SmartMetric Announces the Successful Manufacture of Its GEN4 Fingerprint Activated Credit Card With the SmartMetric Miniature Fingerprint Scanner Inside the Card
June 27 2024 - 2:59PM
Business Wire
SmartMetric, Inc. (OTC: SMME), in addressing the projected $5.8
Billion estimated market for biometric cards, is pleased to
announce the manufacture of its advanced GEN4 biometric fingerprint
activated credit and debit card.
Embedded inside the card is the SmartMetric miniature fully
functional fingerprint scanner that scans the cardholder’s
fingerprint in less than a half a second. The card user simply
touches the sensor on the card’s surface that immediately senses
whether the fingerprint is from a live person and performs an
instantaneous scan of the fingerprint and match of the user’s
pre-stored fingerprint encoded and encrypted inside the card’s
memory.
Unlike others, the SmartMetric fingerprint activated biometric
credit card is self powered allowing the card to operate a scan and
match prior to being inserted in a card reader. This makes the card
usable at all card readers including ones that swallow the
card.
“Our card is designed to work with all existing card readers
including ATMs while also being as easy as the experience with a
mobile phone in the first time storing the user’s fingerprint
inside the card. No special fingerprint storage readers at banks or
other methods. Simply touch the card’s sensor 4 times and the
fingerprint is permanently stored inside the card. The SmartMetric
biometric card is an in-home, easy-to-store and activate card,”
said SmartMetric’s President and CEO, Chaya Hendrick.
Taking credit card security beyond the risky and unsafe four
digit PIN code, the SmartMetric GEN4 biometric card uses the card
owner’s fingerprint to turn on the card after a secure on-card
fingerprint match and live person detection.
“SmartMetric is excited about having reached this major
milestone in bringing its advanced biometric credit card to
fruition after years of research and development,” said Chaya
Hendrick.
The global biometric payment cards market size was valued at
USD 74.4 million in 2021.
It is projected to reach USD 5.8 Billion by 2030, growing
at a CAGR of 62.50% during the forecast period (2022–2030).
1.
“Implementing new advances into its biometric fingerprint
scanner built inside the credit card such as live fingerprint
detection has taken a lot longer than we would have hoped but we
are glad to have finally reached this stage after such a long and
lengthy development process,” said SmartMetric’s President and CEO
Chaya Hendrick.
The SmartMetric biometric fingerprint scanning credit card is
unique in the world in that it is the first and only such card that
has an inbuilt rechargeable battery allowing the card to be used at
any type of credit card reader including contactless and ATM
readers.
“Our amazing fingerprint activated biometric credit card is
years ahead of anyone else and provides a quantum leap in credit
card anti-fraud protection for banks and consumers alike,” said
Chaya Hendrick.
This technology is designed to enhance the security and
convenience of credit card transactions, especially for contactless
payments as well as standard contact in-store payments and ATM
transactions.
The SmartMetric finger scan card is light years ahead and brings
the reality of full biometric security technology to the ubiquitous
credit and debit card global market.
Credit cards still dominate the way consumers make payments.
Non-credit card payments such as phones account for less than 5% of
payment transactions while the majority of transactions are done
using either a credit or debit card.
According to a report published by Forbes Adviser on March 9,
2023, “Over the past year, nearly half the population (47.5%)
opened at least one new account, bringing the total number of
accounts to over 518 million by the end of 2022.” 2.
1 Biometric Payment Cards Market Trends, Share, Size, Growth,
Forecast 2030 (straitsresearch.com) 2 Credit Card Statistics And
Trends 2024 – Forbes Advisor
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press release, which are not historical facts, are forward-looking
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Reform Act of 1995. Also such forward-looking statements are within
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SmartMetric, Inc. Chaya Hendrick Tel: (702) 990-3687
Mobile: (305) 607-3910 (Pacific Time) ceo@smartmetric.com
www.smartmetric.com