Next Generation Smart Wallet & Mobile Payment Platforms in 2014 Aim to Eliminate Credit Card Use PR Newswire CORAL SPRINGS, Florida, February 27, 2014 CORAL SPRINGS, Florida, February 27, 2014 /PRNewswire/ -- Market news and updates for leaders in the Biotech sector as one company's new technology will aim to increase mobile security for consumers: NXT-ID, Inc. (OTCBB: NXTD), Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), Symantec Corporation (NASDAQ: SYMC) and Yahoo! Inc. (NASDAQ: YHOO) FN Media Group is please to republish an exclusive interview with Mr. Gino Pereira, Chief Executive Officer of NXT-ID, Inc.(OTCBB: NXTD), creator of Wocket™; a next generation smart wallet and Mr. Kanishk Parashar, CEO of Coin, as each company prepares to launch their products to consumers this year. Both products take aim at consumer's bulky wallets and hope to replace all credit cards in a wallet with one simple solution. Alan Goode, Managing Director of GoodeIntelligence.com notes, "With the recent attacks that saw millions of customers of Target having their personal information, including payment card details, stolen, there is a pressing need to improve the security of payment services at the physical store. EMV is one solution that could improve the security posture of card present transactions at the physical point of sale but perhaps, what we need is a leap to next generation technology that combines convenience and security. Mobile payments are one option but the complexity of the ecosystem has created problems for combining all of our card details within a secure mobile wallet that is accepted at all retail outlets. There are alternatives; innovative technologies that could solve the problem of convenience and security such as NXT-ID's Wocket and Coin. They take the approach of combining the ubiquity of card-based payments with a single, secure digital wallet that can hold all of a consumer's card details in the single device." It is clear that this is the year for the race to bring consumers the most innovative payment solutions; consumers and investors stay tuned! NXT-ID, Inc. Interview: Question: Gino you recently released a product FAQ, 'Get to know Wocket™' that shared a lot of new product features including the number of cards it can hold (up to 10,000). Can you share some of the new product features? A: Gino Pereira, Chief Executive Officer of NXT-ID, Inc Certainly. These product features are not so much new but we are releasing more details as we get closer to product launch. There's still more to come! I would encourage those who are interested to visit our website http://www.nxt-id.com and read the FAQ's on the Wocket product page. Essentially, Wocket is a next generation smart wallet that locks all of your private information in an electronic vault where only an authorized user can gain access to the information and has a single dynamic card for all your payments You can store up to 10,000 records in Wocket including credit, debit, loyalty, gift, ID and membership cards as well as coupons and even medical records, to name a few. The Wocket completely replaces your wallet. It even allows for you to carry cash! Question: Your company recently published filings regarding a private placement funding that was non-dilutive and described by analysts as investor friendly. Can you share what that means in laymen's terms? A: Gino Pereira, Chief Executive Officer of NXT-ID, Inc As a public company we wanted to show our investors that, as a management team, we believed in the company, so the founders returned stock to the Company on a one for one basis with the new shares that were issued in the financing. As a result, existing investors are not diluted by having more shares issued and the Company has more money in the bank! Question: Can you discuss the security features on Wocket and what differentiates it from the competition? A: Gino Pereira, Chief Executive Officer of NXT-ID, Inc. Wocket uses multifactor biometric and PIN identification to allow access to private information. In addition, this information is stored on a secure encrypted chip inside the Wocket. This information is input directly into Wocket and does not come from the internet or the cloud or a phone or other computer. The information on the dynamic card is zeroised after one swipe, so if the card itself is lost, it carries no information about the owner. Question: When is your expected rollout to debut the Wocket and are you on schedule? A: Gino Pereira, Chief Executive Officer of NXT-ID, Inc. We expect to debut Wocket at the end of March or early April and we are currently on schedule for that time frame. Question: How do you view the competitive landscape and how confident are you in Wocket's technology? A: Gino Pereira, Chief Executive Officer of NXT-ID, Inc. I think that the whole payments space is going through tremendous disruption at the moment with a number of players, both large and small, looking for ways to improve security and functionality. There will potentially be several winners who achieve this in slightly different ways. We think of ourselves as not just a company enabling a more convenient method of payment but we are a next generation authentication company with solutions to multiple problems across different platforms. Wocket is an authentication device as well as your wallet, and in combination with our one time use dynamic pairing algorithms, can authenticate the user for payments both at the point of sale (POS) for card present transactions as well as for card not present transactions such as online purchases. Wocket can also authenticate you for seamless access to smart devices of the future with access to your house and your car! We have technologies for tomorrow's world that are not only a lot more secure than what is available today but also will be convenient and easy to use. COIN Interview: Question: I read that less than a week after your first media launch, you reached your initial pre-sale goal. What is the ongoing interest like for presales -- has the momentum continued? A: Kanishk Parashar, CEO of Coin We are very excited about our continued growth after hitting our $50,000 goal in just 40 minutes after launch, but we aren't releasing any more specifics at this time. We want to keep our focus on manufacturing the product as we ramp up to start shipping this summer. Question: The company also addressed some of the security concerns following the initial media release. Can you tell us what changes were made with regard to security? A: Kanishk Parashar, CEO of Coin In total below are the security features of Coin: oThe Coin app is password protected and is128-bit/256-bit encrypted for all storage and communication with itseasy-to-use consumer app to ensure the safety of your identity. oWith Coin, you can only add your cards thatmatch your personal information stored in the app. Your full name will beprinted on the Coin and your signature will be on the back. oCoin sends you a push notification alerting youif you leave your Coin behind and locks automatically if you go too faraway, making it unusable if anyone tries to pay with it. If you need tounlock your Coin without your phone -- you can enter in your single buttonpasscode (similar to Morse code) so you always have your Coin availablefor use. oOn the digital screen, you will see the nicknamethat you assigned to your card, the last 4-digits of the card and theexpiration date. If you need any other information off your card -- you cango to your Coin app which has front and back images of your card. oCoin has an alarm, that remembers how many timesyour Coin is being swiped, and will alert you via the app if it is beingswiped fraudulently when out of your hands. oCoin can lock for one particular card so itcan't be changed to a different card by a merchant or waiter for example. Question: I read in late January in VC Post that the company is raising approximately $15 million in a Series-A financing. Can you give us an update on that, and are you able to disclose any key investors in the raise? (http://www.vcpost.com/articles/21195/20140129/us-credit-card-wallet-coin-raising-15m-in-series-a-funding-sources.htm) A: Kanishk Parashar, CEO of Coin No comment. Question: Is the company still on track to release the product to consumers for this summer? A: Kanishk Parashar, CEO of Coin Yes -- Summer 2014. Question: In closing, can you sum up the consumer response and attitude towards your product? A: Kanishk Parashar, CEO of Coin We are very excited by the initial consumer response that we have received so far. Our backers have been very positive and patiently awaiting the release of Coin this summer. About NXT-ID, Inc.: 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 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.thewocket.com/, http://www.wocketwallet.com/. Using biometrics technologies, NXTD plans to address the growing m-commerce market with an innovative MobileBio suite of biometric solutions that secure mobile platforms. Currently most mobile devices continue to be protected simply by questions that a user asks, and PIN numbers. This security methodology is easily duplicated on another device, and can be easily spoofed or hacked. Nxt-ID's biometric security paradigm is Dynamic Pairing Codes (DPC). DPCs are a new, proprietary method to secure users, devices, accounts, locations and servers over any communication media by sharing key identifiers, including biometric-enabled identifiers, between end-points by passing dynamic pairing codes (random numbers) between end-points to establish sessions and/or transactions without exposing identifiers or keys. NXTD's plans also anticipates that the company will use core biometric algorithms to develop a security application that can be used for corporations (industrial uses, such as enterprise computer networks) as well as individuals (consumer uses, such as smart phones, tablets, or personal computers). Apple Inc. (NASDAQ: AAPL) announced the first iTunes® Festival to be held in the US, featuring an amazing lineup of global superstars, running from March 11-15. Taking place at ACL Live at the Moody Theater, home of Austin City Limits, the iTunes Festival at SXSW will feature iTunes chart toppers including Coldplay, Imagine Dragons, Pitbull, Keith Urban, ZEDD and more to come. All five nights of the iTunes Festival will be available to enjoy for free as a live and on-demand stream via the iTunes Store® on your iPhone®, iPad®, iPod touch®, Mac® or PC. Performances can also be seen in the iTunes Festival app on your iOS device or with Apple TV® in stunning HD. "The iTunes Festival in London has become an incredible way for Apple to share its love of music with our customers," said Eddy Cue, Apple's senior vice president of Internet Software and Services. "We're excited about the incredible lineup of artists performing and SXSW is the perfect place to debut the first iTunes Festival in the US." Google Inc. (NASDAQ: GOOG) recently announced that Nikesh Arora, SVP and Chief Business Officer, will participate in a question-and-answer session at the Morgan Stanley Technology, Media and Telecom Conference in San Francisco. The session is scheduled for 3:00 p.m. Eastern Time / 12:00 p.m. Pacific Time on Wednesday, March 5, 2014. To access the live audio webcast of the session, please visithttp://investor.google.com/webcast.html. Symantec Corporation (NASDAQ: SYMC) is showcasing new mobile solutions for both businesses and consumers this week at two industry conferences, Mobile World Congress and RSA Conference 2014. On display at both conferences, Symantec's mobile experts are demonstrating several solutions that enable safe and secure management of information across iOS and Android platforms, including: File Sync and Share That's Truly Private -Norton Zone integrates with the Symantec Encryption Management Server (SEMS), which enables customers to manage encryption keys themselves and incorporates the patented Symantec Multiblind Key Encryption (MBKE) technology, adding another level of security to protect sensitive data.Norton Zone also includes support for Security Assertion Markup Language (SAML) to provide single sign-on (SSO) via identity providers, two-factor authentication, and virus and malware scanning. Yahoo! Inc. (NASDAQ: YHOO) and Carnegie Mellon University (CMU) recently announced a five-year, $10 million partnership highlighted by an industry-first mobile toolkit that will enable CMU researchers to easily experiment with Yahoo's real-time data services, letting them test new ways that machine learning and interface technologies can improve personalized user experiences. "We're thrilled to be partnering with the exceptional faculty and students at Carnegie Mellon, which has established itself as a premier institution for machine learning and user interface technologies," said Dr. Ron Brachman, Chief Scientist and Head of Yahoo Labs. "By creating a way for Carnegie Mellon University researchers to work directly with Yahoo software and infrastructure, we hope to speed up the pace of mobile and personalization research and create a better user experience." FinancialNewsMedia.com is leading provider of third party publishing &news dissemination services. 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Next Generation Smart Wallet & Mobile Payment Platforms in 2014 Aim to Eliminate Credit Card Use
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