SmartMetric Announces March 5, 2012 Date Calendared for Federal Circuit Hearing in Ongoing Patent Litigation vs. Visa, Master...
January 31 2012 - 9:35AM
Marketwired
SmartMetric, Inc. (OTCBB: SMME) President & CEO of SmartMetric,
Inc., C. Hendrick, announced today that it has been informed by the
Federal Circuit Court that the oral arguments in the case against
Visa, MasterCard, American Express et al will be heard before a
panel of three appeal judges on March 5, 2012.
C. Hendrick, President and CEO, stated, "We are looking forward
to a hearing of our case before the Federal Appeals Court on the
dispute over whether or not our Patent covers Contactless Credit
Cards issued by Visa and MasterCard. The lower court ruling has
determined that the definitions of our Patent cover what is called
contact cards. These are the same cards that major Banks in the
United States along with Visa and MasterCard have announced are to
be rolled out in the USA. Visa, based on recent media statements,
is in fact now pushing that all ATM and Point of Sale Machines
(POS) be ready to accept the new EMV contact Debit and Credit Cards
by June 2013."
The contact card technology claimed in the SmartMetric,
Inc.-issued Patent, along with the Contactless card technology, is
part of a separate and much larger court case that is on hold till
the case brought by SmartMetric, Inc. in the appeals court dealing
with Contactless cards is handled.
The Company President, C Hendrick, welcomes the Appeal Court
hearing and stated that a ruling either way on the Contactless
cards will free up the main litigation already filed against Visa
and MasterCard to continue to move forward in the Courts.
The SmartMetric, Inc. President further stated that both Visa
and MasterCard, in announcing and taking steps to introduce new
Credit Cards with contact chips on them, are clearly by a ruling of
the courts on definition of our Patent which the Court has already
unambiguously ruled, in that the SmartMetric Patented technology
covers by definition contact cards, is blatantly and with
forethought conducting its business to in fact breach the
SmartMetric issued Patent. While both Visa and MasterCard know full
well that the commercial application of Chip Cards or EMV Cards are
contact cards clearly covered in our Patent they are consciously
working and making investment to use a technology that is plainly
in violation of the SmartMetric-issued Patent.
SmartMetric, Inc.'s President, C. Hendrick, is very pleased that
SmartMetric will soon be able to move forward with its main case
for Patent infringement on "contact" chip Credit Cards once the
Appeal on either the inclusion or exclusion of Contactless cards in
the SmartMetric Patent, is heard on March 5, 2012.
The Company President further said that on points of law the
appeals court should agree with SmartMetric in that its Patent also
covers Contactless Credit Cards, however, even if the appeals court
does not rule in the Company favor on this point, SmartMetric will
irrespectively be free to immediately move forward with its case
filed in another court covering the new contact Credit Cards.
The main lawsuit for Patent infringement has been stayed
awaiting the SmartMetric Appeal on whether or not Contactless
Credit Cards are subject to the SmartMetric Patent. If the Court of
Appeals rules that Contactless cards are defined and therefore
covered in the SmartMetric Patent then both kinds of Debit and
Credit Card technology will then fall into the main Patent
Infringement Case brought against Visa and MasterCard by
SmartMetric, Inc.
Definition:
Contact Credit Cards are next generation credit cards with a
chip mounted on the surface and a person's card information is
encrypted and stored on the chip rather than the vulnerable
magnetic stripe. These high tech Credit Cards and Debit Cards are
used around the World and both Visa and MasterCard have announced
that they will be issuing such cards to customers in the United
States. They are often referred to as either EMV Cards or Chip and
Pin Cards.
Contactless Credit Cards are Credit or Debit cards that have a
small chip inside that is not seen by the customer but allows the
card user to insert the card within range of a reader like in the
back of a taxi or a fast food store checkout and make the purchase
without using the magnetic stripe on the card. This kind of card is
already in use in the United States and is used mainly for low cost
fast food purchases. Since it is not as safe as Contact Credit
Cards, Contactless cards have a much lower per transaction limit
set by the Card issuers.
An earlier court ruling has already determined that by
definition, the Contact Cards, Chip and Pin, EMV Cards, Data Cards
are covered in the SmartMetric-issued Patent.
About 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's 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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Contact: Investor : Constellation Asset Advisors, Inc.
tel: +1 (415) 524-8500 Company SmartMetric, Inc. tel: +1
(786) 623-5690 email: ceo@smartmetric.com
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