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Thursday, 03/21/2024 2:18:26 PM

Thursday, March 21, 2024 2:18:26 PM

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NEWS


Biometric Fingerprint Secured Credit Card Manufacturer SmartMetric Reports up to 80% of USA Credit Cards Have Been Compromised
March 21, 2024 02:10 PM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTC: SMME): Up to 80% of all credit cards in circulation have been compromised. Studies suggest that as many as eight in ten credit cards that are currently issued have already been compromised by some sort of hack or data breach.1

“We are excited to have finally reached the stage of commercialization of our one of a kind advanced fingerprint activated biometric credit card”


SmartMetric leads the world in biometric credit card technology in having developed a biometric credit card that has an internal rechargeable battery that is used to power the fingerprint scanning of the card user independent of card reading terminals and ATMs. This allows the SmartMetric biometric card to be able to used “anywhere and anytime” a card holder wants to use their new biometric card.

“With so many credit card data breaches leaving a card holders credit card information in the hands of card fraud criminals, the use of on card biometric identity validation security, has become a necessity," said SmartMetric’s President and CEO, Chaya Hendrick.

The advanced SmartMetric biometric card has many other features not least is its hardware-based detection of a live finger. This provides the card with added security against fake fingerprint replicas making the SmartMetric biometric card the most secure card developed.

SmartMetric’s card enrolls a user’s fingerprint easily and as frictionless as experienced when enrolling a fingerprint on a smart phone. On receipt of the card, the user simply touches the card's fingerprint sensor four times. This stores the user's fingerprint permanently in the card making the card only useable when the owner of the card touches the sensor to turn on the card at the time they wish to make a payment.

In Q4 2022, credit card users reached a total of 166 million according to TransUnion, up from the prior three years. Among those users, new card accounts are growing, too. Over the past year, nearly half the population (47.5%) opened at least one new account, bringing the total number of accounts to over 518 million by the end of 2022 in the United States. 2

Market research has shown that 70% of current credit card users are willing to pay $70.00 for a biometric fingerprint secured credit card. The single largest motivation is wanting to be more secure and better protected against credit card fraud.

SmartMetric will soon be offering its biometric credit card product with an inbuilt inside the card fingerprint scanner. The SmartMetric biometric credit card is in the final stages of the card's lamination process. The credit card lamination is where the card's circuit board and electronics are encased in credit card plastic. This is the last stage of the manufacturing process which will allow SmartMetric to start to present its completed biometric GEN4 card to credit card issuers.

SmartMetric has set up its production to allow for mass card production. The company is now able to manufacture over a million cards per month with this being able to be increased substantially over the next 6 months.

“We are excited to have finally reached the stage of commercialization of our one of a kind advanced fingerprint activated biometric credit card," said SmartMetric’s President and CEO, Chaya Hendrick.

To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com

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