SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

August 03, 2015 12:18 ET

Credit Card Fraud Continues to Grow With Estimated USA Fraud Losses Reaching $10 Billion - SmartMetric Brings to Market a Biometric Solution to Fight Card and Identity Theft

NEW YORK, NY--(Marketwired - Aug 3, 2015) -  SmartMetric, Inc. (OTCQB: SMME) Americans lose $8.6 billion to credit card fraud, according to the Aite Group, and this number is expected to reach $10 billion by 2015, according to the Nilson Report.

With 47% of the world's credit card fraud happening in the United States, even though Americans only account for 24% of the total credit card volume it is a matter of high and pressing concern to fight this avalanche of losses.

EMV chip cards are now being issued within the United States as a technological defense against the ever increasing incident of payment card fraud. Aligning the United States with the rest of the world who have adopted the EMV chip on card technology. There are now more than 3.4 billion chip cards issued globally. The problem is that EMV chip technology by itself will not eradicate card fraud as fraudsters have already found ways around this technology. 

In order to provide even a greater level of security for both card issuers and card using consumers SmartMetric has developed a biometric fingerprint activated credit / debit card that uses the card holder's fingerprint to activate the cards EMV chip. 

We have had to create a super small yet powerful fingerprint reader that sits inside the user's credit card to bring the power of biometric technology to safeguard payments cards. This raises the bar of cybernetic toon in the payments world to a whole new level said today SmartMetric's President & CEO, Chaya Hendrick.

SmartMetric is the developer of fingerprint authenticated and activated payments cards for use by credit and debit card issuers globally.

To view a video of the SmartMetric biometric chip card follow this link:

SmartMetric Biometric Payments Card https://youtu.be/zSX59uHoHqU

To view 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.

Contact Information

  • Investor Relations
    Everest Corporate Advisors, Inc.
    702.334.7791 or 415.250.0105

    SmartMetric, Inc.
    Office: 702.990.3687 or 786.269.2238
    Email: info@smartmetric.com