Contactless payment instrument to be funded with value exchanged from Bitcoin
Fit Pay, Inc., a wholly owned subsidiary of NXT-ID, Inc.
“I’ve always been ahead of my time. This move was planned 10 years ago. I’m a calculated mastermind. I pattern my biz moves after greats like J.Prince, Warren Buffet, Jay-Z and Bill Gates. That’s why my nickname is Flip Gate$ and don’t forget the dollar sign. Checkmate!!!!! #KINGLIFE,” said Lil’ Flip. “Great to work with a company like FitPay that is forward thinking and shares my vision.”
The coin-shaped device will store a preloaded amount of U.S. dollars that are exchanged from the user’s existing Bitcoin account and has a digital wallet that allows users to set how much value they would like their device to hold and when they would like it to reload. It includes near field communication (NFC) antenna allowing users to tap and pay at any retail point of sale location that accepts contactless payments. The artwork on the device will be designed by Lil’ Flip and reflect his branding.
“Through his music, videos, social media and other content channels, Lil’ Flip speaks to and connects with a broad of community of Bitcoin and cryptocurrency enthusiasts,” Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. “We see this agreement as a unique avenue for reaching an audience that is highly interested in new technologies within cryptocurrency.”
Lil’ Flip’s primary content and social media platforms include his website CloverG.com, video channel YouTube.com/CloverGtv, and @LilFlip713 on Facebook, Instagram, and Twitter. Through these outlets Lil’ Flip will be introducing his branded contactless payment device or ‘Flip Chips’ via interviews, tutorial videos, his signature freestyles, and a variety of other strategic marketing techniques.
Lil’ Flip and Fit Pay will collaborate on the marketing and promotion of the device. A launch date for the product has not been released. Consumers interested in joining an interest list for the product can sign up at http://www.LilFlipChip.com. There are account and exchange fees associated with using the device.
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 http://www.nxt-id.com NXT-ID Inc. Corporate Contact: [email protected]. FitPay® and the FitPay® Payment Platform are trademarks of Fit Pay, Inc
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