- Biometric Fingerprint Scanning for Credit & Debit Card Fraud Protection.
- US Patent Office Protection Granted to Prevent Copy-Cat Versions.
- The Only Biometric Credit Card That Can Be Used in ALL Card Readers.
- Working with One of the World’s Largest Credit Card Network Brands.
- Sales and Marketing Partnerships in Latin America, Europe and the US.
- Introducing Multi Function Contact & Contactless Biometric Fingerprint Card Tech Using Energy Harvesting with Internal Battery.
SmartMetric, Inc. (OTCQB: SMME) Is the only United States based biometric card manufacturing company addressing the existing credit and debit card market that now exceeds more than 1.6 billion 1 issued cards.
Based on consumer research commissioned by SmartMetric, Inc., nearly 70% of existing chip credit card holders would pay over $60.00 for a credit card that has inbuilt fingerprint biometric protection technology such as that manufactured by SmartMetric. Halving these estimates, it is conceivable to see that the future sales and revenue for the SmartMetric biometric secured credit/debit card would be greater than $33 billion for the USA market alone.
A ten percent adoption rate of safer biometric credit cards by US consumers would see revenues of over $9 billion based on the consumer research showing what consumers are willing to pay for upgraded biometric based card security. But if a more pessimistic adoption figure of only 1% is used the projected revenues on this would be $960 million.
Based on the perceived increase in anti-fraud protection that the SmartMetric biometric card brings to card users, the SmartMetric commissioned research shows a massive potential user adoption by users of credit and debit cards in the United States alone, said SmartMetric’s President and CEO, Chaya Hendrick.
SmartMetric makes no claims as to future revenues or sales based on this market research and analysis.
SmartMetric has invested over $30 million dollars in developing its fingerprint activated credit card and is now in talks with major payments networks regarding its cards use on their respective global networks.
The USA market for credit cards while being large at 1.6 billion cards and growing is a fraction of the number of all chip-based cards issued globally. However the United States leads the world in the dollar value of transactions made using credit and debit cards.
Figures published by EMVCo 2 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.
SmartMetric has licensed issued patents and patents pending as well as trade secrets protecting its biometric card technology.
To view the SmartMetric Biometric Card please follow this link – Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com
SMME Fingerprint Biometric Credit Cards Issued Design Patents Protection
On February 23rd SMME reported it has been granted by the United States Patent Office design patents that carve out protection against would-be copycats.
Having spent nearly two decades on research and development to create a biometric solution inside a credit card, SMME has been awarded USPTO design patents that protect the company from any competitive company that would seek to introduce a smartcard or credit card with a Fingerprint Sensor on the card’s surface.
“We started developing a biometric credit card to use a person’s Fingerprint to activate the card’s chip before chip-based cards were even thought of being used in Banking,” said SMME President and CEO, Chaya Hendrick.
“This was a fringe idea when we first started while our first prototype was two inches thick. Most thought we were mad even thinking there would be a need for such a product,” said Ms. Hendrick. “After years of research and development we now find ourselves as the world leader in what is recognized as the next big thing in the credit card industry,” said the SMME CEO.
There are now over 11 billion chip-based cards issued worldwide for which the SMME biometric inside the chip card is able to bring the next level of biometric security.
- The SMME Biometric Fingerprint Protected Credit Card is The Only Biometric Credit Card That Can Be Used in ALL Card Readers
On February 16th SMME announced that its biometric fingerprint activated credit card is the only biometric credit card that works with all types of credit card readers, including ATMs.
Recent entrants into the biometric credit card field attempting to copy the SMME Biometric Card have developed fingerprint activated cards that can not be used in all situations that a card user may want to use their card. The limitation is because the European developed cards do not have an internal power source. Instead they must be inserted into a card reader in order to work and perform a fingerprint scan. Unbelievably these cards need the card user to be touching the card’s fingerprint sensor while it is inserted in the card reader to work.
SMME has spent a great deal of time and effort in research and development to build into its biometric fingerprint card an internal rechargeable power system that allows its card to be used in all types of card reading situations, even at ATMs that swallow the card as well as sitting at a restaurant table where they take the card from the table to a card reader for processing. In this situation the card holder simply touches the card’s fingerprint sensor, the user’s fingerprint is scanned and with a biometric match the card is turned on. The card is handed over to the restaurant staff member as a now biometric activated credit card who is then able to take the card away from the table to be processed at the restaurant’s card reader.
The SMME biometric credit card is the only self powered card in the world that a bank can issue to its customers knowing that it will work for their customers anywhere and anytime they want.
The SMME 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.
- Combined Multi Function Contact & Contactless Biometric Fingerprint Activated Credit Card Using Energy Harvesting and Internal Battery
On January 26th SMME announced it has developed a biometric activated credit/debit card that uses standard credit card readers and ATM’s where the card is inserted into the reader as well as operating wirelessly using the credit and debit card readers RFID reading capability.
Credit and debit cards that are used in the standard credit card reader where the user puts the credit card into a physical slot on the card reader are called a contact cards. A credit and debit card that isn’t inserted into a card reader but rather is held over the top of the reader is called a contactless card. This operates on an RFID emission from the reader that reads an internal RFID chip sitting inside the card. Cards that have both contact function as well as the non-contact function are called dual interface cards.
SMME has created a dual interface biometric fingerprint activated “dual interface” card that can be easily use across all credit and debit card reader types. Further the SMME dual interface biometric card allows for multi sourced power and power recharging. When being used contactless by bringing the card into the proximity of a contactless card reader then the SMME card harvests power from the RFID electronic field being emitted from the card reader. This energy is used to power the cards internal processor used to perform the rapid sub one second biometric fingerprint match. Importantly, not only is the card powered through this wireless energy emission but excess power is harvested wirelessly to recharge the cards internal battery.
In the case of the card being inserted into a standard credit/debit card reader or ATM the SMME card is able to draw power directly from the card reader providing a rapid recharge of the card’s internal battery. The card’s internal battery is used to power a fingerprint scan by the card prior to its insertion into the card reader or ATM.
A dual interface card with both contact and contactless energy acquisition is something that makes the SMME biometric card a truly all situations and all card reading types solution for card issuing banks. This takes the credit card security to the next level beyond the less secure PIN number that is used today on credit and debit cards. Using biometric technology built into the card is a giant leap forward for credit and debit card security.
Because the SMME biometric card allows the card to be used in all real-life situations and isn’t bound to being held by the user while a transaction is taking place, SMME confidently believes that its biometric card solution is truly the most advanced and leading biometric card product in the world and the only truly practical biometric card solution for consumers and banks alike.
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.
- Biometric Credit Card with on the Card Fingerprint Recognition
On January 18th SMME announced in order to combat the ever-increasing battle against credit card fraud the company embarked on developing a safer and more secure credit card that has built inside of it real time instant user biometric fingerprint recognition.
The SMME credit card’s surface mounted chip is only able to work following an exact match of the card user’s fingerprint that has been prestored inside of the credit card. This means the card’s transaction chip is unable to function and complete a transaction if there is no biometric fingerprint match with the card user.
What sets the SMME biometric card solution apart from the one or two biometric card companies trying to mimic the SMME biometric credit card is that the SMME card is designed with its own internal power source. This enables the card to function and perform the fingerprint scan prior to the card being inserted into a reader. Allowing the card to be used at regular ATMs and in situations where the card is used in places like a restaurant where the card is taken away from the dining table to be processed. Touch and store read once technology developed by SMME for its biometric card allows mass card issuing financial institutions to issue their cards direct to the consumers as they normally do without the need for consumers to come into a bank branch to activate their new biometric card.
- Biometric Credit Cards are the Next Big Thing for the Banking Industry
On January 6th SMME announced according to independent consumer research contracted by SMME, 80% of U.S. cardholders are seriously concerned about credit card and identity theft, and 67% say they wouldn’t mind paying for biometric cards.
Research by Visa is in line with SMME research.
- More than 65% of consumers are already familiar with biometrics
- 86% are interested in using biometrics to verify identities or make payments
- 70% believe that biometrics are easier than using passwords or PINs
SMME Says the Continued Blow Out in the Cost of Fraud for United States Merchants, Now Estimated at More Than $39 Billion, Is Unsustainable
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Company Name: SmartMetric, Inc.
Contact Person: Media Relations
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