SmartMetric Is Pleased to Confirm That Operating System Testing and Integration of Our Gen 4 Biometric Credit Card Has Been Successfully Completed

Rhea-AI Summary

SmartMetric, Inc. (OTC: SMME) has successfully integrated and tested its in-card Operating System for its Gen 4 Biometric Credit Card. The card features an in-the-card nano fingerprint scanner that recognizes the cardholder's fingerprint to activate the card. It is the only biometric payments card with an internal rechargeable battery, allowing it to be used in all card usage cases. Market research shows high demand for biometric secured credit cards, with 70% of users willing to pay $70.00 for such a card.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME) is pleased to announce that it has successfully completed the integration and testing of its in-card Operating System for its Gen 4 Biometric Credit Card.

“We are proud of our engineers in Tel Aviv, Israel, who have continued working on advancing our biometric card to completion under very difficult present-day circumstances and completing the integration of our system software with our Gen 4 biometric credit card,” said SmartMetric’s President & CEO, Chaya Hendrick.

The SmartMetric Gen 4 Biometric Fingerprint Card has been developed to meet the specific demand of the credit card industry and credit card users for enhanced credit card security. The card has an in-the-card nano fingerprint scanner that is used to recognize the card holder's fingerprint and in turn activate the card.

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 ATM’s. 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 100’s 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.com ¹ 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/20231103561188/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 is the company behind the Gen 4 Biometric Credit Card?

The company behind the Gen 4 Biometric Credit Card is SmartMetric, Inc. (OTC: SMME).

What is the main feature of the Gen 4 Biometric Credit Card?

The main feature of the Gen 4 Biometric Credit Card is its in-the-card nano fingerprint scanner that recognizes the cardholder's fingerprint.

What sets the SmartMetric biometric credit card apart from others?

The SmartMetric biometric credit card is the only advanced biometric payments card product with an internal rechargeable battery, allowing it to be used in all card usage cases.

What is the demand for biometric secured credit cards?

Market research shows that 70% of current credit card users are willing to pay $70.00 for a biometric secured credit card.

What is the number of credit card accounts open in the United States?

According to Finder.com, there are 564,500,000 credit card accounts open in the United States, which is an all-time high.