SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

June 25, 2014 09:00 ET

The SmartMetric Case in the Federal Circuit Court Against Defendants, MasterCard International and Visa Inc for Claimed Patent Infringement of a SmartMetric Issued Patent Is to Be Heard on August 8, 2014

NEW YORK, NY--(Marketwired - Jun 25, 2014) - SmartMetric, Inc. (OTCQB: SMME) -- The Federal Circuit Court has scheduled hearing of the patent infringement case, SmartMetric vs MasterCard International and Visa Inc. for August 8th, 2014.

SmartMetric is seeking a ruling from the Court that both MasterCard and Visa have and are currently infringing the SmartMetric issued patent that covers data cards that are inserted into readers that then cause an automatic connection to a network. SmartMetric is claiming that the new EMV chip cards used and introduced into the United States by Visa and MasterCard are such data cards that are described in the SmartMetric patent.

"SmartMetric is welcoming its case being heard in August and is looking forward to the panel of three Judges, who are all expert in patent law, examining the facts of the SmartMetric case against the payments card companies, Visa and MasterCard," said the President & CEO Chaya Hendrick. "SmartMetric is also seeking the Court to find that the defendants, Visa and MasterCard, be held liable to pay a royalty to SmartMetric of 25% of the economic benefit flowing from the use of the SmartMetric technology calculated on the value of fraud reduction from the use of the new EMV chip cards," she added. Earlier Court filings have put the patent infringement claim against Visa Inc and MasterCard International at $13.4 Billion.

SmartMetric is a publicly traded technology company that has added a fingerprint scanner built inside EMV payment credit and debit chip cards 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.

About SmartMetric, Inc.
SmartMetric, Inc. is a technology company that designs and engineers its own advanced products utilizing the company's expertise in miniaturizing electronics. The company has developed a miniature fingerprint self powered fingerprint scanner and reader that fits inside credit and identity cards that are at the center of SmartMetric Inc.'s advanced biometric products. For more information please visit 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

  • CONTACT INFORMATION:

    Investor Relations
    EraStar, Inc.
    (702) 480-9800

    Company
    SmartMetric, Inc.
    Chaya Hendrick
    Office: 702-990-3687
    Direct: 786.269.2238
    Email: ceo@smartmetric.com