SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

February 22, 2016 10:40 ET

SmartMetric The Maker Of The Biometric Fingerprint Secured Credit Card Says Recent Report Shows An Alarming $15 Billion Was Lost In The United States To ID Fraudsters In 2015

NEW YORK, NY--(Marketwired - February 22, 2016) -  SmartMetric, Inc. (OTCQB: SMME) Identity fraud research report by Javelin Strategy and Research shows that in 2015 the total number of victims at 13.1 million, and the total dollar value at $15 billion.

The report reveals identity fraudsters have stolen $112 billion in the past six years. That equals $35,600 stolen per minute, or enough to pay for four years of college in just four minutes.

We have created a more secure payments card that doesn't rely on vulnerable PIN's or passwords but instead uses a person's own biometrics to secure transactions. Using a person's fingerprint, a card user simply swipes their finger across a small sensor on the cards surface which is immediately scanned and matched with the cards internal fingerprint reader and only following a match with the card user will the card be turned on in order to work at the ATM or retail card reader.

We have taken card security to the next level using biometrics while using the existing payment card infrastructure allowing the new SmartMetric biometric payments cards to be used without the need to install additional retail card readers or ATM's. Our biometric payments cards are a giant leap forward in the ongoing war against card and identity theft that is costing the United States consumer billions of dollars a year said today SmartMetric's President & CEO, Chaya Hendrick

The SmartMetric biometric card uses a miniature super thin fingerprint reader that sits inside EMV chip cards. There are more than 3.4 billion EMV chip cards in use around the world. SmartMetric is looking at selling into this market at a price of $50.00 per card.

SmartMetric is now in talks with card issuing Banks in North America and Europe and will be soon introducing its card to Banks in South East Asia and Latin America.

About SmartMetric: SmartMetric has created a safer and better user validation and identification technology for payment and identity cards using a person's individual and unique biometrics to validate and identify the card user. The company has created a super miniature fully functional powerful fingerprint scanner that fits inside a payments card as well as identity and secure log on cards. Using an internal Cortex processor built in the card the SmartMetric biometric card scans, reads and matches a person's fingerprint in less than 0.25 seconds. The card's internal scanner is powered by a rechargeable battery developed by SmartMetric and also embedded inside the payments and identity card. SmartMetric is a publicly traded fully reporting company on the United States OTCQB exchange.

To view a video of the SmartMetric biometric chip card follow this link -- https://youtu.be/zSX59uHoHqU. To view the company website: www.smartmetric.com.

Safe Harbor Statement: This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company's actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in the Company's expectations or future events. 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

  • SmartMetric, Inc.
    Head Office:
    702.990.3687

    Media Enquiries Direct: 
    786.269.2238
    Email: info@smartmetric.com

    Investor Relations
    Everest Corporate Advisors, Inc. 
    702.334.7791 or 415.250.0105