Profile: NXT-ID Inc (NXTD.PH)
19 Aug 2019
Nxt-ID, Inc., incorporated on February 8, 2012, is a technology company. The Company is focused on products, solutions and services for security on mobile devices. The Company's core technologies consist of those that support digital payments, biometric identification, encryption, sensors and miniaturization. The Company has three lines of business: mobile commerce (m-commerce), primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. The Company intends to use its core biometric facial and voice recognition algorithms to develop security applications (both cloud based and locally hosted) that can be used for companies (for industrial uses, such as enterprise computer networks), as well as individuals (for consumer uses, such as smart phones, tablets or personal computers), law enforcement, the defense industry, and the United States Department of Defense.
The Company offers Wocket, a physical electronic smart wallet that is intended to hold information from credit cards, debit cards, loyalty cards, identification cards and various magnetic stripe cards to allow the owner of the card to configure a single, dynamic, electronic card to replicate any of the copied cards. As designed, users will scan in each card, slide through each of the scanned soft-cards via a touch screen display and select the card the user wishes to program. The system consists of approximately two devices, such as an electronic smart wallet, wocket, and a dynamic smart card. The electronic smart wallet is secured by an alpha numeric personal identification number (PIN) and will also have a range of accessories that allow the user to carry a driver's license and cash in the same device.
World Ventures SmartCard
The Company has an agreement with WorldVentures Holdings, LLC. (WVH), an international travel company, which will purchase an exclusive smartcard from the Company for distribution to its membership. The smartcard will be customized for WVH with various other technologies and wireless features, such as the ability to integrate with WVH's DreamTrips App to wirelessly check in and earn loyalty points towards free DreamTrips vacations at select restaurants.
The Company is engaged in the development of a standalone smartcard (the NXT Smartcard) with the ability to make payments by dynamic magnetic stripe or through interacting with a terminal through electromagnetic compatibility (EMC), near field communications (NFC) or barcode functionality.
The Company's antenna and payment technology is the Wi-Mag technology. The technology can be embedded in a mobile device to make wireless payments at various point-of-sale (POS) terminals, which do not require NFC or EMV.
Voicematch is a method of recognizing both speakers and specific words providing multi-factor recognition. Voicematch runs on mobile platforms, such as Android and iPhone operating system (iOS), as well as laptops and desktops. Voicematch is an original equipment manufacturer (OEM) product for smartphone manufacturers. The product can also be sold as a standard development kit (SDK) to provide companies the opportunity to add a further layer of biometric protection to their Websites and smartphone applications for their customers.
The Company offers 3D FaceMatch and 3D SketchArtist facial recognition products. These products are primarily designed for access control, law enforcement, and travel and immigration.
The Company competes with Google and Samsung Electronics Co.
1627 US Highway 1 Ste 206
SEBASTIAN FL 32958-3464