NEW YORK, NY--(Marketwired - March 30, 2017) - SmartMetric, Inc. (OTCQB: SMME) -- The new SmartMetric biometric credit card with built in electronics and a powerful fingerprint reader has turned the ubiquitous credit card into a new consumer device. And in so doing has turned the credit card from being a cost commodity for Banks into a new product profit center.
Research has commissioned by SmartMetric of credit card holders in the United States revealed that 80% of credit card holders are seriously concerned about credit card and identity theft. The same research showed 67% of existing credit card holders would pay $69.95 for a biometric safer credit card.
"The consumer's willingness to pay a premium for a more secure credit card is a game changer in the financial card industry. What the research shows is the fear of card fraud is so high that credit card customers are willing to pay close to $70.00 a card for peace of mind and better security. Offering the SmartMetric biometric credit card turns the plastic card from being a cost of doing business for Banks into a new consumer product profit center," said today, SmartMetric's President & CEO Chaya Hendrick.
SmartMetric has current mass production biometric card capacity of 1 million cards a month. The company is able to significantly increase this production capacity adoption and demand increases. The SmartMetric biometric card is built around the EMV chip card using a person's fingerprint to activate the card following a match of fingerprints on the card. There are over 4 billion Chip cards now in circulation around the world.
SmartMetric has integrated a small square "touch" sensor on its card having moved away from using a rectangular "swipe" sensor. The new small touch sensor is easier for us to mass manufacture in the card while providing a simple touch and insert function for the consumer. SmartMetric is moving forward with industry testing and approvals for use of its new biometric credit card. Allowing Banks from around the world who have expressed interest to start to offer the new biometric safer credit card to their customers.
The SmartMetric biometric card scans and matches a person's fingerprint in less than 0.25 seconds allowing for instant card user validation. The biometric card also does all of its scanning and matching inside the card without the need for a central online depository of fingerprints. This provides the card user with a significantly safer protection of their fingerprint information while also protecting the card users privacy.
The SmartMetric solution overlays biometric protection on top of the new Chip Card technology now being adopted and used across the United States.
Follow this link to view the SmartMetric biometric card:
SmartMetric Biometric Payments Card -- https://youtu.be/zSX59uHoHqU
To view the company website: www.smartmetric.com
Safe Harbor Statement
Certain statements in this release are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "guidance," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding expected sales, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law.