NEW YORK, NY--(Marketwired - Nov 3, 2014) - SmartMetric, Inc. (
According to the President and CEO of SmartMetric, the recent security exposures of EMV are nothing new and that while EMV is a stronger security technology to the 40 year old mag strip it is by no means a full proof protection against credit card fraud. She said, that is why even in countries that have adopted EMV chip cards such as the United Kingdom haven't seen an eradication of card fraud. According to industry figures after EMV cards were adopted in the UK a reduction of only 50% of Card fraud took place. While this reduction in dollar terms was significant EMV didn't eliminate fraud but only reduced it by 50%.
SmartMetric has created the next generation EMV card with a built in fingerprint sensor that goes beyond the old password and PIN and uses a person's biometrics to activate validate the user and activate the chip card.
SmartMetric is preparing for its release of its new fingerprint activated card after having signed a contract manufacturing agreement with a major electronics manufacturer and credit card manufacturer.
According to the industry Association called EMV co. There are more than 1.6 billion chip EMV cards in use worldwide. The USA is the last advanced country to adopt EMV with the payments networks and banks mandating a liability shift for card fraud losses to retailers for those retailers who haven't changed over to EMV Chip card readers by October 2015.
About SmartMetric, Inc. 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. 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
222 S. Magnolia Ave.
Sanford, FL 32771-3122
Office: 407-585-1080
SmartMetric, Inc.
Chaya Hendrick
Office: 702-990-3687
Email: ceo@smartmetric.com