$tacks Upon $tacks Of Moolah

[ProfitScout]

$SMME is being very well positioned to serve the security needs of the massive numbers of credit and debit cards users around the world today. This need has never been greater and the SMME team is right on time with the its advanced biometrics based platforms to counter the increasing threat of illicit card use.

From the SMME news:

The more than 10 billion chip-based credit and debit cards issued throughout the world have been issued by banks in order to provide increased card security. By now adding fingerprint biometric sensing technology used to activate the cards contact and contactless chip, it takes security for credit cards to the next level.

Interesting for SmartMetric and card issuing banks is that the consumer research is showing that bank customers are willing to pay for biometric credit card. This is based on the consumer's desire to have a safer technology that aids in protecting against card fraud. For banks card customers, the concern of card fraud goes well beyond the financial loss they may or may not experience.

Card customers find the whole experience of having their financial safety violated unpleasant. It is a logical as well as an emotional reaction by consumers. The sense of violation along with the general concern for their financial safety is the main driving force as to why the research is showing so many existing card customers are willing to pay for a biometric card.

For card issuing banks, they also are advantaged by the increased security offered by biometric credit and debit cards, while at the same time being able to turn their cards into a revenue generating new source of income, making the credit card a new consumer device in its own right.

https://www.businesswire.com/news/home/20210618005502/en/