SmartMetric Inc (SMME)

[ranger2118]

FRAUD AND SECURITY
3rd Oct 2013

SmartMetric
World First Fingerprint
Authentication Cards

SmartMetric claims to have developed a fully functional self powered fingerprint reader which can be built inside a credit card. To authorise transactions a scan is made of a cardholders fingerprint and an EMV chip is activated if the read is successful.
President & CEO Chaya Hendrick claims the technology is a world first, following a decade of development work, that will save financial institutions around the world billions in reduced fraud losses.

While SmartMetric is out talking about their fingerprint authentication technology, Mastercard has joined the FIDO Alliance to expand its standards to include fingerprint and other biometric identification. The FIDO Alliance is a group of 48 tech companies led by PayPal and Lenovo.

At the same time Visa and Mastercard have successfully contested a long standing $13.4 billion patent infringement claim that was raised by SmartMetric relating to the use of EMV chip technology.

The SmartMetric biometric identification technology is also being considered for medical identification and secure access applications. For further reading try Market Watch. To read more about the FIDO Alliance try USA Today.