Streamlined Progress with Global Credit Card Network for Commercial Launch of Patented Biometric Fraud Protection Cards: SmartMetric, Inc. (Stock Symbol: SMME)

October 06 06:54 2022
  • Biometric Fingerprint Scanning for Credit & Debit Card Fraud Protection.
  • US Patent Office Protection Granted to Prevent Copy-Cat Versions.
  • The Only Biometric Credit Card That Can Be Used in ALL Card Readers.
  • Working with One of the World’s Largest Credit Card Network Brands.
  • Product Testing with Card Network Streamlined for Last Stage in Gaining Approval.

SmartMetric (OTC: SMME) is the creator of an advanced Biometric payment card technology that addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo reveal that by the year-end of 2020, 10.8 billion EMV® chip cards have been issued by financial institutions and were in global circulation – a massive increase of nearly 1 billion credit and debit EMV® cards compared to the previous twelve months.

After the card holder’s fingerprint is stored inside the SMME card, all the user needs to do is touch the fingerprint sensor on the surface. In less time than it takes to reach across to insert the card into a credit or debit card reader, the card has scanned the user’s fingerprint and matched it with the pre-stored fingerprint inside the card. On a successful match, the card is turned on so that it can perform a card transaction.

The ease of use of the SMME biometric card, along with the fact that it is powered by the SMME internal green battery prior to the card being inserted into a reader to power the internal processor doing the fingerprint scan, means the SMME card is the only card that can work across all card reader types and situations. Biometric cards that do not have an internal independent power supply are very limited on where such cards can be used. A big advantage for both credit card users as well as banks in fighting card fraud is the fact that the SMME biometric card can not be activated if someone else is trying to use the card.

  • The SmartMetric Biometric Credit and Debit Card is Unique and Protected by Issued Patents

On September 21st SMME announced that Goode Intelligence, a London-based research company has listed the following companies as Biometric Smart card Vendors. Zwipe, CardLab, Card Tech, Feitian, Jinco, Linxens, Kona I, MeReal Biometrics, NXP and SmartMetric.

The SMME biometric card is protected by issued patents that in its view would prohibit other biometric card companies from entering, in particular, the United States market.

  • Product Testing with a Major Global Credit Card Network Has Been Able to Be Streamlined for What Will Be Expected the Last Stage in Gaining Approval

On September 20th SMME announced the introduction of a unique and novel new card into the credit card world is a complex process requiring approvals for the product to be able to operate over a global payments network that interconnects with in-store card readers and ATMs for credit and debit cards.

SMME is dealing with one of the largest of the top three global payments networks on the company’s card tech through its approval process. This has understandably been a long process as our card with its built-inside-the-card biometric fingerprint scanning function is beyond the normal cards that are approved by the network for card manufacturers.

Now that SMME has been cleared to submit its card in what is expected to be the final step in its network approvals process, the company is now able to complete its card production. Up until now, there was a lot of back and forth on what EMV payments chip SMME could use on its card but this has now been resolved which gives SMME the ability to finish off its manufacturing in compliance with the credit card network.

SMME has all of its components now at its electronics assembler and will be moving forward with the presentation of its card for final testing. This testing is for testing of the card body itself which is separate from its biometric electronic function. The last and quick process that will at the end of the day allow SMME to provide its finally approved card to card issuing banks around the world.

  • Next Generation of High Security to Payments Cards Using SMME Developed Biometric Scanning Technology Inside the Card for User Validation

On September 14th SMME announced it has created a nano biometric fingerprint scanner that sits inside the credit card and is used to confirm that the person using the card is the legitimate card holder.

Because the SMME biometric card works without the need to be inserted into a reader and because it has its own internal rechargeable miniature hybrid battery, the SmartMetric biometric card is the only biometric card that can work at the vast majority of ATMs.

“The user’s fingerprint is stored inside the card using a separate secure processor to what is used for the payments processing processor, adding another layer of security for the protection of the card user’s own biometrics while providing maximum function for the card,” said Chaya Hendrick.

SMME contracted an independent market research company that conducted a survey of Visa credit card holders in the USA. This research showed that over 60% of existing credit card holders in the USA are willing to purchase a biometric credit card for an added sense of security.

The majority of survey respondents said they would be willing to pay $69.00 for a biometric secured credit card. Surveying whether or not they would be willing to pay a higher amount such as $90.00 or $150.00 a card was not done. However, with over 60% saying they would pay $69.00 for such a card, this is converted into consumer buying, and adoption of the SMME biometric card would see a possible take up in the USA alone exceeding 100 million cards.

For more information on SmartMetric, Inc. (SMME) visit: https://www.smartmetric.com

To view the SmartMetric Biometric Card please follow this link – Video of the SmartMetric Biometric Card.  

DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks.

Media Contact
Company Name: SmartMetric, Inc.
Contact Person: Chaya Hendrick, CEO
Email: Send Email
Phone: (702) 990-3687
Address:3960 Howard Hughes Parkway, Suite 500
City: Las Vegas
State: NV 89109
Country: United States
Website: https://www.smartmetric.com/