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NXT-ID (NASDAQ:NXTDW) forms an Alliance with Fast Identity Online (FIDO)

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With mobile commerce becoming more and more popular, many companies are entering into this market to get a chunk of huge revenues delivered. A big name that comes to mind is NXT-ID (NASDAQ:NXTDW), which is a biometric authentication company, with sole focus on mobile commerce. The company recently announced its agreement with Fast Identity Online (FIDO) Alliance, as a sponsor member.

FIDO handles online authentication, backed up by latest standards. The company shares and works on delivering details through interoperable, secure and private, and easy methods. They have a variety of serviceable authentication methods, which include biometrics,  such eye and iris scanners, voice recognition, finger print, facial recognition, along with a list of communication standards, like Trusted Platform Modules (TPM), embedded Secure Elements (eSE), USB security tokens, Blue tooth Low Energy (BLE), Smart Cards as well as Near Field Communication (NFC). These products aren’t just at work to protect existing investments; they also cater to future innovation plans. The products are a blended mix that caters to individual users as well as organizations.

NxT-ID (NASDAQ: NXTD) is quite pleased with this alliance, as it would help develop secure methods of authentication along with biometrics and encryption. After the smartphones and smart payment methods, comes Wocket, a smart wallet. The wallet protects user identity and replaces all cards, without any coordination with a smart phone. Wocket can store credit, debit and ATM details, loyalty, ID, membership, insurance, medical business and contact information on it.

Looking at both companies individually, FIDO Alliance came into being in July 2012, to cater to lack of interoperability among authentication technologies. It was a solution that users faced when it came to creating numerous user names and passwords.

NxT-ID (NASDAQ: NXTD), on the other hand is an innovative move in MobileBio solutions. It eliminates consumer’s risks in connection with mobile computing and commerce. It aims at producing biometric solutions that provide mobile platform security led by Wocket. The advantage Wocket has is that it only works with biometric stamp approval.

Both the companies unite to successfully execute their business strategy and provide security measures for users and organization.

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