SmartMetric Biometric Fingerprint Protected Credit Card Is The Only Biometric Credit Card That Can Be Used In ALL Card Readers

Rhea-AI Summary

SmartMetric, Inc. (OTC-PINK: SMME) has introduced a revolutionary biometric fingerprint-activated credit card that operates with all types of credit card readers, including ATMs. Unlike competing products that lack an internal power source, SmartMetric's card features a self-powered system, allowing it to function in various transaction scenarios without user intervention. The company emphasizes that its card addresses the growing demand in the multibillion-dollar chip-based card market, with over 10.8 billion EMV chip cards in circulation by 2020. SmartMetric holds multiple patents for its innovative technology.

Positive

• SmartMetric's biometric credit card works with all card readers, providing versatility for users.
• The card features an internal rechargeable power system, enhancing usability at ATMs and restaurants.
• SmartMetric's technology is patented, offering a competitive edge in the biometric credit card market.
• The card targets the growing EMV chip card market, which had over 10.8 billion cards in circulation by 2020.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTCQB: SMME): biometric fingerprint activated credit card is the only biometric credit card that works with all types of credit card readers, including ATMs, in the world.

Recent entrants into the biometric credit card field attempting to copy the SmartMetric Biometric Card have developed fingerprint activated cards that can not be used in all situations that a card user may want to use their card. The limitation is because the European developed cards do not have an internal power source. Instead they must be inserted into a card reader in order to work and perform a fingerprint scan. Unbelievably these cards need the card user to be touching the card's fingerprint sensor while it is inserted in the card reader to work.

This restricts their credit card from working at ATMs that “swallow” the card in whole as well as restaurants that take the card from the table to the front desk to process a card payment.

“An ill conceived biometric credit card that has serious limitations on where a card holder can use it will without a doubt fail as a real life usable product," said SmartMetric’s President and CEO, Chaya Hendrick, today.

“We could have launched a simple biometric credit card that solely relied on the power of a card reader for powering the biometric fingerprint scan, years ago. SmartMetric made the decision for a biometric credit card to be adopted by card issuers and card users alike, it needed to work in all situations that a consumer would like to use their card," said Chaya Hendrick.

SmartMetric has spent a great deal of time and effort in research and development to build into its biometric fingerprint card an internal rechargeable power system that allows its card to be used in all types of card reading situations, even at ATMs that swallow the card as well as sitting at a restaurant table where they take the card from the table to a card reader for processing. In this situation the card holder simply touches the card's fingerprint sensor, the user's fingerprint is scanned and with a biometric match the card is turned on. The card is handed over to the restaurant staff member as a now biometric activated credit card who is then able to take the card away from the table to be processed at the restaurant's card reader.

“We know of no bank that would want to run the risk of facing an outcry from its customers when they find that they can not use their 'biometric' card at their favorite restaurant or when they need to use it at an ATM," said SmartMetric’s President.

The SmartMetric biometric credit card is the only self powered card in the world that a bank can issue to its customers knowing that it will work for their customers anywhere and anytime they want.

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 EMVCo ¹ 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/20220216005836/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's biometric credit card solution?

SmartMetric's biometric credit card operates with all types of credit card readers and features a self-powered system, allowing it to function without user intervention.

How does SmartMetric's biometric card compare to competitors?

Unlike competitors, SmartMetric's biometric card does not require the user to touch the fingerprint sensor while in the card reader, allowing wider usage.

What market does SmartMetric's biometric card address?

SmartMetric's biometric card addresses the multibillion-dollar chip-based credit and debit card market with over 10.8 billion EMV cards in circulation by 2020.

Does SmartMetric hold any patents for its technology?

Yes, SmartMetric has issued patents and patents pending surrounding its biometric card technology.

What advantages does SmartMetric's card offer to banks?

SmartMetric's card minimizes the risk of customer dissatisfaction by ensuring it works in various real-life scenarios, reducing the chance of complaints.