SOURCE: SmartMetric, Inc.

March 23, 2010 10:17 ET

SmartMetric Alleges Patent Infringement Violation by Credit Card Companies

Patent Infringement Lawsuit by SmartMetric Against Major Credit Card Companies Threatens Significant Credit Card Business

SURFSIDE, FL--(Marketwire - March 23, 2010) - Speaking from the offices of SmartMetric, Inc. (OTCBB: SMME) the company President & CEO, Mr. Colin Hendrick, said today that the Federal Lawsuit filed on the 15th of March 2010 against both MasterCard and Visa by SmartMetric alleges significant patent infringement and the company will be pursuing damages and costs against both Visa and MasterCard. An example of a new technology that the company believes infringes its patent is spoken about in a media release by MasterCard dated March 2009.

MasterCard as of the 4Q, 2008 had issued 50 million PayPass cards or devices. In the patent infringement lawsuit filed by SmartMetric, the company will be pursuing damages and relief from both MasterCard and Visa.

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 Contact:
    Redwood Consultants, LLC

    Company Contact:
    SmartMetric, Inc.
    Colin Hendrick
    Email Contact