Biometric Fingerprint Secured Credit Card Manufacturer SmartMetric Reports up to 80% of USA Credit Cards Have Been Compromised

Rhea-AI Summary

SmartMetric, Inc. (OTC: SMME) leads in biometric credit card technology with an advanced card featuring a rechargeable battery for fingerprint scanning. The card offers enhanced security against data breaches and fraud, with easy fingerprint enrollment. Market research indicates high user willingness to pay for biometric cards. SmartMetric is nearing commercialization with mass production capabilities.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME): Up to 80% of all credit cards in circulation have been compromised. Studies suggest that as many as eight in ten credit cards that are currently issued have already been compromised by some sort of hack or data breach.¹

SmartMetric leads the world in biometric credit card technology in having developed a biometric credit card that has an internal rechargeable battery that is used to power the fingerprint scanning of the card user independent of card reading terminals and ATMs. This allows the SmartMetric biometric card to be able to used “anywhere and anytime” a card holder wants to use their new biometric card.

“With so many credit card data breaches leaving a card holders credit card information in the hands of card fraud criminals, the use of on card biometric identity validation security, has become a necessity," said SmartMetric’s President and CEO, Chaya Hendrick.

The advanced SmartMetric biometric card has many other features not least is its hardware-based detection of a live finger. This provides the card with added security against fake fingerprint replicas making the SmartMetric biometric card the most secure card developed.

SmartMetric’s card enrolls a user’s fingerprint easily and as frictionless as experienced when enrolling a fingerprint on a smart phone. On receipt of the card, the user simply touches the card's fingerprint sensor four times. This stores the user's fingerprint permanently in the card making the card only useable when the owner of the card touches the sensor to turn on the card at the time they wish to make a payment.

In Q4 2022, credit card users reached a total of 166 million according to TransUnion, up from the prior three years. Among those users, new card accounts are growing, too. Over the past year, nearly half the population (47.5%) opened at least one new account, bringing the total number of accounts to over 518 million by the end of 2022 in the United States. ²

Market research has shown that 70% of current credit card users are willing to pay $70.00 for a biometric fingerprint secured credit card. The single largest motivation is wanting to be more secure and better protected against credit card fraud.

SmartMetric will soon be offering its biometric credit card product with an inbuilt inside the card fingerprint scanner. The SmartMetric biometric credit card is in the final stages of the card's lamination process. The credit card lamination is where the card's circuit board and electronics are encased in credit card plastic. This is the last stage of the manufacturing process which will allow SmartMetric to start to present its completed biometric GEN4 card to credit card issuers.

SmartMetric has set up its production to allow for mass card production. The company is now able to manufacture over a million cards per month with this being able to be increased substantially over the next 6 months.

“We are excited to have finally reached the stage of commercialization of our one of a kind advanced fingerprint activated biometric credit card," said SmartMetric’s President and CEO, Chaya Hendrick.

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 https://merchantcostconsulting.com/lower-credit-card-processing-fees/credit-card-fraud-statistics/

² Credit Card Statistics And Trends 2023 – Forbes Advisor

Safe Harbor Statement: Forward-Looking Statements 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. Also such forward-looking statements are 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 the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly 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 additional updates with respect to those or other forward-looking statements. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240321415038/en/

SmartMetric, Inc.

Chaya Hendrick

Tel: (702) 990-3687 Mobile: 305.607.3910 Pacific Time

ceo@smartmetric.com

www.smartmetric.com

Source: SmartMetric, Inc.

FAQ

What is the ticker symbol for SmartMetric?

The ticker symbol for SmartMetric is 'SMME'.

What technology does SmartMetric specialize in?

SmartMetric leads in biometric credit card technology.

How does the SmartMetric biometric credit card enhance security?

The card features a rechargeable battery for fingerprint scanning and hardware-based detection of a live finger, offering added security against fraud.

What is the user enrollment process for the SmartMetric biometric card?

Users can easily enroll their fingerprint by touching the card's fingerprint sensor four times.

What stage is SmartMetric at in the manufacturing process of the biometric credit card?

SmartMetric is in the final stages of the card's lamination process, encasing the circuit board and electronics in credit card plastic.