MELBOURNE, Florida, October 3, 2017 /PRNewswire/ --
Michael Orlando, COO of NXT-ID, Inc. (NASDAQ: NXTD) and president of Fit Pay, Inc. will be a Plenary Featured Speaker at the IoT Payments 2017, an industry event hosted by the Secure Technology Alliance that explores the evolving world of Internet of Things (IoT) payments.
IoT Payments 2017, which takes place October 10-11, 2017 at the Hyatt Regency in Austin, Texas, will bring together experts from both the IoT and payments communities to discuss the most important developments, innovations and efforts driving secure, seamless IoT payments. The event is organized by the Secure Technology Alliance (formerly the Smart Card Alliance), a not-for-profit, multi-industry association working to stimulate the understanding, adoption and widespread application of secure solutions, including smart cards, embedded chip technology, and related hardware and software. Orlando's featured presentation, entitled 'Connected Commerce: The Internet of Payments', will cover IoT payments business models, use cases and adoption trends.
Orlando is COO of NXT-ID and president of Fit Pay, Inc. With 22 years of payment industry experience, he has held leadership positions in several successful companies, including Cybersource, where he played a primary role in its $2B acquisition by Visa. In 2014, Orlando Co-founded Fit Pay, which provides an end-to-end contactless payment solution for IoT devices. In May 2017, Fit Pay combined businesses with NXT-ID, and is now a wholly-owned subsidiary of the IoT and security technology company.
The FitPay Payment PlatformTM is a proprietary technology platform that delivers payment, credential management, authentication and other secure services to the IoT ecosystem. The platform uses tokenization, a payment security technology that replaces cardholders' account information with a unique digital identifier (a "token"), to transact highly secure contactless payment and authentication services. FitPay leverages Embedded Secure Element (eSE) chip technology within devices to offer a payment solution that is very power and memory efficient and does not need to refresh a token once it is issued. This frees devices from needing to be tethered to a host device or connected to the Internet to transact payments, creating a superior user experience. FitPay's end-to-end payment solution allows IoT and wearable device manufacturers to add payment and authentication capabilities to their products with very little start-up time, no investment in software development and access to the leading credit card networks.
About NXT-ID, Inc. and Fit Pay, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). With extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, NXT-ID develops and markets groundbreaking solutions for payment and IoT applications. Its industry-leading technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers' mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries: LogicMark, LLC, a manufacturer and distributor of non-monitored and monitored personal emergency response systems ("PERS") sold through dealers/distributors and the United States Department of Veterans Affairs; Fit Pay, Inc., a proprietary technology platform that delivers end-to-end solutions to device manufacturers for contactless payment capabilities, credential management, authentication and other secure services within the IoT ecosystem, and 3D-ID LLC, which is engaged in biometric identification and authentication. Learn more about NXT-ID at www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc.
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.
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