NXT-ID demos smart wallet at CES 2016

NXT-ID exclusively demonstrated its electronic wallet product to BiometricUpdate.com earlier this month at the 2016 Consumer Electronics Show in Las Vegas.

The company claims that its Wocket product is the smartest electronic wallet a consumer can ever own. Designed to protect identity and replace old wallets, the product works by allowing users to simply swipe and save their payment card profiles into the Wocket product, which are immediately secured with a PIN and biometric voice print technology.

According to NXT-ID, without requiring a smartphone, a user can choose a card from the Wocket’s touch screen and Wocket can then program its single, smart card to match the selection. From there, the consumer simply uses the card as they normally would, anywhere credit cards are accepted.

The firm claims that all credit, debit, loyalty, gift, ID, membership, insurance, medical ID and passwords can be protected using its Wocket product.

The Wocket smart wallet, which was named a top 10 tech gadget at CES 2015 by multiple media sources, now includes new near field communication (NFC) payment technology capabilities as well as wireless magnetic payment technology (WiMag).

Gino Pereira, CEO of NXT-ID said in a statement: “A year ago we had a tremendous reception when we gave the public a preview of Wocket. Now, 12 months later, we are again demonstrating leading edge technology and adapting to the new EMV chip technology by demonstrating NFC capable Wockets that will be delivered starting in December this year. We will also show attendees a future wireless magnetic payment technology that has the ability to make tokenized payments wirelessly at traditional point of sale (POS) terminals. We will be launching these technologies in 2016 in collaboration with major stakeholders in the payment space.”

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