SmartMetric Biometric Card Brings Fingerprint Recognition Security to the Next Generation of Safe to Use Credit and Debit Cards

Rhea-AI Summary

SmartMetric, Inc. (OTCQB: SMME) has developed a biometric fingerprint scanner that integrates into credit and debit cards, enhancing security features at a crucial time when consumer concerns rise about card safety. The dual interface card operates with standard card readers and wirelessly via RFID, allowing for rapid fingerprint verification and energy harvesting. SmartMetric aims to address the growing multibillion-dollar market for EMV chip cards, with 10.8 billion such cards issued globally by 2020. The company holds multiple patents concerning this innovative technology.

Positive

• Innovative biometric card addresses consumer safety concerns.
• Patented technology offers a competitive edge in a multibillion-dollar market.
• Dual interface card compatible with all types of card readers enhances usability.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTCQB: SMME), having developed a miniature fully functional fingerprint scanner that fits inside a credit and debit card, brings the power and security of biometric technology for the next generation of credit and debit cards.

Consumer research has shown that credit card users are seriously concerned about the safety of their credit card. Having a biometric protected credit card is bringing high level security technology to the credit card industry that meets the concern of the consumer for better safety and security.

The SmartMetric biometric activated credit/debit card uses standard credit card readers and ATMs where the card is inserted into the reader as well as operating wirelessly using the credit and debit card reader’s 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 is called a contact card. 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.

SmartMetric has created a dual interface biometric fingerprint activated “dual interface” card that can be easily used across all credit and debit card reader types. Further, the SmartMetric 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 SmartMetric card harvests power from the RFID electronic field being emitted from the card reader. This energy is used to power the card’s 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 card’s internal battery.

In the case of the card being inserted into a standard credit/debit card reader or ATM the SmartMetric 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 SmartMetric biometric card a truly all situations and all card reading types solution for card issuing banks, said today SmartMetric’s President and CEO, Chaya Hendrick.

Because the SmartMetric 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, SmartMetric 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.

SmartMetric’s Biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo¹ 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 is a USA based company with sales and marketing partnerships in Latin America, Europe and United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.

SmartMetric has issued patents and patents pending surrounding 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

¹ Data Source: 10 Billion and Counting: What the Latest EMV^® Chip Data Means for Global Payments - EMVCo
EMV is a registered trademark of EMVCo

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/20220228005968/en/

SmartMetric, Inc.

Chaya Hendrick

Tel: (702) 990-3687 or (305) 607-3910

ceo@smartmetric.com

www.smartmetric.com

Source: SmartMetric, Inc.

FAQ

What is SmartMetric, Inc. known for?

SmartMetric, Inc. is known for developing a biometric fingerprint scanner that fits inside credit and debit cards, enhancing security.

How does the SmartMetric biometric card work?

The SmartMetric biometric card works with standard card readers and wirelessly using RFID to allow rapid fingerprint matching.

What market does SmartMetric target?

SmartMetric targets the multibillion-dollar chip-based credit and debit card market.

How many EMV chip cards were issued by the end of 2020?

By the end of 2020, 10.8 billion EMV chip cards were issued globally.

What advantages does the dual interface card provide?

The dual interface card allows for both contact and contactless transactions, enhancing usability across various card readers.