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Security Payment Platforms Improving Mobile Commerce: Company Aims To Patent Authentication Application
|By PR Newswire
|March 21, 2014 08:32 AM EDT
CORAL SPRINGS, Florida, March 21, 2014 /PRNewswire/ --
Market news briefings for technology companies striving to provide a safer mobile commerce market for consumers: NXT-ID, Inc. (OTCBB: NXTD), Apple, Inc. (NASDAQ: AAPL), Ebay, Inc. (NASDAQ: EBAY), Google Inc. (NASDAQ: GOOG) and NXP Semiconductors NV (NASDAQ: NXPI)
NXT-ID, Inc., (OTCBB: NXTD), a biometric authentication company focused on the growing mobile commerce market, announced today that it has submitted a patent application for dynamic pairing. As a follow up to U.S. provisional patent application No. 61/802,681, NXT-ID has filed patent application 14/049175 for:
THE "UN-PASSWORD™: RISK AWARE END-TO-END MULTI-FACTOR AUTHENTICATION VIA DYNAMIC PAIRING.
This patent represents advancements in biometric and cryptographic authentication, and another key technology to NXT-ID's widely anticipated next generation payment and identity product -- the Wocket™.
To read the full press release, please click here: http://finance.yahoo.com/news/nxt-id-patents-un-password-124231902.html
Dynamic pairing addresses several vulnerabilities facing current authentication methods. These include "brute force" attacks, where attacking computers systematically check all possible passwords until one is found, and "man in the middle" attacks, which caused the Target and other recent retail data breaches where the attacker impersonates each end point to the satisfaction of the other.
With over 575 million credit card accounts, it makes sense that Apple Inc. (NASDAQ: AAPL) moves into the payment space. Making such a move would be the best way to attract and retain users and stem the tide of smartphones becoming a commodity, according to analysts at Barclays. "While we believe margins should still come under pressure over time, we have long believed the payment trend could benefit Apple in particular and enable it to potentially drive incremental revenue streams," the Barclays technology team said. "With 575+ million credit card accounts for the App store, we believe that Apple has the user base to support a payments solution." To read the full story, please click here: http://www.streetinsider.com/Analyst+Comments/Apple+(AAPL)+Needs+to+Move+into+Payments/9294371.html
Ebay, Inc. (NASDAQ: EBAY), Google Inc. (NASDAQ: GOOG) and NXP Semiconductors NV (NASDAQ: NXPI) have also been profitable from mobile payment processing, according to Yahoo! Finance. In today's fast paced, internet-driven world merchant services have evolved to the point where you don't even need a physical credit card to spend money. All you need is a smart phone and an app. Rivals have popped up all over from Square to Google Wallet to LevelUp. This market has been forecast by some to balloon from a $235 billion business in 2013 to over $720 billion by 2017 in the US alone. It's no wonder that some big tech names have been aggressive in this space. To read the full story, please click here: http://finance.yahoo.com/news/profit-mobile-payment-processing-214453552.html
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DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated one thousand four hundred dollars for news coverage of the current press release issued by NXT-Id, Inc. by a non-affiliated third party.
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
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