SmartMetric Biometric Chip Credit Card Addresses the Existing and Growing 1.6 Billion Chip Credit/Debit Cards Issued in the United States

Rhea-AI Summary

SmartMetric, Inc. (OTCQB: SMME), a US-based biometric card manufacturer, reports strong consumer interest in its fingerprint-secured credit cards. Research shows nearly 70% of current chip card users would pay over $60 for enhanced biometric security, suggesting a potential revenue of over $33 billion for the US market. A 10% adoption rate could yield revenues exceeding $9 billion, while even a 1% adoption could result in $960 million. The company has invested over $30 million in developing its technology and is negotiating with major payment networks.

Positive

• Strong consumer interest: 70% of chip card holders willing to pay over $60 for biometric security.
• Projected revenue potential for the biometric card market in the US could exceed $33 billion.
• Investment of over $30 million in biometric card development.
• Negotiating with major payment networks for global use of their biometric cards.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTCQB: SMME): Is the only United States based biometric card manufacturing company addressing the existing credit and debit card market that now exceeds more than 1.6 billion ¹ issued cards.

Based on consumer research commissioned by SmartMetric, Inc., nearly 70% of existing chip credit card holders would pay over $60.00 for a credit card that has inbuilt fingerprint biometric protection technology such as that manufactured by SmartMetric. Halving these estimates, it is conceivable to see that the future sales and revenue for the SmartMetric biometric secured credit/debit card would be greater than $33 billion for the USA market alone.

A ten percent adoption rate of safer biometric credit cards by US consumers would see revenues of over $9 billion based on the consumer research showing what consumers are willing to pay for upgraded biometric based card security. But if a more pessimistic adoption figure of only 1% is used the projected revenues on this would be $960 million.

Based on the perceived increase in anti-fraud protection that the SmartMetric biometric card brings to card users, the SmartMetric commissioned research shows a massive potential user adoption by users of credit and debit cards in the United States alone, said SmartMetric’s President and CEO, Chaya Hendrick.

SmartMetric makes no claims as to future revenues or sales based on this market research and analysis.

SmartMetric has invested over $30 million dollars in developing its fingerprint activated credit card and is now in talks with major payments networks regarding its cards use on their respective global networks.

The USA market for credit cards while being large at 1.6 billion cards and growing is a fraction of the number of all chip-based cards issued globally. However the United States leads the world in the dollar value of transactions made using credit and debit cards.

Figures published by EMVCo ² 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 has licensed issued patents and patents pending as well as trade secrets protecting 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 Quick_Resource_Introduction_to_EMVCo_SEP21_US.pdf
² 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/20220321005764/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. (SMME) focused on?

SmartMetric, Inc. focuses on manufacturing biometric credit and debit cards with fingerprint protection.

What are the projected revenue figures for SmartMetric's biometric cards?

Projected revenue for SmartMetric's biometric cards could exceed $33 billion in the US market.

How much has SmartMetric invested in its biometric card technology?

SmartMetric has invested over $30 million in developing its fingerprint-activated credit card.

What percentage of chip card users would pay more for biometric protection?

Nearly 70% of chip card users would pay over $60 for a biometric credit card.

What is the potential revenue from a 10% adoption rate of SmartMetric's cards?

A 10% adoption rate could lead to revenues exceeding $9 billion.