Report Shows Security Vulnerability of Apple Pay -- Time to Lock Down Payments Cards With Biometric Security Says SmartMetric

NEW YORK, NY--(Marketwired - Jan 30, 2015) -  SmartMetric Inc. (OTCQB: SMME) -- According to a security research report by Drop Lab the mobile wallet of Apple Pay is in fact making card fraud easier. The Drop Labs' report says scammers have gone with a much more low-tech way to take advantage of Apple Pay. Instead of hacking the hardware, fraudsters are just buying stolen consumer identities, complete with credit card info, and loading that into Apple Pay. This allows them to create a fake digital credit card without going through the hassle of printing it out on plastic to use in stores.

This shows two serious security issues. First the mobile wallet concept is not providing consumers with better security and second the need is still pervasive for the need to secure plastic payments card better, said today the President & CEO of SmartMetric, Chaya Hendrick.

SmartMetric has developed a smart payments card that uses the banking standard EMV chip that is locked down and only opened to work for making a payment following a successful fingerprint scan and match operated by the cards internal biometric fingerprint scanner.

To find out more the SmartMetric Biometric card please contact SmartMetric at info@smartmetric.com or go to the company website at www.smartmetric.com

About SmartMetric, Inc. SmartMetric is a publicly traded technology company that has developed a fingerprint scanner built inside EMV payment credit and debit chip cards thereby creating a second layer biometric authentication protection in defending against card fraud.

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