SmartMetric, Inc. (OTCQB: SMME), having been confronted with a continuity of delays and obstacles in component delivery along with physical issues with supply chain and component manufacturing, is pleased to inform that while it has experienced delays, it is on track to imminently have its new biometric payments card come out of its factory in East Asia.
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SmartMetric Biometric Credit Card Circuit Board (Photo: Business Wire)
Due to the plethora of delays mainly attributed to supply chain issues coupled with factory shut downs, SmartMetric welcomes the change in Government policy where our electronics are assembled to no longer force factory shutdowns. This will allow SmartMetric to move forward with greater certainty in its product manufacturing.
Going forward, SmartMetric has taken steps to onboard card manufacturing in the United States, while at the same time keeping in place its Far East high-volume capacity. SmartMetric with its overseas factory is able to produce a million cards a month. With additional relationships in the USA, the company will be able to ensure protection from any future manufacturing disruption while at the same time increase its unit monthly production capabilities.
The SmartMetric biometric credit card solution is without a doubt without peers in the world of biometric cards. Years of research and development, with a clear objective of creating a best-in-class biometric card solution with a user centric focus, has given SmartMetric an unbelievable new credit card category product.
“Bringing a brand-new type of credit card into existence and that meets the approval and licensing requirements of the credit card industry is no small feat. However, we are excited with the incredible prospects for the company as we move forward with our amazing next generation credit card with its built-in biometric fingerprint security,” said SmartMetric’s President and CEO, Chaya Hendrick.
SmartMetric’s Biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo 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 company website: www.smartmetric.com
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