SmartMetric Brings a Ubiquitous Multifunctional Card Protected by Biometrics to Card Payments
April 22 2014 - 9:40AM
Marketwired
SmartMetric Brings a Ubiquitous Multifunctional Card Protected by
Biometrics to Card Payments
Cards or Phones -- Why Cards Will Continue to Dominate the
Payments Industry
NEW YORK, NY--(Marketwired - Apr 22, 2014) - SmartMetric, Inc.
(OTCQB: SMME), SmartMetric is continuing its development of its
ubiquitous, use anywhere biometric activated card that will
provide overtly secure yet easy to use card transactions with built
in enhanced security for both the user and merchant. In order
for a payments platform to achieve ubiquity, or in marketing
parlance, mass user adoption, it must be useable across the
broadest number of payments situations as possible.
A payments system that for instance doesn't work at every retail
point of sale reader and ATM, will never achieve the goal of being
ubiquitous. A limited use payments device will always result
in limited user adoption. This is why the mobile phone as a
payments platform is finding little success as an alternative to
cards and even following the joint marketing efforts of mobile
phone companies and some banks, has failed in achieving credible
user adoption.
Mobile phones, unlike cards have a very limited retail
operational footprint. This is why the dream of the phone
replacing the credit card still remains a dream with one failed
attempted phone based payments deployment after
another. Simply without phone readers at every retail store
and every ATM a person will still need to leave home with their
card on their trip to the mall. Even if some store chains
installed phone RFID readers it would still leave many retailers
without the phone reading devices. And what serious consumer would
enter the mall with a new kind of payments device that wouldn't
work to buy those must have cute shoes in that card only
store. Simply put, the only payments platform that will always
be taken to the mall will be the card.
Concentrating its technology innovation on the card, SmartMetric
has successfully built into a debit and credit card a miniature
fingerprint reader that is used to scan the card owners fingerprint
which in turn then turns on the card. This SmartMetric
payments card that works at existing retailers and ATM's affords
both the user, retailer and bank, protection from fraud, using
state of the art biometrics technology built inside the
card. If it's not you the card won't work said SmartMetric
President & CEO, Chaya Hendrick.
Last year it has been reported that over $6 Billion was lost to
credit card fraud in the United States.
Ms. Hendrick said SmartMetric will be incorporating fingerprint
activated RFID, NFC and Bluetooth Light into its next generation
biometric secured cards. Making the card a truly ubiquitous,
use anywhere payments platform with the security of
biometrics.
The company has spent a great deal of time in perfecting its
fingerprint activated card. Overcoming hurdles including the
recent discontinued supply of its silicon based fingerprint sensor.
And having spent a great deal of engineering effort to replace its
sensor with a new and superior sensor the company has used the
opportunity to make further electronic enhancements to its
biometric products.
According to the company, SmartMetric is concentrating its
effort on releasing its biometric payments card and has decided to
release other products such as its medical records storage device
called the MedicalKeyring following the launch of its card
products. SmartMetric did a trial release late last year of
its MedicalKeyring devise and will relaunch after rekease of the
card, with sales and marketing being focused on distribution
through health industry relationships rather than as previously
trialed with direct to consumer sales.
SmartMetric is in sales discussions for its biometric acticated
chip card with financial institutions in Europe, Asia and Latin
America where the company plans on first releasing its EMV chip
biometric card. Following release in these mature chip card
markets the company then plans to release its product in the United
States.
The SmartMetric fingerprint card is fully compatible with
existing chip card systems. According to EMV.co there are more than
1.6 Billion issued EMV chip cards in use around the
world. SmartMetric has designed its technology to be able to
be adopted by card issuers while conforming to existing credit card
specifications.
About SmartMetric SmartMetric, Inc. (OTCQB: SMME) is the owner
of a United States Patent & Trademark Office issued patent
covering the use of smartcards (EMV cards are smart cards) that
connect to networks. The company develops biometric smart cards
including EMV and access control cards used for payments, security
and identification. For information on SmartMetric and its
technology please go to www.smartmetric.com.
Safe Harbor Statement Certain of the above statements contained
in this press release are forward-looking statements that involve a
number of risks and uncertainties. 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. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those indicated in the forward-looking statements
as a result of various factors.
Investor Relations: Jens Dalsgard ConstellationAA.com Tel:
775.771.5808
SmartMetric, Inc. Chaya C. Hendrick President & CEO Tel:
305.503.8157 Direct:
786.269.2238
ceo@smartmetric.com
SmartMetric (PK) (USOTC:SMME)
Historical Stock Chart
From Aug 2024 to Sep 2024
SmartMetric (PK) (USOTC:SMME)
Historical Stock Chart
From Sep 2023 to Sep 2024