SmartMetric Says It Has Completed Its Biometric Fingerprint Activated Credit Card With Live Fingerprint Detection and Is Now in the Final Process of Card Lamination and Printing

Rhea-AI Summary

SmartMetric completes its advanced biometric fingerprint activated credit card with live fingerprint detection, marking a significant milestone after years of development. The card features a rechargeable battery and advanced security measures to combat credit card fraud, setting it apart from competitors.

Positive

• SmartMetric successfully completes the manufacture of its biometric fingerprint activated credit card with live fingerprint detection.
• The card includes a rechargeable battery, making it compatible with various credit card readers.
• Advanced security features, such as live fingerprint detection, provide enhanced protection against credit card fraud.
• Years of research and development, along with significant investment, have gone into perfecting the internal power system of the SmartMetric finger scan card.
• The mass market version of the SmartMetric Gen4 biometric credit card is now in the final stages of lamination and printing.
• Credit card transactions continue to dominate consumer payments, with over 518 million accounts opened by the end of 2022.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTC: SMME) - After over a decade of development and following pandemic supply chain issues during the company's reengineering of its biometric fingerprint activated credit card, SmartMetric has completed the manufacture of its advanced biometric card.

“Implementing new advances into its biometric fingerprint scanner built inside the credit card such as live fingerprint detection has taken a lot longer than we would have hoped but we are glad to have finally reached this stage after such a long and lengthy development process,” said SmartMetric’s President and CEO Chaya Hendrick.

The SmartMetric biometric fingerprint scanning credit card is unique in the world in that it is the first and only such card that has an inbuilt rechargeable battery allowing the card to be used at any type of credit card reader including contactless and ATM readers.

Inside the card is also a hardware engineered solution that senses when an actual live fingerprint is used on the card that foils fake fingerprints from thieves.

“Our amazing fingerprint activated biometric credit card is years ahead of anyone else and will provide a quantum leap in anti credit card fraud for banks and consumers alike,” said Chaya Hendrick.

A fingerprint scan credit card is a type of biometric card that uses a built-in fingerprint scanner to verify the identity of the cardholder when they try to make a payment. This technology is designed to enhance the security and convenience of credit card transactions, especially for contactless payments as well as standard contact payments and ATM transactions.

It has taken years of research and development to perfect the internal power system within the SmartMetric finger scan card. Millions of dollars in research and development have been invested to create the only card of its kind in the world that will work at all card readers. The card is simple to download your fingerprint into the card at home without the fear and inconvenience of going somewhere else to have your fingerprint scanned and stored into the card.

The SmartMetric finger scan card is light years ahead and brings the reality of full biometric security technology to the ubiquitous credit and debit card world.

Credit cards still dominate the way consumers make payments. Non credit card payments such as phones account for less than 5% of payment transactions while the majority of transactions are done using either a credit or debit card.

According to a report published by Forbes Adviser on March 9, 2023, “Over the past year, nearly half the population (47.5%) opened at least one new account, bringing the total number of accounts to over 518 million by the end of 2022.” ¹

The mass market version of the SmartMetric Gen4 biometric credit card has been completed and is now with a major Visa and Mastercard accredited credit card laminator for lamination and printing.

¹ Credit Card Statistics And Trends 2024 – Forbes Advisor

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 d iffer 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/20240416763781/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 technology does the SmartMetric biometric credit card use?

The SmartMetric biometric credit card uses a built-in fingerprint scanner to verify the identity of the cardholder during payment transactions.

What sets the SmartMetric biometric credit card apart from others?

The SmartMetric card features a rechargeable battery and live fingerprint detection, offering advanced security measures to combat credit card fraud.

How does the SmartMetric finger scan card prevent fake fingerprints?

The card has a hardware solution that detects when an actual live fingerprint is used, thwarting attempts by thieves to use fake fingerprints.

What stage is the SmartMetric Gen4 biometric credit card currently in?

The mass market version of the SmartMetric Gen4 biometric credit card is undergoing lamination and printing.

What is the significance of the SmartMetric biometric credit card in the market?

The SmartMetric card brings full biometric security technology to the credit and debit card industry, offering advanced security and convenience for consumers.

How many accounts were opened by the end of 2022 according to Forbes Advisor?

Over 518 million accounts were opened by the end of 2022, indicating the continued dominance of credit card transactions in consumer payments.