MASTERCARD, INC. CORAL SPRINGS, Florida, February 20, 2015 /PRNewswire/ --
As the welcome advancement and attraction of mobile payment & biometrics options continue to flourish, newest digital wallet solutions rise in popularity across broader platforms while the latest indications show it may be time to ditch your out-of-date wallet. Smart Technology Companies in focus today area: NXT-ID, Inc. (NASDAQ: NXTD), Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), Visa Inc. (NYSE: V) and MasterCard Incorporated (NYSE: MA).
NXT-ID, Inc. (NASDAQ:NXTD) and (NXTDW), a biometric authentication company focused on the growing mobile commerce market, announced recently that it has filed provisional patent 62/113114 for DISTRIBUTED METHOD AND SYSTEM TO IMPROVE COLLABORATIVE SERVICES ACROSS MULTIPLE DEVICES. The patent further establishes NXT-ID's position in the emerging "Internet of Things" by adding to its intellectual property portfolio the ability for multiple devices to collaborate with one another to improve various services such as personal authentication. The patent also introduces new collaborative payment authentication methods by requiring multiple devices such as wearables and mobile devices to collaborate with one another before a payment can be made.
Read the full NXTD news at http://www.financialnewsmedia.com/profiles/nxtd.html
Gino Pereira, CEO of Nxt-ID stated, "This patent further advances biometric authentication for our Wocket(TM) smart wallet by enhancing training of our voicematch algorithm using multiple devices. We also enhance security of Wocket by introducing a new proximity based payment solution that requires multiple devices, such as Wocket and Wocket card, to be present before payment can be performed. This method further reduces potential fraud by only authorizing payment if both devices communicate without one another, further reducing any possibility of loss of personal information due to theft of either device."
With regards to the big news announced this week concerning Samsung's intended purchase of Loopnet (read more details below), Mr. Pereira commented, "The strategic acquisition of LoopPay by Samsung highlights the need for modern payment systems to work on most 10 million point of sale terminals in the United States in order to gain real market penetration. There are relatively few technologies that have been developed that can do this; our Wocket Wallet is one of them that can. The advantage of Wocket Wallet is that it can work independent of smartphone types or carriers."
NXT-ID's Wocket and LoopPay were one of the many exhibiting companies in the personal privacy marketplace at CES 2015 recently held in Las Vegas. The Wocket booth, located right beside LoopPay, was one of the busiest in the marketplace. Wocket ( http://www.wocketwallet.com) is a 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.
In other Mobile Payment News & Happenings: Samsung has made its move to counter Apple Pay by acquiring Boston-based mobile payment tech firm LoopPay. - The electronics giant acquired the mobile start-up for an undisclosed sum. LoopPay launched a fob-based payments solution that works with the existing magnetic stripe readers last year. However, LoopPay had been expected to have its next generation of digital wallet tech on board with the next Samsung Galaxy smartphone.
"Today is a great day for LoopPay and all those who have supported us over the last few years," said co-founder Will Graylin on the company's website Wednesday. "Our vision of inspiring consumers to transition from a physical wallet to a truly digital wallet will continue." Read the full announcement at http://www.usatoday.com/story/tech/2015/02/18/samsung-acquires-looppay/23633007
Apple Pay (NASDAQ: AAPL) Gains Another Round Of Issuers - More than 80 financial institutions now support Apple Pay, as 9to5 Mac reported that February's list of additional banks and credit unions that support the mobile payment service recently grew by 19. To be more precise, the list now tops around 90, according to Apple's online list of supported issuers updated Feb. 17. Read the full article at http://www.pymnts.com/news/2015/apple-pay-gains-another-round-of-issuers/#.VOZMUsItGHt
Google Wallet (NASDAQ: GOOG) may not have been the hit Google had hoped, but according to a news report, the Silicon Valley giant may try to breath new life into its mobile payments business by tackling not just the digital billfold, but the digital cash register as well. Google has been testing new retail point-of-sale software that works on Android or device or integrates with a store's existing payment processing system, according to a new report from The Information. The service is called Plaso - pronounced "Play-So" - and it allows customers to pay for goods and services by giving their initials to the sales clerk at the register, The Information's unnamed sources said. Read the full article at https://gigaom.com/2015/02/11/google-said-to-be-testing-a-point-of-sale-system-called-plaso
After seven months of testing Visa Checkout in the U.S., Canada and Australia, the financial giant has decided to bring the online payments service to 13 additional countries in 2015. Checkout allows you store your credit card details into a kind of cloud wallet and then pay at merchant's websites and in their mobile apps by entering just a user name and password. In the coming months Visa (NYSE: V) said it would bring Checkout to Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates, bringing the grand total to 16 countries across the globe.
MasterCard (NYSE: MA) says it will invest an $20 million in cybersecurity measures this year, including biometric protection for mobile apps and early warning alerts on potential threat vectors. In a press release, the company said that this spring it will launch Safety Net, an initiative to reduce the risk of fraud or cyberattacks before issuers and processors might notice the threat. The card scheme said Safety Net will provide "an independent layer of security on top of the tools and policies of financial institutions, by monitoring and blocking specific transactions based on selected criteria." The application uses algorithms to score and monitor different channels, geographies, and business sectors, and is designed to intervene only in extreme cases to block fraudulent activity, the release said. Read the full news at http://www.mobilepaymentstoday.com/news/mastercard-plans-20m-spend-to-bolster-cybersecurity-in-2015
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