| The DreamTrips card is a next generation SmartCard that does not require a Wocket and can operate as a stand-alone device |
NXT-ID, Inc. ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce market, announces the first purchase order for a new SmartCard being developed for WorldVentures vacation club members. On February 9, 2016, the Company announced that both companies signed off on the hardware specifications for the new product and that it was entering the manufacturing phase.
The DreamTrips™ card is a totally new product for NXT-ID and WorldVentures and will make travel, vacationing and even daily purchases simpler and more secure with a number of new and unique features to be announced prior to launch.
Next-gen stand-alone SmartCard
It is a next generation SmartCard that does not require a Wocket® and can operate as a stand-alone device. It can also sync to the DreamTrips Smartphone app for a connected user experience.
WorldVentures currently has approximately 500,000 DreamTrips Members, with as many as 80,000 new Members joining every month. The vision of WorldVentures' executive team is to make the SmartCard available to every existing member and eventually, a general global consumer market.
Order value - $15 million
The purchase order is for up to $15 million and is subject to WorldVentures acceptance of the prototype card now being manufactured. The purchase order calls for equal monthly deliveries with a value of $2.5 million a month from July to December 2016. With the exception of the order for the first $2.5 million, WorldVentures has the option to cancel, defer or increase monthly shipments with 90 days written notice on subsequent orders.