SmartMetric Reports That More Than 75% of All Credit Cards Worldwide Are Chip-Enabled Credit Cards That Conform to Operate With the SmartMetric Biometric Fingerprint Credit Card Technology

Nachrichtenquelle: Business Wire (engl.)
21.01.2020, 20:08  |  116   |   |   

SmartMetric, Inc. (OTCQB: SMME) reports, based on figures published by the industry standards body EMV Co, that more than 8.2 Billion chip cards with EMV chips are now in use globally. The adoption rate between non-chip-based card and chip-based cards is now more than 75%. That is now more than 75% of all credit and debit cards around the world are now using the EMV Chip.

SmartMetric commenced developing its biometric “inside the card” technology for chip-based cards more than a decade ago, in fact years before the mass adoption of chip-based credit and debit cards. SmartMetric foresaw the ongoing growth in card-based fraud and saw that a powerful tool to protect credit cards would be to use miniature electronics to embed biometric security technology inside the ubiquitous credit card.

SmartMetric has successfully embedded its powerful fingerprint biometric scanner that sits inside the credit card. This scanner comes to life when the card user touches the surface of the card and then the internal fingerprint scanner scans and matches the user’s fingerprint in less than a quarter of a second. Upon a match, the card's EMV chip is turned on allowing the card to perform a standard credit or debit card transaction.

“The SmartMetric biometric scan and match of the card user's biometric fingerprint takes place in less time than it takes for the card user to reach across to insert their card in a store card reader of ATM,” said today SmartMetric’s President and CEO, Chaya Hendrick.

SmartMetric is preparing to have its card presented to card issuing banks around the world with an EMV Chip that will seamlessly operate with the Bank's existing backend systems, card readers and ATMs.

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.

To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com

Source data: *Figures reported in Q4 of 2018 and represent the latest statistics from American Express, Discover, JCB, MasterCard, UnionPay, and Visa, as reported by their member institutions globally. https://www.emvco.com/wp-content/uploads/2019/04/EMVCo_EMV_Chip_Deploy ...

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.

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