From the press release: SoundView Research states, "We estimate that NXT-ID can capture 6 million users in the U.S. for its Wocket product. Based on the estimated selling price of The Wocket at $99.99 per unit, and including the optional insurance program and other ancillary services we estimate the U.S. market opportunity for NXT-ID'S Wocket to be in the range of $780M to $930M."
The Wocket™, anticipated to be coming to market in the first quarter of 2014, is a new biometrically secure device designed to replace the traditional wallet and the number of cards consumers carry. Its dynamically programmable magnetic stripe, NXTCard can replace up to 100 cards and can include medical records, ID, coupons etc. that are currently kept in a wallet, with one single secure card.
Authenticated users select payment information
, via touch display or voice command and use the NXTCard as they would any other magnetic stripe credit or debit card. The Company just reported it successfully ported its MobileBio Voicematch™ algorithm to The Wocket™. Voicematch™ is a multi-factor biometric technology that can be programmed to match both the user's voice and a specific word of choice.
"We are very excited to see consumers embracing the idea of a new simpler form of payment technology, based on the reaction to the crowd funding start up COIN over the past few days. It shows there is a demand and a desire to replace the current method of carrying around multiple credit cards
in a wallet," said Gino Pereira, CEO of NXT-ID, Inc. "We have been working on The Wocket for over two years now and have designed a product that not only replaces multiple magnetic stripe cards but also introduces a high level of security and functionality while doing so. The Wocket is a replacement for the wallet and will serve as a platform for future innovation. It can read QR codes and barcodes and will be NFC capable allowing for the next generation of contactless payments as well as the traditional magnetic stripe contact method. Very importantly, sensitive user information is directly loaded on to the Wocket without having to pass through or be stored on potentially unsecure platforms such as smartphones or web based services. With our product launch anticipated for the first quarter next year, we will be showcasing The Wocket™ developments and updates on www.thewocket.com over the coming months. We believe consumers will be as excited as we are about The Wocket™."
Full news: http://finance.yahoo.com/news/research-reports-features-wocket-tm-193835829.htmlThe space is getting a lot of buzz following the launch and media campaign of start- up company COIN, which is bringing its product to consumers for the summer of 2014.
According to COIN's website, Coin is a connected device that can hold and behave like the cards you already carry. Coin works with your debit cards
,
credit cards, gift cards, loyalty cards and membership cards. Instead
of carrying several cards you carry one Coin. Multiple accounts and
information all in one place. The mobile app will allow you to add,
manage and sync the cards that you choose to store on your Coin. The
process of adding card information to the mobile app is very simple and
is done by taking a picture or two and swiping your Coin through a small
device we provide you with. Each Coin costs $100. For early adopters
there is a very limited quantity that can be purchased for $50. "The consumer gets to keep their habits and the merchants can keep their habits," said Kanishk Parashar, Coin's chief executive, in an interview with the Wall street Journal.
Video:
About NXT- ID Inc. -Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: 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. 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://3d-id.net/Published at Investorideas.com
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Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: November 2013 :Investorideas is compensated by NXTD: five thousand per month for news publication and syndication and is long 144 shares from previous services
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BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
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