SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

October 22, 2014 11:33 ET

Data Breaches Are Affecting Consumer Behaviour and Trust in Credit Cards -- SmartMetric Says a Safer Card Is Needed

NEW YORK, NY--(Marketwired - Oct 22, 2014) -  SmartMetric, Inc. (OTCQB: SMME) -- According to a new survey nearly half of cardholders are vowing to avoid using plastic this holiday season, with 48 percent saying security breaches will make them more likely to pay with cash.

As data breaches exposing consumer credit card, debit card and other personal information become more common, nearly half of cardholding shoppers say they're reluctant this holiday season to return to stores that have been hacked, according to a new survey by CreditCards.com.

Forty-five percent of respondents with credit or debit cards said they would definitely or probably avoid one of their regular stores over the holidays if that retailer had experienced a data breach.

The survey of randomly selected American adults who have debit or credit cards was conducted for CreditCards.com by Princeton Survey Research Associates International. The survey has a margin of error of plus or minus 3.9 percentage points.

SmartMetric, the maker of biometric fingerprint activated credit and debit cards, says the loss of confidence and trust in the payments system is a serious issue for banks and retailers alike. The company President and CEO, Chaya Hendrick, said today the results of this latest survey show the urgent need for a better and more secure payments system such as that developed by SmartMetric.

SmartMetric has developed a payments card that uses a person's biometrics (fingerprint) to turn on the card before it can be used. Tying the card to the card owner by the use of biometrics will aid in combating the current tidal wave of credit card fraud, said the President and CEO of SmartMetric, Chaya Hendrick. Having a credit card that has a miniature fingerprint reader inside that in turn scans a person's fingerprint and matches it with the card owner's fingerprint stored inside the card to turn on the card, is a monumental increase in payment card defences. It also provides the use of a biometric credential, in this case the person's fingerprint, that never travels across networks or leaves the consumer's card, said SmartMetric's President.

About SmartMetric, Inc.
SmartMetric is a publicly traded technology company that has added a fingerprint scanner built inside EMV payment credit and debit chip card
s, thereby creating a second layer biometric authentication protection in defending against card fraud. The company is now actively marketing its technology to card issuing financial institutions around the world. To find out more please go to 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
    EraStar, Inc.
    Office (702) 480-9800

    SmartMetric, Inc.
    Chaya Hendrick
    Office: 702-990-3687
    Email: ceo@smartmetric.com