Next generation smart wallet protects identity, replaces traditional credit cards

Published on July 26, 2014 at 7:46 AM · No Comments

Biometrics industry expands and becomes more influential as more consumers are turning to digital technology for online & commerce payments while seeking security comfort: NXT-ID, Inc. (OTCBB: NXTD), Google Inc. (NASDAQ: GOOG), LifeLock Inc. (NYSE: LOCK), Visa Inc. (NYSE: V), Apple Inc. (NASDAQ: AAPL) and Fortinet Inc. (NASDAQ: FTNT)

NXT-ID, Inc., (OTCQB: NXTD) a biometric authentication company focused on the growing m-commerce market, announces its next generation smart wallet, Wocket™, was recently the topic of an interview on Boomer Times. Host Anita Finley interviewed Gino Pereira, CEO of NXT-ID, on July 9th for over thirty minutes. Mr. Gino Pereira explains how the Wocket will replace old bulky wallets full of credit cards and walks host Anita Finley through the step-by-step process of using a Wocket and its biometrically secure card, replacing a traditional credit card. Gino tells Anita that 44% of known causes of identity theft can be traced back to stolen wallets. He goes on to share that one in ten consumers have been a victim of identity theft and how the biometric security features of the Wocket can prevent future abuse. 

When Anita asks if a Wocket is for men or women he responds, "It's for everybody who wants something new and techy. It's cool but it's also very practical and helps protect your identity, keeping it in your own personal vault." "The young kids of course will love it but it takes us older people a little bit longer to figure out" says Host Anita Finley.

In terms of the boomer generation, Gino notes the Wocket is very simple to use. "We do recognize that some members of the older generation are the ones most concerned with identity theft. They may only have a couple of credit cards or debit cards but it is great value to protect them. Literally within a minute of reading instructions they can get two or three cards loaded on their Wocket and have it set up and ready to go." The Wocket is currently available for advance orders at http://www.wocketwallet.com and shipments are scheduled to begin in September 2014. Wocket™ is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval.

Global Biometrics Market to Reach $16.7 billion by 2019 - The exploding growth of biometric products and technology has been in response to consumers needs for identity theft avoidance and global security threats. Identity Theft, Online mCommerce threats, airport security initiatives, and attempts to lower crime rates have brought an increasing interest in biometric technologies. Leading companies such as Google (NASDAQ: GOOG), LifeLock (NYSE: LOCK), Visa (NYSE: V) have recently taken steps to ensure secure commerce vehicles are in place to ease the consumer's concerns with Identity Theft without compromising the convenience of smart technology products and services.

As reported, the global biometrics market is at $5.2 billion in 2012 and anticipated to reach $16.7 billion by 2019.

Apple (NASDAQ: AAPL) iPhone users latest 5s model's fingerprint scanner. The addition could mark a turning point for biometric security technology, long a subject of concern to privacy advocates. Called Touch ID, it makes the smartphones less susceptible to theft or misuse, and owners are lapping it up, according to Apple. Company research shows that 83% use a fingerprint scan to unlock their 5s phones, compared with fewer than half who previously bothered to secure their devices with passwords. Banks such as Bank of America, with 15 million active mobile accounts, may use the technology in future iPhone applications. Read the full article at http://www.usatoday.com/story/money/personalfinance/2014/06/29/banking-apple-biometric/11504139/

In other Security News: Fortinet® (NASDAQ: FTNT), a global leader in high-performance network security, this week announced financial results for the second quarter ended June 30, 2014. "Our strong second quarter results highlight that our growth strategy is working and our sales and marketing investments are paying off, especially in the high-end enterprise where we saw significant traction with large deals over $500,000 growing 95 percent year over year," said Ken Xie, founder, chairman and chief executive officer. "Our ability to exceed expectations across all operating metrics during Q2 was driven by the combination of superior sales execution, improved marketing, and strong demand for new high-performance enterprise products. With continued focused execution and an exciting portfolio of new products that further strengthen our competitive advantage, we believe Fortinet remains well-positioned for growth and market share gains."

Source:

FN Media Group, LLC

Posted in: Device / Technology News

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