SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

October 07, 2016 14:50 ET

It's the Anxiety & Sense of Violation Leading to a Loss of Trust That Concerns Consumers After Becoming Card Fraud Victims According to Biometric Card Maker SmartMetric

The Loss Of Trust Following Card Fraud Hurts Banks

NEW YORK, NY--(Marketwired - October 07, 2016) - SmartMetric, Inc. (OTCQB: SMME) -- A survey of credit card holders in the United States commissioned by SmartMetric Inc. shows 80% of card holders are concerned about credit card fraud.

In another survey conducted by ACI Worldwide and Aite Group (1) it reveals nearly half of U.S. consumers have experienced card fraud. while another survey (2) found that 56% of fraud victims changed their card use or shopping behavior after a fraudulent charge.

Forgotten in the mix of concern in the boardroom of banks over the billions of dollars a year lost directly from card fraud is forgotten or not even realized hidden cost. The massive cost to their respective banks from lost future business as card customers change their behavior following a card fraud event.

It's like a person being fixated on the size of an iceberg as it towers out of the water but forgetting the real gigantic size hidden under the waters surface. In reality, the cost of lost future business could well dwarf the immediate losses seen on the balance sheets of banks from credit card fraud, said today SmartMetric's President & CEO, Chaya Hendrick.

SmartMetric is the creator of the in-the-card fingerprint scanner for chip credit cards. It uses a SmartMetric developed miniature and super thin fully functional fingerprint reader that sits inside the credit card and security. The biometric reader is used to turn on the card's surface chip following a fingerprint match and prior to being inserted into card readers or ATMs.

The SmartMetric solution overlays biometric protection on top of the new chip card technology now being issued across the United States. There are now more than 4.8 billion chip payments cards issued globally.

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

(1) ACI Worldwide and Aite Group. 2016 Global Consumer Card Fraud: Where Card Fraud Is Coming From; infographic/summary and full report; July 2016. aciworldwide.com/fraud-survey/results

(2) Tender Armor. CNP Fraud Consumer Impact: Anxiety That Reduces Credit and Debit Card Usage; April 6, 2016. cvvplus.com/wp-content/uploads/2016/04/CNP-Fraud-Consumer-Impact-Study.pdf

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

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