SmartMetric Fingerprint Activated Biometric Credit Cards Have Issued Design Patents Protection

Rhea-AI Summary

SmartMetric, Inc. has secured design patents from the United States Patent Office, ensuring protection against competitors aiming to replicate its biometric credit card technology. After nearly two decades of R&D, SmartMetric is positioned as a leader in biometric solutions, addressing the growing market of over 11 billion chip-based cards globally. The biometric card aims to enhance security through fingerprint activation. With patents granted and pending, SmartMetric’s technology caters to the existing multibillion-dollar chip card market, highlighting its innovative approach.

Positive

• Secured design patents protecting biometric credit card technology.
• Positioned as a market leader in biometric solutions.
• Targets a multibillion-dollar market with over 11 billion chip-based cards issued globally.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTCQB: SMME) has been granted by the United States Patent Office design patents that carve out protection for SmartMetric against would-be copycats.

Having spent nearly two decades on research and development to create a biometric solution inside a credit card, SmartMetric has been awarded USPTO design patents that protect the company from any company that would seek to introduce a smartcard or credit card with a Fingerprint Sensor on the card's surface.

“We started developing a biometric credit card to use a person’s Fingerprint to activate the card's chip before chip-based cards were even thought of being used in Banking,” said SmartMetric’s President and CEO, Chaya Hendrick.

“This was a fringe idea when we first started while our first prototype was two inches thick. Most thought we were mad even thinking there would be a need for such a product,” said Ms. Hendrick. “After years of research and development we now find ourselves as the world leader in what is recognized as the next big thing in the credit card industry,” said SmartMetric’s CEO.

There are now over 11 billion chip-based cards issued worldwide for which the SmartMetric biometric inside the chip card is able to bring the next level of biometric security.

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/20220223005599/en/

SmartMetric, Inc.

Chaya Hendrick

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

ceo@smartmetric.com

www.smartmetric.com

Source: SmartMetric, Inc.

FAQ

What patents has SmartMetric, Inc. secured?

SmartMetric, Inc. has secured design patents from the United States Patent Office for its biometric credit card technology.

How long has SmartMetric been developing its biometric credit card?

SmartMetric has spent nearly two decades on research and development for its biometric credit card.

What market is SmartMetric targeting with its biometric technology?

SmartMetric is targeting the multibillion-dollar market of existing chip-based credit and debit cards, which has over 11 billion cards in circulation.

What is the significance of the patents for SmartMetric, Inc.?

The patents provide SmartMetric with legal protection against competitors that attempt to create similar biometric credit card technologies.

What innovation is SmartMetric introducing in the credit card industry?

SmartMetric is introducing a biometric credit card that uses fingerprint activation to enhance security.