Nxt-ID, Giesecke & Devrient join Fido Alliance
05 November 2014 15:54 GMT

The firm’s Wocket solution is a passcode- and voice-protected wallet device

Biometric security firm Nxt-ID, which develops the Wocket digital wallet, and Munich-based technology group Giesecke & Devrient have both joined the FIDO Alliance.

Nxt-ID’s Wocket solution is a passcode- and voice-protected wallet device.  The device is the size of a small calculator and can store data on up to 10,000 debit, credit and loyalty cards.

"Nxt-ID is very enthusiastic about joining FIDO Alliance and contributing to the future of online authentication with our core competencies in biometrics and encryption," said Gino Pereira, CEO of Nxt-ID, Inc. "Security does not have to be inconvenient, and this is the cornerstone upon which NXT-ID and Wocket are founded."

Axel Deininger, Head of the Enterprise Security/OEM division at Giesecke & Devrient, said: “We bring our expertise as a recognized authentication expert to FIDO’s work.”

“G&D is the expert in authentication services and management, a leader in the field of secure elements, supplies smart cards and SIMs, and takes on its customers’ full life cycle management in the security sector”, he said, adding that G&D would make use of its smart card know-how to benefit Fido and “drive forward the use of open standards in our customers’ interests in environments where security is critical”. 

In September , NXT-ID named Vincent S Miceli as its new vice-president and chief financial officer, just a week after announcing that it had completed an essential round of funding and joined the NASDAQ.

A challenger in the realm of biometrics-backed digital wallets has emerged in the shape of Silicon Valley-based start-up Plastc, which in October unveiled a digital payment card that can not only store up to 20 credit, debit, loyalty or gift cards, but also keep card details secure by using face recognition among other technologies.

Plastc has an an E-Ink strip that can display credit card numbers and balances, and which uses touchscreen technology so that you can cycle through cards or lock cards with a PIN, among other tasks.

The FIDO Alliance was formed in July 2012 to address the lack of interoperability among strong authentication technologies, and remedy the problems users face with creating and remembering multiple usernames and passwords. 

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