SmartMetric Fingerprint Activated Biometric Card Nears Shipping

Rhea-AI Summary

SmartMetric, Inc. is set to release its advanced biometric fingerprint activated credit card after overcoming Covid-related delays. The market size for such cards is in the multi-100's of millions, with up to 70% of existing cardholders interested in purchasing one. SmartMetric has dedicated over a decade to perfecting the miniaturization of its biometric card electronics.

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• SmartMetric is nearing the release of its advanced biometric fingerprint activated credit card, which has a potential market size of multi-100's of millions of cards. Up to 70% of existing cardholders are interested in buying a card with built-in biometric security.

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• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME) is soon to ship its completed advanced biometric fingerprint activated credit card. This is after extreme delays brought on by Covid related component delays.

“We are excited to be nearing the release finally of our advanced premium biometric fingerprint activated credit card after years of development and overcoming extreme component supply difficulties,” said SmartMetric’s President and CEO, Chaya Hendrick.

The market size of existing credit cards with chips on them is over 11 billion issued cards. As independent market research has evidenced that up to 70% of existing credit and debit card holders are keen to buy and pay for a new credit card or debit card with built in biometric fingerprint activation security, the actual market size for such cards runs into the multi-100’s of millions of cards.

“SmartMetric has spent well over a decade in perfecting the miniaturization of its biometric card internal electronics. Creating a totally new product that pushes the limits of electronic component miniaturization and electronic mass assembly, has needed a great deal of perseverance and persistency,” said Chaya Hendrick.

“We are excited about us being able to soon present our premium biometric card to card issuers around the world,” said Chaya Hendrick.

ABOUT THE SMARTMETRIC BIOMETRIC CARD: Keeping your biometric identity safe is at the center of the design of the SmartMetric biometric card. At no time does a card holder's fingerprint leave the card. A person’s fingerprint is stored inside the card and matching of the person's fingerprint is done on the card itself. This was a central design requirement of the SmartMetric biometric card solution that necessitated SmartMetric to create a self-powered inside the card, fully functional fingerprint scanner. Also, so that the card could be used at ATMs and POS (Point Of Sale) card readers, the SmartMetric development team created an on card miniature power management system that recharges the card as it is being used in card readers.

To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card

To view the company website: www.smartmetric.com

Spain moves to adopt biometric only credit cards: This Is The Change That Will Be Announced By Our Credit Card Banks (worldnationnews.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/20231005938390/en/

SmartMetric, Inc.

Chaya Hendrick

Head Office

702.990.3687 or 305.607.3910 (Pacific Daylight Time)

ceo@smartmetric.com

Source: SmartMetric, Inc.

FAQ

What is SmartMetric releasing?

SmartMetric is releasing its advanced biometric fingerprint activated credit card.

What is the market size for such cards?

The market size for cards with built-in biometric security is in the multi-100's of millions.

What percentage of existing cardholders are interested in purchasing one?

Up to 70% of existing cardholders are interested in buying a card with built-in biometric security.

How long has SmartMetric been working on perfecting its biometric card electronics?

SmartMetric has dedicated over a decade to perfecting the miniaturization of its biometric card electronics.