SmartMetric Inc (SMME)

[StockMedic1]

According to the PR's and a few posters here, the entire biometric platform resides on the card. That means everything is done at the card level, and if passed, activates the chip on the card that can process the financial transaction. Basically the biometrics is separate and the "chip" is an integrated, "external" device that is activated once the biometrics is passed. The way it has been explained by the company is that a persons biometric is NOT stored by the bank issuer and the back end system only processes the financial transaction via the "chip"....the biometric on the card is a glorified PIN code, so to speak. Thats why it could have been demonstrated in Orlando, but for some reason, wasn't. Even though the biometrics authentication and the financial chip are both integrated into the card, they each perform separately.

http://www.chayacoleena.com

This explains a lot to me.