SmartMetric Reports That Nearly 11 Billion Chip Credit and Debit Cards Have Been Issued Worldwide; The SmartMetric Biometric Card Is Designed to Activate the Chip on These Cards Following a Valid On-Card Fingerprint Scan and Match
SmartMetric, Inc. (OTCQB: SMME) highlights the rapid global adoption of EMV® chip technology, with 10.8 billion cards issued by the end of 2020, marking an increase of nearly 1 billion cards. EMV transactions accounted for 86% of card-present transactions globally.
The company's biometric fingerprint scanner fits within standard-sized credit cards, allowing for user enrollment at home. SmartMetric's technology enables financial institutions to issue biometric cards directly to consumers without requiring in-branch activation.
- SmartMetric's biometric card technology is patented, providing competitive advantage.
- The rise in EMV chip card usage indicates a growing market for biometric solutions.
- The company's ability to innovate with compact technology enhances user experience.
- None.
SmartMetric, Inc. (OTCQB: SMME): 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.
In addition, EMVCo reports that
SmartMetric foresaw the global adoption of credit and debit cards with chips. It embarked on developing a biometric fingerprint scanner small enough to fit inside a credit card over a decade ago. "Reducing the electronics to miniature scale of less than 0.3mm, allowing it to fit inside a credit card that meets ISO standards for such cards, has been a long process but one we are glad we set out to achieve," said today SmartMetric’s President and CEO, Chaya Hendrick.
The SmartMetric in-the-card fingerprint scanner allows for the card’s chip to only work following a successful scan and match of the card user’s fingerprint. Unlike other biometric cards, the SmartMetric card does not need the card user to go into a bank branch to have their fingerprint stored on their new biometric card. Instead, the SmartMetric Biometric Card allows the card user to enroll their fingerprint when they first receive it at home as simply as it is when enrolling your fingerprint on a smartphone.
Touch and store read once technology developed by SmartMetric for its biometric card allows mass card issuing financial institutions to issue their cards direct to the consumers as they normally do without the need for consumers to come into a bank branch to activate their new biometric card.
SmartMetric is a USA-based company with sales and marketing partnerships in Latin America, Europe and the 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
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