SmartMetric Biometric Credit Card to Add Next Generation Biometric Security to the Multi Billion Unit Credit and Debit Card Market

SmartMetric, Inc. (OTC: SMME) says that Visa, Mastercard and other payments networks are reported to now have more than 6.7 billion credit cards issued worldwide. The following is the breakdown of cards in circulation per network brand. Visa 3.94B, Mastercard 2.58B, American Express 122M, JCB 144M, Diners Club 66M.¹

EMVco, the international card standards organization governing EMV payments chips used in today’s credit and debit card report more than 11 billion cards with EMV chips have been issued worldwide.

The SmartMetric biometric fingerprint recognition technology built inside of the credit and debit card uses embedded biometric technology to positively recognize the card holder and turn on the cards EMV contact and contactless payments chip.

As of November 2022, with 3.94 billion credit cards in circulation, Visa has more cards in circulation than all the other major credit card brand networks combined.

“We have created the next move forward in making credit and debit cards safer, by adding fingerprint recognition biometrics inside the card. Only the card users’ fingerprint can turn the card on at a payments terminal or ATM making the SmartMetric created biometric credit and debit card immeasurably more secure for users and banks than today’s cards,” said SmartMetric’s President and CEO, Chaya Hendrick.

SmartMetric sees the adoption of biometric credit cards being driven primarily by card users. Apart from the majority of card users saying they would prefer to use a biometric credit card, the driving motive for consumers is the added security perceived when using biometric secured cards. Banks and payments processors also benefit tremendously when biometric credit and debit cards are used as they can be configured to message the payments networks that a biometric card is being used that has positively identified the legitimate card user at the point of the card being used in a card transaction.

“SmartMetric has taken well over a decade in developing its advanced biometric credit card. Our biggest issues in making this product have been in shrinking the electronics to fit inside of a credit card. When we first started on this biometric card journey are first proto-type was a half inch thick. We now have reduced the thickness of all of our electronics to less than a quarter thickness of a standard credit card,” said Chaya Hendrick.