New York, NY - Point Roberts, WA - June 5, 2014 (Investorideas.com
Newswire) Investorideas.com, a global news source covering leading
sectors including mobile payments and payment technologies, issues a
report on emerging payment technology companies Dwolla and NXT-ID, Inc.
Recently, InvestorIdeas attended both the Cartes Conference held in Las
Vegas and the NXT-ID, Inc.(
OTCQB: NXTD
) Wocket™ smart wallet press conference held at the Plaza Hotel in New
York, gaining insight on how the CEO’s of the two companies are taking a
very different approach towards solving the same problem; security in
the payment industry.
The ongoing breaches that consumers and businesses are faced with
daily, such as those that affected Target and eBay, have incited the
birth of new technologies including mobile apps, internet and cloud
solutions and new digital wallets.They are all looking to protect our
identity and make our financial transactions secure .
CEO and Founder Ben Milne of Dwolla said at Cartes, “We set money free.”
The Company website says “We're not like those other big payment
companies that rely on plastic cards and charge hefty fees. Instead,
we’ve built our own network that securely connects to your bank account
and allows you to move money for just $0.25 per transaction, or free for
transactions $10 or less.”
At the Cartes conference he told a captive audience, “We
literally took everything the card does and built it into a protocol and
just replaced the card and with it a whole lot of problems go out the
door. This is not a philosophical idea, this has actually been built and
being distributed. We are currently integrated with governments,
businesses and even banks. Some regulated entities and publicly traded
companies utilize our network on a daily basis and it’s all without a
card !”
So Dwolla aims to eliminate our plastic cards - while newcomer
NXT-ID, Inc. wants to replace all the cards in your wallet (up to 10,000
if you have them) with one biometrically secure card and a Wocket™
smart wallet.
Mr. Gino Pereira, Chief Executive Officer of
NXT-ID started his presentation at the Plaza by stating "Meet Wocket,
the smartest wallet you will ever own."
“In the last 18 months there have been a billion breaches of
private information. One in ten of us have had our identity stolen. What
can we actually do about this? It turns out that 44% of identity fraud
can be traced to a stolen wallet or purse. If we can do something about
protecting the information in our wallets, then we can cut down
tremendously on the incidents of identity fraud. That’s why you need a
Wocket.”
He went on to explain, “You can store 10,000 pieces of information
on here in your own personal vault, It can only be accessed by you, by
your voice biometrically or with a PIN, or by drawing a shape on a
screen. You can store all your loyalty cards, gift cards, credit cards,
on a slim, easy to use device. We think this is the evolution of smart .
You started with smart phones, you then had smart watches; this is a
smart wallet.”
“When you select a card that you want to use on your Wocket
touchscreen, it gets programmed on the Wocket card and you hand the
Wocket card to your server or attendant and they will check you out just
like with any other credit card. Bu it’s on one single card! For
security, the information that is transferred onto the card is erased or
zeroized a very short time after it is charged.”
He closed with “This is the Wocket™, it retails for $149.99 and it’s available at
www.wocketwallet.com” , followed by a public demonstration of the first financial transaction with a Wocket™.
According to a recent report from Business
Intelligence, “The credit card companies themselves aren’t going
anywhere for now. Visa and MasterCard in particular will remain an
indispensable part of the chain because they don’t actually process
payments. They simply provide the rails that the credit card system runs
on. Credit card processors like First Data that actually do the work of
processing merchants’ credit card transactions on the back-end are also
in a strong position.”
So what is the future of payments; one card, no card? “One thing we
know is the way we do it today is not ideal”, said Ben Milne of Dwolla.
Mr. Gino Pereira, Chief Executive Officer of NXT-ID quoted
well-known scientist Alan Kay during his presentation reminding us, “The
best way to predict the future is to invent it.”
See the Videos:
Video Clip of CEO and Founder Ben Milne of Dwolla in Las Vegas May 14th, 2014:
http://www.youtube.com/watch?v=bDmZWxbrZHM
Video of Mr. Gino Pereira, Chief Executive Officer of NXT-ID at Plaza Hotel in New York City May 28 th
http://youtu.be/joOi60S6LCk
About Dwolla
Dwolla is a payment network that allows any business or person to
send, request and accept money. We're not like those other big payment
companies that rely on plastic cards and charge hefty fees. Instead,
we’ve built our own network that securely connects to your bank account
and allows you to move money for just $0.25 per transaction, or free for
transactions $10 or less.
https://www.dwolla.com/
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/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric
identification has 22 licensed patents in the field of 3D facial
recognition
http://www.nxt-id.com/ ,
http://3d-id.net/
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