage of private data."
Wocket™ enables users to store and encrypt their passwords locally, and securely inside their own smart wallet. Wocket™ owners will also be able to store other sensitive information such as Social Security Numbers and insurance cards on Wocket™ instead of online servers and applications where their identity is potentially vulnerable.
Wocket™ is a smart wallet in the same vein as the smart phone and smart watch. NXT-ID is introducing its innovative, patent-pending Wocket™ as the next natural step in the evolution of smart devices. Wocket™ is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.
Credit, debit, ATM, loyalty, gift, ID, membership, insurance, ticket, emergency, medical, business, contacts, coupon, and virtually any card can be protected on Wocket™. More than 10,000 cards, records, coupons, etc. and 100 voice commands can also be stored on Wocket™.
Advance ordering is available at http://www.wocketwallet.com/
The Wocket product FAQ is available to consumers and media at http://nxt-id.com/wocket-faq/
About NXT-ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (NXTD) 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 the Wocket™ ; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com/
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, the Company's securities.
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.
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