SmartMetric Says Its Biometric Fingerprint Recognition and Activation Credit Card Built Inside the Credit Card Will Bring Next Level Security for the Multi Billion Dollar Credit Card Industry Worldwide
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Better protection of your data: Unlike PINs, fingerprint data is encrypted and is only stored in the card, bypassing the need for a central database connected to the internet, protecting a card user’s sensitive data from hackers1. Additionally, the technology safeguards against duplicated 2D and rubber fingerprints because it requires electrical capacitive sensing. In addition, the SmartMetric biometric credit/debit card has an inbuilt hardware based live fingerprint detection created by SmartMetric and only available on the SmartMetric biometric credit/debit card.
Even more convenience: Credit cards save consumers time and allow them to pay quickly. With a fingerprint scan credit card, you don’t need to remember or enter a PIN, which can speed up the checkout process and reduce the risk of forgetting or losing your PIN. At the moment the card issuing brands such as Visa and Mastercard are not proposing to eliminate the use of a PIN with a biometric card. Discussion in
Works with existing POS infrastructure: SmartMetric fingerprint scan credit cards are compatible with existing point-of-sale terminals that accept chip or contactless payments, so merchants don’t need to invest in new equipment or software to accept them. However, more recent players who are trying to test reader powered finger scan credit cards that rely on the power from the reader are trapped in having their cards not able to work at most Gas Stations, ATM’s and many restaurants that don’t have portable card readers that are brought to the table.
Non-Self Powered Fingerprint Scan Cards (limited use credit cards)
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Only works when inserted into a card reader therefore limiting use of the card and not able to be used in all card user situations. These cards rely on the user touching the cards fingerprint sensor while the other end of the card with the contact chip is held in the reader. This allows the card to power the fingerprint scan only through the power from the card reader going into the card. So these cards are limited to readers that only partially insert the card into a reader. Otherwise, they have no power of their own to perform a fingerprint scan. Some of the places these none-powered cards will NOT work in are:
- ATM’s that swallow the card whole
- Restaurants that do not have a portable card reader but require the card to be taken from the table for transaction processing
- Gas station pumps that like ATM’s swallow the card whole
- Transit ticket dispensers that swallow the card whole
- Parking station ticket machines that swallow the card whole
- Non-Self Powered finger scan credit or debit cards require the user to go to a bank branch to have their fingerprint scanned and then transferred onto the card via a secure fingerprint capture device. This is bothersome to the card user. It raises trust issues about having the bank involved in the capture of the user’s fingerprint. For large scale credit issuers that rely on mass mailing of new and replacement credit cards requiring their customers to have to come into a bank branch just will not work.
SmartMetric Self Powered Finger Scan Card
- The SmartMetric self-powered finger scan card because it has its own internal rechargeable power, scans the cared user’s finger prior to the card being inserted into a credit card reader. Therefore, the card is able to be used at all existing and types of credit card readers without the stark limitations of the non-self-powered fingerprint scan cards.
- The SmartMetric self-powered finger scan card does not require the card user to go into a bank branch to register their fingerprint on the card. Nor does it alternatively need a separate secure card reading device to be sent out to the card user for in home fingerprint download into the card. The SmartMetric finger scan card user simply touches the cards fingerprint sensor four (4) times an instantly their fingerprint is scanned and securely stored inside the card. No user friction. Instant fingerprint capture and store because the card is self-powered and acts immediately as a fingerprint scanner.
- Mass credit card issuers who rely on mail distribution for the credit cards need not to change the way they do business. SmartMetric finger scan cards are easily shipped to homes through the mail and without fuss or user friction are easily set up for future card use by the user’s fingerprint.
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The SmartMetric self-powered finger scan card works at ALL card readers such as:
- ATM’s
- Restaurants that take the card from the table to process (user touches the sensor which turns on the card for up to 8 minutes giving the table server enough time to have the card processed)
- Gas pumps
- Parking ticket vending machines
- Transit ticket vending machines
“Because of the limitations of the user and card issuer experience we believe that trials and testing of the non-self-powered cards under way in
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. A card that 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 consumer make payments. Non credit card payments such as phones account for less than
According to a report published by Forbes Adviser on March 9, 2023 “Over the past year, nearly half the population (
The mass market version of the SmartMetric Gen4 biometric credit card is now under manufacture following the successful testing of the cards new and advanced internal operating system on the new card hardware platform.
Currently the card is under manufacture which involves the electronic assembly and separately the cards lamination turning it into a credit card is underway in
“While we have experienced unbelievable challenges and delays, we are very excited about being able to very soon show our finished mass production biometric finger scan card to the world,” said Chaya Hendrick.
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 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240325103587/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
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