SmartMetric, Inc. (OTCQB: SMME): Years of research and development have gone into the design and creation of what SmartMetric considers the most advanced biometric card solution for the credit card industry ever developed.
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The use anywhere biometric protected credit / debit card by SmartMetric (Photo: Business Wire)
Having spent nearly two decades on research and development with almost half of this time taken in perfecting an internal rechargeable energy technology, the SmartMetric biometric card is the only card specifically designed to work across all credit card readers. This is because of the advanced internal power system that allows the SmartMetric card to scan and match the user's fingerprint prior to the card being inserted into a card reader. You may well ask why is this important for the real-world use and adoption of biometric credit cards? Simply put, from ATMs (Automatic Teller Machines) to now in the USA, gas pump chip credit and debit card readers invariably “swallow” the card in the card reading process. So why is this important in respect of powering a biometric fingerprint scan by the card? Some companies that have designed alternative biometric cards to that of the SmartMetric biometric card, have not spent the extraordinary time in research and development that SmartMetric has. As a result, they do not have an independent stand-alone internal power system inside their cards but rather rely on power from the card reader to power their fingerprint scanning function. So here in lies the inherent weakness and designed to fail of these companies’ biometric cards that rushed to copy the SmartMetric biometric credit card. They will not work with all ATMs and gas pumps across the United States. These alternative biometric cards need to be held inside the reader with the card user holding their finger on a surface sensor on the card while these non-self-powered cards draw power from the card reader to perform the biometric scan and match function.
“What we have created is the most advanced and superior biometric card technology that was designed for the real world card user, providing the ultimate security for the card users' card and absolute identity validation for the card users' bank, far beyond the simplistic and security weak four digit Personal Identification Number (PIN),” said SmartMetric’s President and CEO, Chaya Hendrick.
Chaya Hendrick further said, “We know of no USA card issuing bank that would withstand the customer push back if they even attempted to issue a biometric credit or debit card that could not be used at most ATMs or gas pumps.” The decades of research and development into a super thin, powerful miniature power storage and power management system by SmartMetric has without question made the SmartMetric biometric credit and debit card solution the most advanced biometric card in the world.
The SmartMetric card uses an almost paper-thin hybrid solid state battery connected to an advanced rapid charge power management system inside the card that allows the card to scan and match a person's fingerprint biometrics before the card is inserted inside the ATM or gas pump reader, making it the first and only biometric card solution that will work in these devices in the world.
“We could have ignored creating the internal power storage and power management system for the sake of expediency,” said Chaya Hendrick. “If we had done so, we could have easily released a biometric card many years earlier that was power dependent on the card reader and that would only work in card readers that didn’t 'swallow' the card. SmartMetric took the now correct decision to continue its research and development and create what is now the most advanced internal stand alone power system inside the biometric card that now allows the card to be used across all credit and debit card reading types.”
When the card user approaches the card reader, in a store, a gas pump or an ATM, they simply touch a sensor on the card's surface which automatically and in less than a quarter of a second scans, matches and then turns on the card, all in the time it takes for the card user to reach across to insert the card into the credit or debit card reader. Of course, if the user’s fingerprint doesn’t match the pre-stored fingerprint inside of the card, then the credit or debit chip card will not work, thereby providing the ultimate in credit and debit card security using the person's biometrics as the user validator and identifier for transactions, light years ahead of the much weaker old PIN used today.
SmartMetric is excited about its leading technology and is in the process of bringing its biometric card to the market.
The company has experienced supply chain and manufacturing delays of its latest iteration of its biometric card due to the pandemic and its lockdowns. However, the company is looking forward to release of its new card with its most advanced hybrid solid state battery in the coming weeks. It will then be presented to credit card networks for testing and approval.
SmartMetric has also developed advanced energy harvesting technology that takes the energy emitting from contactless card readers to power its biometric functions as secondary power source. More details on this will be disclosed in future media releases.
The SmartMetric hybrid solid state battery is recharged when the card is inserted into a standard credit card reader, thereby creating a never ending power and recharge circle as the card is being used. The card's internal battery can stay on standby with absolutely minimal power degradation. The lifetime of the card is more than 5 years, long after the standard use time of general plastic only credit and debit cards.
SmartMetric’s Biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo 1 reveal that by year end of 2020, 10.8 billion EMV® chip cards have been issued by financial institutions and were in global circulation – a massive increase of nearly 1 billion credit and debit EMV® cards compared to the previous twelve months.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com
1 Data Source: 10 Billion and Counting: What the Latest EMV® Chip Data Means for Global Payments - EMVCo
EMV is a registered trademark of EMVCo
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