NXT-ID Issues Shareholder Corporate Update on Wocket Smart Wallet

OXFORD, CT--(Marketwired - August 06, 2015) - NXT-ID, Inc. (NASDAQ: NXTD) ("NXT-ID" or the "Company"), a biometric authentication company focused on the growing mobile commerce market and creator of the Wocket® smart wallet, issues the following corporate shareholder update following the recent funding round.

Letter from the CEO:

NXT-ID recently completed an essential round of funding to position ourselves to launch our product to the general public with a particular emphasis on the upcoming holiday season. Much has happened at NXT-ID, and with the payment industry, since my last shareholder letter in September 2014 following our uplisting to NASDAQ.

In the intervening time period we have executed the plan that we proposed at our uplisting. We have taken our Wocket design from a working beta model through to a finished manufactured product; which in the case of the Wocketcard means enclosing a package of sophisticated electronics in a card less than 1mm thick! We have almost doubled our staff and have developed an onshore customer service team based out of our Florida distribution center. In addition our fulfillment team is in place and has been busy delivering Wockets! We have delivered all our preorders as well as those on our invitation list and we are now gearing up for general sales.

We are getting a positive reception from our customers and incorporating their feedback in the continued development of our product. One of the advantages of Wocket is that we can remotely update the software for both the Wocket and Wocketcard so our consumers can always enjoy the best available experience with our product. We will be launching our first software update very shortly.

The big question on everyone's mind is how Wocket works with EMV, or the new chip cards that are beginning to be distributed by the major card services. The flexibility of the Wocket platform means that we can support NFC (Apple Pay and Google Wallet type technology) and EMV, as well as Bluetooth and other forms of payment as they become prevalent in the future. We are reaching out to card issuers to incorporate approved tokenized secure payments into Wocket. This will mean that Wocket will not only have the ability to protect your credit cards, and other sensitive information, by verifying your identity before granting access to them, but also protect that data as its being transmitted for settlement. We also have a method for doing this for online transactions as well.