NXT-ID Inc. (NASDAQ:NXTD), a technology company focused on products, solutions and services for security on mobile devices, made their CEO, Gino Pereira, available for Executive Casts to discuss a multitude of subjects that investors are interested in beyond what they can glean from abbreviated earnings calls. In the clips below, NXTD CEO Gino Pereira talks about smart technology, the future of authentication and the company’s FitPay acquisition to expand NXTD’s payment technology and presence in the internet of things.
Color on NXT-ID’s FitPay Acquisition
When you think about how you can pay with the phone, there are relatively few companies that enable you to do that. So, you can do it with Apple on ApplePay, you can do it with Samsung on SamsungPay and there is AndroidPay. Really after that, the only other company that’s been credentialed by the payment companies is FitPay.
So, our model is to actually provide other companies with the capability to put these same type of digital payments that you can get on ApplePay and SamsungPay on their own devices. We recently made an announcement where we did that with a company called Token that has a ring with which you can make tokenized payments. They have a very cool video and it’s worth checking out. https://token.io/
Smart Technology Doesn’t Have to Be Difficult to Use
Smart technology doesn’t have to be difficult to use. So, as long as the product is simple in operation, I think they are – I think there are a number of seniors that don’t wear the device because it’s almost like a branding saying, “Oh, I need this because I might have an accident.” I think if we can package it into something that’s more attractive and more useful on an everyday basis, I think there would be higher adoption.
Smartphones and the Future of Authentication, Payment Technology
I think that phones are always going to be useful. Indeed, we also use phones without provision or whatever device that we’re going to use. But if you think about your lifestyle, do you carry your phone or do access access to your phone even if you carry a phone everywhere you go?
So, for instance, if you’re driving and let’s say you want to make a payment or let’s say you’re driving through a coffee stand, I mean a future application of our type of technology is you could drive through and just having a device in your car, make the payment and you just grab your coffee and you go. You don’t need to scramble for your phone, you don’t need to find the right app, hit the right button, do the authentication. It’s already done for you.
There’s times when you may be out hiking or mountain climbing or climbing up the rope, you don’t want to drop, you won’t let go, right? To pick up your phone and you certainly don’t want to drop your phone. So, there are numerous applications where it’s just more convenient not to have to resort to your phone. So, you think of why did Apple come out with a watch for which you could do other payment technologies? There are many applications where it’s just easier and more convenient than to use your phone.
Gino Pereira — Chief Executive Officer and Chief Financial Officer of Nxt-ID
From the date of inception of the Company, Mr. Pereira, one of Nxt-ID co-founders, has served as the Chief Executive Officer and Director. Mr. Pereira has over 30 years of executive, operational and financial experience with technology companies in the United States, Europe and the Far East. He has also helped to develop several technology start-ups as well as served in an executive capacity in a large multinational public company.
Mr. Pereira was Chief Financial Officer and later Chief Executive Officer of Technest Holdings Inc., a publicly quoted defense contracting company, from 2004 to 2011. Technest Holdings operated subsidiaries EOIR Technologies, Inc. and Genex Technologies, Inc. Mr. Pereira is a Fellow of the Chartered Association of Certified Accountants (UK) and has an MBA, with a specialty in finance, from the Manchester Business School in England.
Mr. Pereira brings to the Board significant expertise in the biometric and software recognition industries, as well as experience in international business technology and extensive management and operating experience. Having founded and/or operated companies in similar or related industries during the past 15 years, provides the board with unparalleled knowledge of the Company and its operations and an understanding of the markets the Company plans to operate in.
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