NXT-ID, Inc. Announces Agreement With Wallaby Financial; Wallaby Members Offered NXT-ID's Wocket Smart Wallet as an All-in-One Card Secure, Convenient Payment Solution

OXFORD, Conn., May 4, 2015 /PRNewswire/ -- NXT-ID, Inc. (NASDAQ:NXTD) ("NXT-ID" or the "Company"), a biometric authentication company focused on the growing mobile commerce market announces a new relationship with Wallaby Financial, a subsidiary of Bankrate, Inc. (NYSE:RATE) and a recognized leader in mobile and web-based credit card optimization solutions.

Under the terms of the agreement, NXT-ID's Wocket® Smart Wallet will become the preferred wallet solution to Wallaby Card Beta List members. The Wocket Wallet and card will offer members the all-in-one card convenience and security envisioned in the Wallaby Card together with enhanced features provided by Wocket. In addition, NXT-ID will integrate Wallaby's Wallet-as-a-Service and CardBase API products to bring deep analytical intelligence to consumer wallets in future products.

More than 30,000 Wallaby Financial customers currently on the Wallaby Card waiting list will receive special invitation e-mails to buy a Wocket Smart Wallet and will receive both priority status and a guaranteed price over the next 45 days, as Wocket re-opens sales to consumers, following delivery of its pre-orders.

Wocket is concluding shipping of its pre-orders to prepaid customers during the month of May and opening sales to its list of registered consumers in June, followed by full-scale release to the general public. 

Matthew Goldman, Founder and Chief Executive Officer of Wallaby Financial, said, "Our customers love the convenience that Wallaby offers them, but the missing piece has been having all their cards available when they need them. We are excited about this partnership with Wocket because it allows our members to carry all of their membership, payment, rewards, gift cards, and more with just a single card. We're thrilled to give our members an advanced opportunity to enjoy the benefits of Wocket alongside our own solutions."

Gino Pereira, Chief Executive Officer of NXT-ID, said, "Wallaby has an amazing technology and a proven product that helps its members with everyday card selection. Wocket is a great match for Wallaby users because now they can pair the benefit of maximizing rewards with the convenience of having all their cards with them."

Mr Pereira went on to say, "The partnership made perfect sense to both of us and we are working on a strong pipeline of new offerings to improve the lives of our customers. Users will get the best of both worlds - advanced personal security and real time optimized card selection."

Wocket is a self-contained vault! Many products on the market rely on a smartphone, app and internet connection. Wocket is not dependent on any other device, so no matter what the situation you can always use your wallet. However, Wocket can communicate with your phone or tablet using the Wocket app as a way to manage your account, and update its firmware.

See the full Wocket FAQ at : http://wocketwallet.com/pages/faq

Product images are available at : https://brandfolder.com/nxtid

Order your Wocket at www.wocketwallet.com 

About Wallaby Financial Inc.

Wallaby Financial ("Wallaby") is the leader in credit card data and consumer financial information applications. Powered by CardBase™, a proprietary database of more than 2,500 credit card profiles, and Wallaby's unique real-time optimization algorithms, Wallaby's product suite helps consumers to earn more rewards and save more money. Wallaby informs consumers about which card to use when shopping, and helps them find the best credit card to add to their wallets by taking into account rewards, fees, interest rates, and other financial data. Wallaby products are available for Web, iPhone, Android, wearables, and more. For more information, please visit https://www.walla.by. Stay connected with Wallaby on Facebook or on Twitter @wallabycard. Wallaby is a subsidiary of Bankrate, Inc. (NYSE:RATE).

About NXT- ID Inc. - Mobile Security for a Mobile World: (NXTD)

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 Wocket®; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. Wocket was recognized as one of the top technology products at CES 2015 by multiple media outlets including Wired.com. 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 and has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/

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.

NXT- ID Inc Contact:
Corporate info: [email protected]

Investors:
[email protected]

Media:
D. Van Zant
800 665-0411
[email protected]

Amy Dalkoff
SSPR for Wallaby Financial
847-415-9325
[email protected]

SOURCE NXT-ID, Inc.

Related Links

http://www.nxt-id.com/