SmartMetric Fingerprint Biometrics to Replace PIN in the Next Generation Banking Cards
September 26 2011 - 9:45AM
Marketwired
SmartMetric, Inc. (OTCBB: SMME) President & CEO of SmartMetric,
Inc. C. Hendrick, said that the company's advanced integration of a
fingerprint scanner inside a SmartCard provides the company with a
technological platform that when combined with the credit card
industry standard EMV application allows for the next generation of
Banking and Credit Cards to be Biometric Fingerprint activated
Cards. Thereby introducing a higher level of security then what is
available to date on Credit and ATM Cards.
EMV is a global standard for credit and debit payment cards
based on chip card technology. As of the end-2010, there were more
than 1.24 billion EMV compliant chip-based
payment cards in use Worldwide with more than 15.4
million EMV terminals around the World according to
information on the EMV Co(1)(2)(3)(4) website.
Often referred to as "chip and pin" cards used in the Banking
Industry, an EMV standard ATM Card or Credit Card is a SmartCard
the size of a standard credit card with a surface mounted chip that
is read by an EMV compliant reader along with input of a user's pin
number. Creating the often used term in the Banking industry across
Europe and other parts of the World as, "Chip & Pin Bank
Cards."
SmartMetric has overcome the least secure aspect of the Chip
& Pin cards in its reliance on the least secure aspect, namely
the use of a "PIN" with the advanced security of Biometrics.
The next Generation of the 1.24 Billion issued "Chip & Pin"
Banking Cards is the SmartMetric Fingerprint Card that uses the
same chip and works with the 15.4 million existing terminals around
the world but replaces the least secure Pin with the most secure
technology namely Fingerprint Biometrics.
SmartMetric plans on launching its Banking Industry Fingerprint
Activated Card technology in the First Quarter of 2012 after the
completion of its mass production manufacturing facility in Latin
America.
(1) http://www.emvco.com/ - (2) About EMV - EMV® is a global
standard for credit and debit payment cards based on chip card
technology. As of end-2010, there were more than 1.24 billion EMV
compliant chip-based payment cards in use worldwide. (3) About EMV
Co. - EMVCo, owned by American Express, JCB, MasterCard and Visa,
manages, maintains and enhances the EMV®1 Integrated Circuit Card
Specifications to ensure global interoperability of chip-based
payment cards with acceptance devices including point of sale
terminals and ATMs. (4) EMV is a registered trademark in the U.S.
and other countries, and is an unregistered trademark in other
countries, owned by EMVCo.
About the SmartMetric:
The SmartMetric, Biometric Card Computer provides powerful
computing with large memory capacity in a revolutionary size that
has taken more than 10 years of research and development. Using the
latest in sub micro technology electronics, the company has
achieved a level of miniaturization that allows it to release a
solution of portable computing power that combined with
SmartMetric's biometric fingerprint in-card scanning technology, is
so revolutionary it will change the way business is done and
information is handled across a broad range of industries. For
further information please go to the company website:
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.
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Investor Contact: Constellation Asset Advisors, Inc. +1
(415) 524-8500 Company Contact: SmartMetric, Inc.
+1.786.623.5779 Email Contact
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