SmartMetric is a leader in advanced biometric fingerprint-activated credit cards and sees bank adoption in 2022 as the next big thing in the credit card industry | Business Wire China

2021-12-16 07:49:03 By : Ms. Linda Wang

New York--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB: SMME): As a leader in fingerprint-activated biometric credit cards, the company regards 2022 as the year when major credit card issuing banks in the world will move forward. Use these advanced cards based on biometric technology.

According to an independent market survey commissioned by SmartMetric, nearly seventy percent (70%) of existing credit card holders in the United States are willing to pay seventy U.S. dollars (70 U.S. dollars) for such cards. Consumer research has shown that the biggest motivation for consumers to purchase biometric secure credit cards is the extra sense of security these cards bring to credit card users.

At present, nearly 11 billion cards based on EMV chips have been issued and used worldwide. A small adoption rate of only one percent (1%) will result in the issuance of more than 100 million fingerprint biometric credit cards in the future.

SmartMetric is now working with one of the world's largest credit card network brands to get its credit card officially approved. This will allow SmartMetric biometric cards to be provided to banks around the world that use the credit and debit card network for card transactions.

SmartMetric, like many people in the technical manufacturing field, has encountered difficulties in the supply of components. These difficulties have now been overcome, and SmartMetric is considering moving forward in early 2022 to supply its next-generation biometric cards to card issuers worldwide.

Built-in credit card, fingerprint reader, when you touch the sensor on the surface of the card, it will scan your fingerprint in less than a second. Then match your fingerprint with the fingerprint stored in the card. When the match occurs, your card will be opened. Instant and secure user verification goes beyond the use of a PIN to protect the use of credit or debit cards for transactions.

The SmartMetric biometric card solution is different from other solutions in that it is designed with its own internal power supply. This enables the card to run and perform a fingerprint scan before inserting the card into the card reader. This allows the card to be used on an ordinary ATM machine, or in restaurants and other places where the card is removed from the table for processing.

"When developing the SmartMetric biometric card, we were particularly aware that in order for the issuing bank and consumers to adopt the card, the card needs to work properly under all actual conditions of all card reading devices (including ATMs and restaurants)," Said SmartMetric President and CEO Jaya Hendrick.

SmartMetric biometric cards do not only use sub-microelectronic devices in the card to verify the identity of the card user. It has a large memory and a very fast processor, making the card an exciting new technology platform for advanced multi-applications executed on credit or debit cards. Bringing new dimensions of advanced products to credit card issuers.

SmartMetric's biometric card addresses the existing multi-billion chip-based financial card market.

Data released by EMVCo 1 shows that by the end of 2020, financial institutions have issued 10.8 billion EMV® chip cards and are in circulation around the world-compared with the previous twelve months, credit and debit card EMV® cards have increased significantly by nearly 1 billion Sheet.

In addition, EMVCo reports that 86% of card-holding transactions worldwide use EMV® chip technology. This is based on data available from American Express, Discover, JCB, Mastercard, UnionPay and Visa. It should be noted that 86.1% of global transactions are EMV chips.

SmartMetric foresaw the global adoption of credit and debit cards with chips. More than ten years ago, it began to develop a biometric fingerprint scanner small enough to fit in a credit card. "It is a long process to shrink electronic devices to a miniature size of less than 0.3 mm so that they can fit in a credit card that complies with the ISO standard for this type of card, but we are very pleased that we set out to achieve this goal," SmartMetric President and Chief Executive Officer The executive said today that Jaya Hendrick.

The fingerprint scanner in the SmartMetric card allows the card's chip to work only after successfully scanning and matching the card user's fingerprint. Unlike other biometric cards, the SmartMetric card does not require the cardholder to go to the bank branch to store fingerprints on the new biometric card. Instead, SmartMetric biometric cards allow card users to register their fingerprints the first time they receive them at home, just like registering fingerprints on a smartphone.

SmartMetric's touch and storage read-once technology developed for its biometric cards allows mass-issued financial institutions to directly issue cards to consumers as usual, without the consumers having to enter a bank branch to activate their new biometric card.

SmartMetric is a US-based company with sales and marketing partnerships in Latin America, Europe, and the United States. The engineering of biometric card electronic equipment is done in-house and is the intellectual property owned by SmartMetric.

SmartMetric has issued patents and pending patents for its biometric card technology.

To view the SmartMetric Biometric Card, please click on this link-SmartMetric Biometric Card Video. Check the company website:

1 Data source: 10 billion and counting: What does the latest EMV<sup>®</sup> chip data mean for global payments-EMVCo

EMV is a registered trademark of EMVCo

Safe Harbor Statement: The forward-looking statements in this press release are not historical facts and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements also fall within the meaning of this 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 in these forward-looking statements. In some cases, you can identify forward-looking statements by using words such as "may", "may", "anticipate", "intend", "plan", "seek", "expect", "believe", etc. "Estimate", "predict", "potential", "continue", "may", "will", "will" and variants of these terms and similar expressions, or the negation of these terms or similar expressions. Such forward-looking statements are necessarily based on estimates and assumptions. Although we and our management believe that these estimates and assumptions are reasonable, they are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among other things, whether we are unable to obtain funds required to fund current operations or implement growth plans; changes in the competitive environment of our industry and the markets in which we operate; we The ability to access capital markets; and other risks discussed in the company’s filings with the US Securities and Exchange Commission, including our annual report on Form 10-K, which are available from the SEC. We remind you not to rely too much on any forward-looking statements as of the date of this press release. We have 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, unless required by applicable law. If we update one or more forward-looking statements, it should not be inferred that we will make additional updates to these or other forward-looking statements. Investors and securities holders are urged to carefully review and consider every public document submitted by SmartMetric Inc. to the US Securities and Exchange Commission, including but not limited to (if applicable) Form 10-K Annual Report, Power of Attorney, Form 8-K Current report and quarterly report on Form 10-Q.

SmartMetric, Inc. Chaya Hendrick Tel: (702) 990-3687

SmartMetric, Inc. Chaya Hendrick Tel: (702) 990-3687