SmartMetric Inc (SMME)

[Bo_Donkey]

I think that SMME might have a viable product at some point in time, but just to keep people thinking clearly I think we need to clarify. Most of the vulnerabilities people are talking about have been known since the mid-2000's. Merchants are being forced to update their system to accept new EMV technology. Along with this update the tap-and-pay systems are also being updated to act more like the tokenized payments made when the card is inserted. When the thief scans the card they are going to get back an encrypted number that doesn't help them one bit. No longer will they get name, card number, expiration. Even for the older cards this has already changed. Systems now have a dynamic CCV that is based on the last transaction and can't be cloned or derived from the card. With secure EMV cards costing in the neighborhood of $4 with tap-and-pay built in, I'm not sure about $50 for one with a fingerprint sensor. Maybe, maybe not. It would be nice to know what the company's margin will be per card at that price. Anybody know?

I like the idea of a secured USB so much more, personally. I just don't see the advantage of the card anymore. Several years ago (when I invested), yes. Now, not so much.

GLTA