SmartMetric, the Creator of Biometric Credit Cards in USA Sees United States Card Dollar Volume Now Exceeding $8.4 Billion

Rhea-AI Summary

SmartMetric, Inc. (OTC-PINK: SMME) highlights the enduring dominance of credit cards, reporting a remarkable $8.461 trillion purchase volume in the U.S. for 2021, up 25.1% from 2020. The company emphasizes its innovative fingerprint biometric card technology, which alone features a rechargeable battery and enhances security by ensuring that users' fingerprints are securely stored. SmartMetric is the only U.S.-based manufacturer of these advanced biometric cards, backed by licensed patents and trade secrets. The company continues to position itself uniquely in the competitive payment technology landscape.

Positive

• Purchase volume from major credit card companies reached $8.461 trillion in 2021, a 25.1% increase over 2020.
• SmartMetric is the only company in the U.S. with a fingerprint biometric activated card with a rechargeable battery.
• The biometric card technology is protected by issued patents and trade secrets.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- SmartMetric, Inc. (OTCQB: SMME): Contrary to past thoughts that mobile phones would replace credit cards the reality is that credit cards remain the most dominant transaction choice.

Purchase Volume of Visa, Mastercard, American Express and Discover, consumer business and commercial cards issued in the U.S. generated $8.461 trillion in 2021. This was a staggering increase of 25.1% over 2020.²

“SmartMetric is the only known fingerprint biometric activated card in the credit card industry with a rechargeable battery that allows the card to be used in all card transaction situations, such as ATM’s and restaurants that process the card transaction away from the table,” said SmartMetric’s President and CEO, Chaya Hendrick.

The card holder simply touches a discrete sensor on the card's surface and in less than a second their fingerprint is scanned and matched with their pre-stored fingerprint in the card. Enhancing the security of the card user's biometrics, at no point does the user's fingerprint leave the secure memory inside the card.

The SmartMetric biometric in card ultra small electronics technology has been developed in-house by SmartMetric with its team of high level electronics engineers. SmartMetric is the only United States based company manufacturing advanced biometric cards.

There are now over 11 billion¹ chip based cards issued worldwide.

SmartMetric technology is protected by issued licensed patents and patents pending along with trade secrets 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}

^{2 Nilson Report – March 15, 2022}

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/20220315006148/en/

SmartMetric, Inc.

Chaya Hendrick

Tel: (702) 990-3687 or (305) 607-3910

ceo@smartmetric.com

www.smartmetric.com

Source: SmartMetric, Inc.

FAQ

What is the purchase volume for credit cards in the U.S. in 2021?

The purchase volume for credit cards in the U.S. reached $8.461 trillion in 2021.

What unique feature does SmartMetric's biometric card have?

SmartMetric's biometric card features a rechargeable battery and uses a fingerprint sensor for secure transactions.

How does SmartMetric ensure the security of fingerprints on their cards?

SmartMetric's biometric card keeps the user's fingerprint securely stored in the card's memory and does not transmit it outside.

Is SmartMetric the only company manufacturing biometric cards in the U.S.?

Yes, SmartMetric is the only U.S.-based manufacturer of advanced biometric cards.