SmartMetric After Years of Research and Development Is Pleased to Announce That It Has Passed All Internal Product Testing of Its GEN4 Fingerprint Activated Credit Card

Rhea-AI Summary

SmartMetric, Inc. (OTC: SMME) has announced the imminent release of its GEN4 fingerprint activated credit card, which has passed all internal electronic and software testing. The card is the first truly biometric credit card with its own internal rechargeable battery, designed to combat the growing issue of credit card fraud. With 151 million Americans falling victim to credit card fraud, SmartMetric's innovative biometric credit card aims to provide a secure and convenient payment solution for consumers.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME), with the imminent release of its ground-breaking, industry-leading, fully self-powered GEN4 fingerprint activated credit card, is excited to announce that the product has passed all internal electronic and software testing. This includes the card's own internal system operating system and advanced submicro power management system.

“In order to have a robust product we have had to subject it to the most diligent and exhaustive in-house testing,” said SmartMetric’s President and CEO, Chaya Hendrick.

“Our GEN4 Fingerprint Activated Biometric Credit Card stands to become the world leader in fully self powered biometric cards,” said Chaya Hendrick.

SmartMetric is the first truly biometric credit card having its own internal rechargeable battery that allows the card to operate at all card readers, including ATMs and gas pumps.

“The SmartMetric GEN4 biometric credit card uniquely has an internal hardware system that detects if the finger being used is in fact a real live finger. No live finger confirmation, no card use activation,” said Chaya Hendrick.

One of the biggest problems facing the credit card industry and its consumers is ongoing outbound growth in card fraud.

Reports on credit card fraud are continuing to show an exponential growth in fraud rates in the United States. According to a report released this year by Security.org¹ 151 million Americans have fallen victim to credit card fraud.

The SmartMetric biometric credit card is the only advanced biometric payments card product with an internal rechargeable battery that allows the card to be used in all card usage cases such as restaurants and ATMs. Having its own power inside the card allows the SmartMetric biometric card to work prior to the card being inserted into a card reader.

The SmartMetric biometric fingerprint recognition technology built inside of the credit and debit card uses embedded biometric technology built by SmartMetric to positively recognize the card holder and then only after a positive fingerprint recognition, turn on the card's EMV contact and contactless payments chip.

According to an article published by Finder.com ² the number of credit card accounts open in the United States is 564,500,000. This is an all-time high for the United States.

The average American owns three credit cards. 83% of Americans own at least one credit card. 14% of Americans own at least 10 credit cards.

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 2023 Credit Card Fraud Report | Security.org
² 2023 Credit card debt and spending statistics in the US | finder.com

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/20231207060923/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, Inc.?

The ticker symbol for SmartMetric, Inc. is OTC: SMME.

What is the GEN4 fingerprint activated credit card?

The GEN4 fingerprint activated credit card is a biometric credit card with its own internal rechargeable battery, designed to combat credit card fraud.

How many Americans have fallen victim to credit card fraud?

According to Security.org, 151 million Americans have fallen victim to credit card fraud.

What is the average number of credit cards owned by Americans?

According to Finder.com, the average American owns three credit cards.

What is the company website for SmartMetric, Inc.?

The company website for SmartMetric, Inc. is www.smartmetric.com.