NEW YORK–(COMMERCIAL THREAD) – SmartMetric, Inc. (OTCQB: SMME): After spending years in research and development, SmartMetric has created what is considered to be one of the most advanced and forward-thinking next-generation products in the industry. credit cards.
A credit card integrated inside, a fingerprint reader which, when you touch a sensor on the surface of the card, scans the user’s fingerprints in less than a second. The user’s fingerprint is compared to their pre-registered fingerprint inside the card and when a fingerprint match occurs, the card is turned on. Instant and secure user validation that goes beyond the use of a PIN code to protect the use of a credit or debit card during a transaction.
What sets the SmartMetric biometric card solution apart from one or two companies that have tried to copy the SmartMetric biometric card is that the SmartMetric card is designed with its own internal power source. This allows the card to function and perform fingerprint scanning before the card is inserted into a reader. This allows the card to be used in regular ATMs and in situations where the card is used in places like a restaurant where the card is pulled from the dining table to be processed.
âDuring the development of the SmartMetric biometric card, we were particularly aware that for its adoption by card-issuing banks and consumers, the card should work in all real-life situations in which the public uses cards today. The card had to work in any situation where a card user would want to use their card, which requires the card to have its own internal power source so that biometric scanning can take place on the card before it is, for example, inserted into an ATM, âsaid Chaya Hendrick, President and CEO of SmartMetric.
The SmartMetric biometric card goes beyond the use of its sub-microelectronics inside the card for the validation of the identity of the card user. It has a large memory as well as a very fast processor making the card an exciting new technology platform for multiple advanced applications executed on the credit or debit card. Introducing a new dimension of advanced offers for credit card issuers.
âWe see the future of the credit card as a multi-functional, multi-application platform that can be used in a variety of combined situations such as storing a person’s vital medical records while also being used as a card. daily credit. . This opens up a whole new area of âânew and exciting joint marketing opportunities for credit card issuers, âsaid Chaya Hendrick.
SmartMetric’s biometric card addresses the existing market of several billion financial chip cards.
Figures published by EMVCo 1 reveal that at the end of 2020, 10.8 billion EMVÂ® smart cards were issued by financial institutions and were in circulation around the world – a massive increase of nearly a billion in EMV credits and debitsÂ® cards compared to the previous twelve months.
Additionally, EMVCo reports that 86% of all card transactions are made globally using EMV.Â® chip technology. This is based on data that could be obtained from American Express, Discover, JCB, Mastercard, UnionPay and Visa. Note that, overall, 86.1% of transactions are done on EMV chip.
SmartMetric predicted the global adoption of chip credit and debit cards. He embarked on the development of a biometric fingerprint reader small enough to fit in a credit card over ten years ago. âReducing electronics to a miniature scale of less than 0.3mm, allowing it to fit into an ISO-compliant credit card for such cards has been a long process, but we’re glad we set out to do so. achieve it, âsaid the President and CEO of SmartMetric today. , Chaya Hendrick.
The fingerprint scanner built into the SmartMetric card allows the card chip to work only after a successful scan and match of the card user’s fingerprint. Unlike other biometric cards, the SmartMetric card does not need the card user to visit a bank branch for their fingerprint to be registered on their new biometric card. Instead, the SmartMetric biometric card allows the card user to register their fingerprint when they first receive it at home as easily as when registering their fingerprint on a smartphone. .
The Touch and Store Read Once technology developed by SmartMetric for its biometric card allows financial institutions issuing mass cards to issue their cards directly to consumers as they normally do without consumers having to visit a bank branch to activate their new biometric card.
SmartMetric is a United States-based company with sales and marketing partnerships in Latin America, Europe, and the United States. The engineering of the electronics of the biometric card is carried out in-house and is the intellectual property of the company.
SmartMetric has issued patents and pending patents relating to its biometric card technology.
EMV is a registered trademark of EMVCo
Safe Harbor Declaration: The forward-looking statements contained in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are also within the meaning of that term in section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate” , “Believe”, “estimate”, “predict”, “potential”, “continue”, “probably”, “will”, “will” and variations of these terms and similar expressions, or the negative of these terms or expressions similar. These forward-looking statements are necessarily based on estimates and assumptions which, while believed to be reasonable by us and our management, are inherently uncertain. Factors that could cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to finance current operations or implement our growth plans; changes in the competitive environment of our industry and the markets in which we operate; our ability to access capital markets; and other risks discussed in documents filed by the Company with the United States Securities and Exchange Commission, including our Annual Report on Form 10-K, the documents of which are available from the SEC. We caution you not to place undue reliance on forward-looking statements, which are made as of the date of this press release. We assume no obligation to publicly update any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make further updates with respect to such or other forward-looking statements. Investors and securityholders are urged to carefully examine and review each of the public documents filed by SmartMetric Inc. with the SEC, including, but not limited to, where applicable, the annual reports on the Form 10-K, Proxy Statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.