SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

January 31, 2014 10:12 ET

SmartMetric's Payment Card Can Help Bitcoin Surpass Top Payment Networks in Volume

With More Than $287,000,000 in Daily Transaction Volume Bitcoin Is Now Larger Than Western Union and Quickly Moving to Eclipse PayPal

NEW YORK, NY--(Marketwired - Jan 31, 2014) -  SmartMetric, Inc. (OTCQB: SMME), a developer of patented payment card technologies and the first biometrically protected bitcoin payment card, today announced that its soon-to-launch SmartMetric Biometric Bitcoin Card™ can help further accelerate bitcoin's adoption and usage rates. SmartMetric's card is the world's first biometric, fingerprint secured, off-line storage platform for bitcoins. It makes using bitcoins as easy as using a standard debit or credit card that is tied to the dollar or any other traditional currency.

According to numbers published by www.bitcoinwatch.com the past daily average of bitcoins traded was 359, 846 which equates to a daily trading US dollar transaction value of $287, 876, 800 per day. This already is greater than Western Union's $216,000,000 and fast approaching PayPal's $397,000,000 estimated daily transaction volume. 

"In the next one or two years, bitcoin can surpass the dollar transaction volumes of other established payments companies including Discover, and even American Express, MasterCard, and Visa," stated SmartMetric CEO Chaya Hendrick. "Cards from the largest payment card companies can't be used for very large dollar value transactions such as buying and selling cars and homes. Bitcoin can and is. Bitcoin is an all pervasive payments system suitable for anything from micro-purchases to seven-figure ticket items. This means it has the potential within a short period of time to transact daily and annual dollar volume amounts that eclipse today's payments giants, Visa and MasterCard. By making spending bitcoins even easier, our SmartMetric Biometric Bitcoin Card™ can contribute to this phenomenon."

The Market Cap as of today based on the latest price of Bitcoin is $9, 867, 023, 336 USD.

"An analysis of these charts shows that the number of daily bitcoin transactions has been less volatile than the bitcoin transaction volume in terms of dollars. This points to the use of bitcoin accelerating in a more consistent way than most people realize. When combined with large ticket purchases, this can really have an impact on how quickly bitcoin can surpass established payment systems," Hendrick added. 

About SmartMetric Biometric Bitcoin Card™

The SmartMetric Biometric Bitcoin Card is the world's first biometric, fingerprint secured, off-line storage platform for bitcoins. The card offers the benefits of bitcoins such as peer-to-peer transactions and card-to-card direct bitcoin sending anywhere in the world, while enabling real-time, in-person standard payment transactions at merchants and compatibility with standard ATMs around the world. Advanced patented payments card technology combines with the world's first fingerprint technology to use the cardholder's unique biometrics to lock and unlock the SmartMetric Biometric Bitcoin Card, providing safety and discrete portability.

About SmartMetric

SmartMetric, Inc. (OTCQB: SMME) develops patented biometric technologies used for security and identification, including the world's smallest fingerprint reader. The Company's proprietary advanced miniature electronics technology uses sub-micro computers to create fingerprint and security applications that were not previously possible. The world's smallest fingerprint reader is designed to fit inside standard payments cards as well as ID cards. Because of the miniature size of the electronics it is ideal for use in a broad array of products requiring an enhanced identification system. SmartMetric's products include the SmartMetric Biometric Bitcoin Card™, the SmartMetric Intelligent Card OS™, and MedicalKeyring™ a medical emergency biometric card. For information on SmartMetric and its technology 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:
    Jens Dalsgard
    ConstellationAA.com
    +1.775.771.5808

    SmartMetric, Inc.
    Chaya C. Hendrick
    President & CEO
    +1.786.269.2238
    ceo@smartmetric.com