SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

September 11, 2014 10:48 ET

SmartMetric Welcomes the Adoption of Biometrics in Payments by Apple as It Validates the Security Advantages Biometrics Which Is Used in SmartMetric Credit and Debit Cards But Has Serious Security Concerns About Credit Card Payments on Mobile Phones

NEW YORK, NY--(Marketwired - Sep 11, 2014) - SmartMetric, Inc. (OTCQB: SMME) SmartMetric says the release by Apple of a mobile phone based payments system using biometrics is a sensible use of biometric technology. However in many respects it fails to protect users from the inherent security flaws and weaknesses of mobile phones themselves as a secure platform, said the President & CEO of SmartMetric, Chaya Hendrick.

Chaya Hendrick said, "Malware is easily available that can be inserted into a users mobile phone, including Apple phones, that can not only steal every bit of information stored in the phone but can remotely turn on the phones microphone, take GPS information as well as log remotely every key stroke a user makes on their phone. Phones as a secure platform are inherently untrustworthy because a phone is always connected to a network. It acts as a node on a vast interconnected network and as such is open to unauthorised intrusion at any time."

The Apple payments system is basically a wallet system. A wallet payment system requires the user to store their existing credit card information in a piece of software that is stored in this case on a mobile phone. Other attempts at selling the public on the adoption of wallets has failed with the security concerns of using such a technology given as the biggest reason.

Brian Honan, a computer security expert, as quoted in "The Register," stated that Apple enrolment process involves taking a picture of a card, a security concern particularly in the immediate wake of the recent celebrity nudie iCloud privacy leak. Honan said: "To use Apple Pay you take a photo of your credit card to enrol it in the system. Hmm, Apple, photos and security."

The SmartMetric payments solution uses the existing payment card infrastructure including chip card ATM's and Point Of Sale terminals. SmartMetric has embedded a fully functional fingerprint scanner inside payments cards that is used to turn on the card after a users fingerprint validation. SmartMetric says its use of biometrics being embedded inside cards brings biometric security mainstream using a credit and debit card as its platform. It works with EMV chip cards. There are more than 1.6 billion chip cards in use around the world according to figures released by the standards company EMVco.

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