SmartMetric Announces It Has Received Export Approval for Its Biometric Card Following Testing and Authorization of Its Hybrid Solid State Rechargeable Battery Used in Its Advanced Biometric Fingerprint Activated Credit Card

Rhea-AI Summary

SmartMetric, Inc. receives clearance to ship its biometric card with inbuilt rechargeable hybrid battery, boosting credit card security and usability.

Positive

• SmartMetric's biometric card is the only one with a rechargeable battery, allowing it to be used in all card usage cases.
• Market research shows that 70% of credit card users are willing to pay $70.00 for a biometric secured credit card.
• The number of credit card accounts open in the US is at an all-time high of 564,500,000.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME) having spent months with regulators which involved extensive battery testing for airfreight clearance, the company is pleased to announce that it has received clearance to now ship its biometric card with its inbuilt rechargeable hybrid battery,

“We are very excited to have now overcome this last remaining hurdle to bring our advanced biometric fingerprint activated card to market,” said SmartMetric’s President and CEO, Chaya Hendrick.

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 ATM’s. 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 card user simply places their finger on the surface of the card, in less than a second the card reads the users fingerprint and matches with card holders’ fingerprint permanently stored inside the card encrypted memory. “Only the legitimate card holder is able to turn on the card providing a level of credit card security way beyond existing credit cards,” said Chaya Hendrick.

When SmartMetric first started on building its prototype biometric credit card over a decade ago, the overall thickness of the electronics was four times the thickness of a standard credit card. The company says that its overall thickness and profile of its electronics including the board and its internal battery is now less than one third the thickness of a standard credit card.

The SmartMetric rechargeable battery inside the biometric credit card allows the card to be used across all standard credit card readers at stores, gas pumps and even ATM’s. Unlike non powered biometric cards that rely on drawing power from card readers in order to perform a biometric identification function thereby limiting the cards used and making it unworkable in most restaurants, gas pumps and ATM’s.

Situations where the card is taken from the table in a restaurant or swallowed whole by the card reading device such as at a gas pump or ATM makes a card that does not have an internal rechargeable battery unworkable. That is why we have spent so much time and effort in including a rechargeable power source inside our biometric card that also includes a rapid rechargeability each time the card is inserted inside a credit card reader after it has already been turned on by the card holder’s fingerprint according to SmartMetric.

The latest battery for the SmartMetric biometric card is going through final licensing and approvals for shipment via air from the SmartMetric assembly plant.

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

Market research has shown that 70% of current credit card users are willing to pay $70.00 for a biometric secured credit card. This is a low pricing limit with higher pricing for the card from banks to consumers very possible. The same research showed that nearly 70% of the existing 100’s of millions of credit card users would prefer to use a biometric credit card for the added sense of security that a biometric card brings.

According to an article published by Finder.com ¹ 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 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/20230921199989/en/

SmartMetric, Inc.

Chaya Hendrick

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

ceo@smartmetric.com

www.smartmetric.com

Source: SmartMetric, Inc.