NEW YORK – (BUSINESS WIRE) –#biometric–SmartMetric, Inc. (OTCQB: SMME): After years of research and development, SmartMetric has created what is considered to be one of the most advanced and forward-thinking next-generation products in the technology industry. financial.
A built-in credit card, a fingerprint reader that, when you touch a sensor on the surface of the card, scans your fingerprint in less than a second. Your fingerprint is compared to your pre-registered fingerprint inside the card and when a match occurs, your card is activated. Instant and secure user validation that goes beyond the use of a PIN code to protect the use of a credit or debit card during a transaction.
What sets the SmartMetric biometric card solution apart is that it is designed with its own internal power source. This allows the card to function and perform fingerprint scanning before the card is inserted into a reader, thus allowing the card to be used in regular ATMs and in situations where the card is in use. in places like a restaurant where the card is removed from the dining table to deal with.
“During the development of the SmartMetric biometric card, we were particularly aware that for its adoption by card issuing banks and consumers, the card should work in all real-life situations in which the public uses cards today,” said said Chaya, President and CEO of SmartMetric. Hendrick.
The SmartMetric biometric card goes beyond the use of its sub-microelectronics inside the card for the validation of the identity of the card user. It has a large memory as well as a very fast processor making the card an exciting new technology platform for multiple advanced applications executed on the credit or debit card, ushering in a new dimension of advanced offerings for credit card issuers.
SmartMetric’s biometric card addresses the existing market of several billion financial chip cards.
Figures published by EMVCo 1 reveal that at the end of 2020, 10.8 billion EMV® smart cards were issued by financial institutions and were in circulation globally – a massive increase of nearly a billion in EMV credits and debits® cards compared to the previous twelve months.
Additionally, EMVCo reports that 86% of all card transactions made globally use EMV.® chip technology. This is based on data that could be obtained from American Express, Discover, JCB, Mastercard, UnionPay and Visa. Note that, overall, 86.1% of transactions are done on EMV chip.
SmartMetric predicted the global adoption of chip credit and debit cards. He embarked on the development of a biometric fingerprint reader small enough to fit in a credit card over ten years ago. “Reducing electronics to a miniature scale of less than 0.3mm, allowing it to fit into an ISO-compliant credit card for such cards has been a long process, but we’re glad we undertook achieve this, ”said the President and CEO of SmartMetric today. , Chaya Hendrick.
The fingerprint scanner built into the SmartMetric card allows the card chip to work only after a successful scan and match of the card user’s fingerprint. Unlike other biometric cards, the SmartMetric card does not require the card user to visit a bank branch for their fingerprint to be registered on their new biometric card. Instead, the SmartMetric biometric card allows the card user to register their fingerprint when they first receive it at home as easily as when registering their fingerprint on a smartphone. .
The Touch and Store Read Once technology developed by SmartMetric for its biometric card allows financial institutions issuing mass cards to issue their cards directly to consumers as they normally do without consumers having to visit a bank branch to activate their new biometric card.
SmartMetric is a United States-based company with sales and marketing partnerships in Latin America, Europe, and the United States. The engineering of the electronics of the biometric card is carried out in-house and is the intellectual property of the company.
SmartMetric has issued patents and pending patents relating to its biometric card technology.
To view the SmartMetric Biometric Card, please follow this link – SmartMetric Biometric Card Video. To visit the company’s website: www.smartmetric.com
1 Data source: 10 billion and counting: what the latest EMV chip data® mean for global payments – EMVCo
EMV is a registered trademark of EMVCo
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