SmartMetric Leading Biometric Fingerprint Activated Credit Card Is Protected By Issued Patents Providing a Virtual Monopoly in the United States on Biometric Credit Cards

Rhea-AI Summary

SmartMetric, Inc. (OTC: SMME) has received multiple patents from its founder, Chaya Hendrick, covering cards with a chip and a fingerprint sensor, positioning the company to dominate the biometric credit card market. The patents protect the card's physical design features and sensor positions, providing protection in global markets, including Europe, Asia, and the Americas. The biometric card market is expected to grow from USD 0.17 billion in 2023 to USD 8.45 billion by 2028, with existing credit cards with chips totaling over 11 billion issued cards and an estimated multi-100's of millions of potential biometric cards.

Positive

• SmartMetric has secured multiple patents that cover the placement of fingerprint sensors on cards with a chip, positioning the company to dominate the biometric credit card market.
• The patents protect the company's design features and sensor positions, providing swift and effective enforcement in global markets.
• The biometric card market is expected to experience significant growth, with existing credit cards with chips totaling over 11 billion issued cards, and a potential multi-100's of millions of biometric cards.
• The company's founder has increased patent protection with new international filings, ensuring protection against copycats and patent infringement.

Negative

• The actual market size for biometric cards is still an estimate, and the success of SmartMetric in dominating the market is contingent on consumer adoption and acceptance of biometric credit cards.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME): The founder of SmartMetric, Chaya Hendrick, has licensed material patents to SmartMetric that cover cards with a chip such as credit cards that also have a fingerprint sensor. These multiple patents cover all possible variations of where a fingerprint sensor can be placed on a card with a chip. One example of the many such patents issued is presented in this release.

The ornamental design for a smart card with a chip and a fingerprint sensor, as shown and described. SMART CARD WITH A CHIP AND A FINGERPRINT SENSOR Issued Patent Number: US D996,431 S (Graphic: Business Wire)

“In effect we have issued patents that cover any way you would place a fingerprint sensor on any card the size and shape of a credit card that has a chip. All possible sensor positions have been patented for instance at the end of the card, top right or bottom right or card middle or close to the cards chip," said SmartMetric’s President & CEO, Chaya Hendrick.

“What these issued patents mean for SmartMetric is that is has a lock on biometric credit cards stopping copycats from releasing biometric credit, debit or similar smart cards," said Hendrick.

As we move forward with major banks now preparing to issue biometric fingerprint activated credit cards, SmartMetric is well positioned to dominate exclusively this market particularly in the biggest credit card market in the world, the United States according to SmartMetric.

Biometric Card Market Analysis by Mordor Intelligence - The Global Biometric Card Market size is expected to grow from USD 0.17 billion in 2023 to USD 8.45 billion by 2028, at a CAGR of 117.76% during the forecast period (2023-2028). Increasing demand for biometric authentication systems across various end-users, including banking, retail, gaming, and security, is expected to support the growth of the studied market during the forecast period.¹

Founder and inventor Chaya Hendrick has increased the patent protection for the advanced premium biometric card with new international filings both in the United States and internationally.

“Of particular importance is the company's design patents that protect against copycats who would want to copy the physical design features of the biometric card. Patent protection has been filed in most global markets in Europe, Asia and the Americas. Enforcement of design patents are swift and effective, allowing the patent holder to obtain an injunction against offending companies without having to spend years in a Federal Court," said Hendrick.

The SmartMetric biometric fingerprint activated credit card is also protected by issued patents in the United States that effectively prohibit anyone else from bringing to market a credit or debit card with a chip and a standard fingerprint sensor.

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.

Having issued and pending patents for biometric fingerprint activated credit and debit cards benefits SmartMetric in protecting itself from others who would want to enter the massive biometric credit card market.

“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 Hendrick.

SmartMetric will enforce patents in order to protect the company from predative copycats who may attempt to steal the intellectual property of the SmartMetric biometric fingerprint activated card.

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

SmartMetric is about to release its GEN4 Biometric Fingerprint protected credit cards. The GEN4 Biometric card has an updated secure operating system, cryptographically firewalled separate memory for the user's fingerprint inside the card, green hybrid rechargeable battery, hardware based live fingerprint detection and a rapid read fingerprint scanner and sensor that reads and matches the user's fingerprint in less than a second.

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

¹Source: https://www.mordorintelligence.com/industry-reports/biometric-card-market

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/20231215446009/en/

SmartMetric, Inc.

Head Office

702.990.3687 or 305.607.3910 (Pacific Daylight Time)

ceo@smartmetric.com

Source: SmartMetric, Inc.

FAQ

What patents has SmartMetric received?

SmartMetric, Inc. (OTC: SMME) has received multiple patents from its founder, Chaya Hendrick, covering cards with a chip and a fingerprint sensor.

What does the biometric card market analysis indicate?

The biometric card market is expected to grow from USD 0.17 billion in 2023 to USD 8.45 billion by 2028, with significant demand across various end-users.

How has SmartMetric increased patent protection?

The company's founder has increased patent protection with new international filings, ensuring protection against copycats and patent infringement.

What is the market size of existing credit cards with chips?

The market size of existing credit cards with chips is over 11 billion issued cards, with an estimated multi-100's of millions of potential biometric cards.