With an exciting series of partnerships and a diverse technology portfolio, NXT-ID Inc. (NXTD) is making waves as a leader in the IoT and digital payment fields. The company is led by President and CEO Gino Pereira, an executive with 30 years of experience in the technology sector. Pereira recently sat down with Equities.com Broadcast Contributor Silvia Davi at the NASDAQ MarketSite to discuss the company’s electrifying growth and future.
“Our revenues and our profitability are driven by two customers of ours,” Pereira told Equities.com. “Logicmark, which is in our healthcare division, the majority of our revenues are driven by our contract with the V.A. hospitals, and performance was very strong there. In our payments division, our revenues and profitability were driven by our partnership with WorldVentures for a product called flyeTM, which is a smart card that we have. So, those are the two aspects that have contributed to our growth.”
Pereira expects Logicmark, an innovator and largest manufacturer of “non-monitored” personal emergency response devices, to see sustained growth in the second half of 2017. In the payments division, the company is evaluating the beta-test of the flye card and making improvements in design for the wider release. The digital card will be available then to WorldVentures 500,000 members and Pereira believes the company’s revenues will resume growth.
Another exciting avenue for NXT-ID and its shareholders has been the acquisition of Fit PayTM, a digital payment platform company. Since coming aboard, Fit Pay has partnered up with Bank of America (BAC) and Garmin (GRMN) to assist in making contactless payments simple and easy. In the interview, Pereira offers a unique perspective on the technology and its potential.
“If you look at companies today that have enabled digital payments, you really are looking at some very large, large companies – you are looking at Apple (AAPL) and Samsung (SSNLF), and potentially Google (GOOGL). So, what Fit Pay does is it brings that technology to everybody else that wants to be in that marketplace,” Pereira stated. “We can supply the same type of advanced payment technology to all these wonderful startups that you see in the IoT space as well as very established competitors to Apple and Samsung that want quick entry into the market.”
Pereira sees the world transforming into a place where IoT, encryption and advanced technology can disrupt and improve the world we live in, and with moves that continue to expand the company’s dynamic reach, NXT-ID intends to be at the forefront of such a new world.
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