SmartMetric Biometric Credit and Debit Card With Inbuilt Fingerprint Recognition Secure Activation to Release Both Plastic and Metal Versions

Rhea-AI Summary

SmartMetric, Inc. is preparing to ship its advanced fingerprint activated credit and debit cards to the credit card industry. The company will offer both standard plastic and premium metal biometric cards. The metal biometric card is the only one of its kind in the world with embedded fingerprint scanner electronics. Market research shows that 70% of current credit card users are willing to pay $70 for a biometric secured credit card. The number of credit card accounts open in the United States is at an all-time high of 564,500,000.

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• SmartMetric is nearly ready to ship its advanced fingerprint activated credit and debit cards, including a premium metal biometric card. Market research shows that 70% of current credit card users are willing to pay $70 for a biometric secured credit card.

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NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME), following over a decade of research and development, is nearly ready to ship its advanced fingerprint activated credit and debit cards to the credit card industry.

“We are excited that after all these years of product development we are near shipping of not only our standard credit and debit card product as well as our premium version that is made of metal,” said SmartMetric’s President and CEO, Chaya Hendrick.

The SmartMetric metal biometric card is the only one of its kind in the world that has embedded inside the metal the fingerprint scanner electronics at an extraordinary level of miniaturization and component slim height.

Creating a metal biometric credit card best fits the needs of the premium credit card market making it an attractive product for the high end credit card consumer who has become used to thinking of metal credit cards as a premium card product they are happy to have in their wallets.

“As with all new technology products SmartMetric believes that the top end of the market will be the first large scale adopters and therefor having our biometric card in metal makes sense for addressing this market,” said Chaya Hendrick.

SmartMetric will continue to bring to market its standard plastic biometric credit card but in addition will offer its premium metal biometric credit card to card issuing financial institutions’.

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 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.

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 100s 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.com¹ 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/20231016656873/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 type of biometric cards is SmartMetric preparing to ship?

SmartMetric is preparing to ship both standard plastic and premium metal biometric cards.

What is unique about the SmartMetric metal biometric card?

The SmartMetric metal biometric card is the only one of its kind in the world with embedded fingerprint scanner electronics.

What percentage of current credit card users are willing to pay $70 for a biometric secured credit card?

70% of current credit card users are willing to pay $70 for a biometric secured credit card.

How many credit card accounts are open in the United States?

There are currently 564,500,000 credit card accounts open in the United States, which is an all-time high.