NEWS: (IMAGE below) SmartMetric the Maker of Biometric Fingerprint Activated Credit Cards Says Research Shows Credit Card Fraud Causes Direct Damage to the Card Issuing Brand and its Relationship to its Credit Card Customers
Tue, March 28, 2023 at 1:00 PM EDT In this article:
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NEW YORK, March 28, 2023--(BUSINESS WIRE)--SmartMetric, Inc. (OTC: SMME) – When it comes to damage to a card issuing bank caused by financial fraud such as credit card theft, the damage goes far beyond the immediate financial loss for both the bank and the banks card customers.
SMARTMETRIC SAYS RESEARCH SHOWS 69% OF FINANCAIL FRAUD VICTIMS BECOME FEARFUL REGARDING THEIR PERSONAL FINANCIAL SECURITY
When asked how being a fraud victim made them feel, consumers respondents (69%) said they felt fear regarding their personal financial security. An even larger number felt frustration and annoyance (81%) while those who felt rage or anger was (58%)
These figures show that the emotions surrounding financial fraud are serious and significant in the minds of the banks customers when they become credit card fraud victims. The damage to the Banks brand and customer relationship stemming from a card fraud instance, based on these research figures, is extremely serious.
SmartMetric has created a biometric protected credit card that provides a safer card payment experience for card issuers customers. The SmartMetric credit card has an inbuilt fingerprint scanner that reads the card users fingerprint and activates the cards EMV chip as it is being inserted into a retail card reader or ATM. Only the legitimate card holder can use the card.
According to consumer research commissioned by SmartMetric 80% of card users are concerned about card fraud and identity theft. The same research of credit card holders showed that 68% of credit card holders would pay for a biometric credit card.
SmartMetric is offering its card to credit card issuing Banks who will in turn offer the new biometric card to their customers who are looking for greater protection.
SmartMetric is in the final stages of production of its newly revised and improved biometric credit card with it’s built inside the card nano fingerprint reader. The nano fingerprint reader inside the card is used to scan the card holders fingerprint. Only after a fingerprint match will the credit or debit card work.
Because the SmartMetric biometric card has an internal hybrid solid state rechargeable battery, the enrollment of a new users fingerprint is as simple as experienced in setting up biometric access on a smartphone. No special fingerprint readers or a trip to the bank is needed for a new card holder to enroll and embed their fingerprint inside their new SmartMetric biometric card. The other considerable advantage to the self-powered SmartMetric biometric card is that since it does not rely on a card reader to power the fingerprint reading function it can operate the fingerprint scanning of a persons fingerprint prior to them inserting it into a reader. This is critically important for using at most ATM’s and gas stations that have readers that swallow the card making it impossible for the card to work without the biometric scanning of the card users fingerprint before it is inserted into the card reading machine.
SmartMetric expects its new biometric card to be out of the assembly factory mid-April, 2023.
According to figures released by the credit card standards body EMVco more than 11 Billion EMV Chip cards have now been issued by financial institutions around the world. The SmartMetric biometric technology works with existing these EMV chips and existing chip card readers and ATM’s.
ABOUT THE SMARTMETRIC BIOMETRIC CARD: Keeping your biometric identity safe is at the center of the design of the SmartMetric biometric card. At no time does a card holder's fingerprint leave the card. A person’s fingerprint is stored inside the card and matching of the person's fingerprint is done on the card itself. This was a central design requirement of the SmartMetric biometric card solution that necessitated SmartMetric to create a self-powered inside the card, fully functional fingerprint scanner. Also, so that the card could be used at ATMs and POS (Point Of Sale) card readers the SmartMetric development team created an on card miniature power management system that recharges the card as it is being used in card readers.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card
To view the company website: www.smartmetric.com
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
NEWS: The SmartMetric Biometric Credit Cards Are the Next Big Thing for the Banking Industry
Tue, April 4, 2023 at 12:29 PM EDT In this article: SMME
NEW YORK, April 04, 2023--(BUSINESS WIRE)--SmartMetric, Inc. (OTC: SMME) - According to independent consumer research contracted by SmartMetric, 80% of U.S. cardholders are seriously concerned about credit card and identity theft, and 67% say they wouldn’t mind paying for biometric cards.
Research by Visa is in line with SmartMetric’s research.
More than 65% of consumers are already familiar with biometrics
86% are interested in using biometrics to verify identities or make payments
70% believe that biometrics are easier than using passwords or PINs
The SmartMetric biometric card solution for Banks provides a huge leap forward in credit card security, moving security away from PINs and signatures to the vastly stronger biometric fingerprint of the card user.
Built inside the SmartMetric biometric card is a fully functional fingerprint scanner. The scanner, along with the powerful internal ARM Cortex processor, stores the card holder's fingerprint inside the card. At no time does the person's fingerprint ever leave the card and it doesn’t require the Bank to hold the card holder's fingerprint.
Embedding the card holder's fingerprint into their biometric credit card is as easy as storing your fingerprint on your mobile phone. When the card user receives their card from their Bank, they simply touch the square sensor on the card's surface four times and thereafter the user’s fingerprint is permanently stored inside the card. From then on the card will only work in conjunction with the card holder touching the card's little square sensor on the top of the card.
"It was important for us to ensure that our card was absolutely frictionless for the card user in that it didn’t add time to but in fact speeded up the card payment experience at the checkout or ATM. Our biometric card allows for the doing away of PINs altogether. The fingerprint scan is done in less than a quarter of a second, thereby turning on the card and authenticating the user in less time it takes to reach across to the payment terminal or to insert into an ATM. Instant, seamless and secure are the hallmarks of our biometric card solution," said today SmartMetric’s President and CEO, Chaya Hendrick.
According to industry data there are now more than 11 billion chip-based payment cards issued globally. The SmartMetric biometric card solution uses its miniature fingerprint scanner built inside the card to identify and validate the card user. In under a second following a fingerprint match, the card is "turned on," enabling it to perform a credit card transaction.
SmartMetric is a USA based company with sales and marketing partnerships in Latin America, Europe the United Stated.
"Having spent years of research and development, SmartMetric has created what is considered to be one of the most advanced and leading-edge next generation credit card products in the credit card industry," said SmartMetric President and CEO, Chaya Hendrick..
Figures published by EMVCo 1 reveal that by year end of 2020, 10.8 billion EMV® chip cards have been issued by financial institutions and were in global circulation – a massive increase of nearly 1 billion credit and debit EMV® cards compared to the previous twelve months.
The SmartMetric in-the-card fingerprint scanner allows for the card's chip to only work following a successful scan and match of the card user's fingerprint. Unlike other biometric cards, the SmartMetric card does not need the card user to go into a bank branch to have their fingerprint stored on their new biometric card. Uniquely, the SmartMetric Biometric Card allows the card user to enroll their fingerprint when they first receive it at home as simply as it is when enrolling your fingerprint on a smartphone.
"Touch and store technology developed by SmartMetric for its biometric card allows mass card issuing financial institutions to issue their cards direct to the consumers as they normally do, without the need for consumers to come into a bank branch to activate their new biometric card. No specialized fingerprint readers or storing of the fingerprint on an online system is needed with the SmartMetric solution. Everything is done on and inside the card itself," said Chaya Hendrick.
SmartMetric’s founder Chaya Hendrick has licensed various issued patents she has invented, for use by SmartMetric. The company believes that the USA issued patents prohibit copycat companies from selling like products in the USA. Other patents internationally are now pending.
SmartMetric is on track to have the latest version of its advanced biometric card out of the company's contract electronic assembler by mid-April, 2023.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com
1 Data Source: 10 Billion and Counting: What the Latest EMV® Chip Data Means for Global Payments - EMVCo
EMV is a registered trademark of EMVCo
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
NEWS: SmartMetric Advises It Has Completed Electronic Assembly of Its New Biometric Card
NEW YORK, April 17, 2023--(BUSINESS WIRE)--SmartMetric, Inc. (OTC: SMME) has completed the electronic assembly of its new biometric card. The card is now being shipped to its engineering center to have the card's software, including the card's operating system, fingerprint sensing software and the card's advanced power management software, installed.
SmartMetric has separated its software from its electronic assembly process to add greater protection for its specialized and highly valuable software.
Following the card's software integration and final printing lamination SmartMetric will be presenting its card to a major global credit card payments network for final testing and approval for use of the card on the network worldwide.
Once network testing is completed, SmartMetric will then be making its card available to certain banks who are motivated to introduce the SmartMetric advanced biometric card to its credit card customers. Being an advanced new credit card offering the banks are looking at using the card to not only assist in the ongoing battle against credit card fraud but to have the card win them new customers who are attracted to using a biometric protected card for their daily credit card use.
As mentioned in an earlier media release by the company, independent research has shown that up 70% of existing credit card holders are willing to switch to a safer and more secure "biometric" credit card that has fingerprint scanning biometric technology inside. The same research showed these credit card users in the research survey said they are willing to pay $70.00 for a biometric credit card.
"What we have created is arguably the most advanced biometric secured credit card ever developed, a card that is designed to work at all card readers and allow mass credit card issuers to send the card to their customers for at home fingerprint in-card enrollment," said SmartMetric’s President and CEO, Chaya Hendrick.
Other less advanced biometric cards require the user to go into a bank and use a special reader to enroll their fingerprint onto a card. These basic cards also do not have their own power source but rather require the card to be held while in a credit card reader. This makes them unable to work in most ATMs, gas pumps and restaurants.
"There is nothing that comes near the advanced level of the SmartMetric biometric credit card," said Chaya Hendrick.
The SmartMetric card also has a new hardware feature built inside that detects whether or not the fingerprint touching the card's sensor is in fact a live person or say a silicon replica of a fingerprint. No other biometric card on the market has this feature. Rather they say they are using software to achieve live detection; however, our own engineering testing has shown that software cannot adequately achieve proper fingerprint detection discernment between a fake fingerprint and a live fingerprint.
"Our card is in our opinion the most advanced biometric credit card to be made. It is also protected by issued patents in the USA that will allow us to file injunctions against copycats who want to copy what we have spent years in developing," said Chaya Hendrick.
Patents have also been filed in accordance with the Hague convention internationally.
According to figures released by the credit card standards body EMVco more than 11 billion EMV Chip cards have now been issued by financial institutions around the world. The SmartMetric biometric technology works with these EMV chips and existing chip card readers and ATMs.
ABOUT THE SMARTMETRIC BIOMETRIC CARD: Keeping your biometric identity safe is at the center of the design of the SmartMetric biometric card. At no time does a card holder's fingerprint leave the card. A person’s fingerprint is stored inside the card and matching of the person's fingerprint is done on the card itself. This was a central design requirement of the SmartMetric biometric card solution that necessitated SmartMetric to create a self-powered inside the card, fully functional fingerprint scanner. Also, so that the card could be used at ATMs and POS (Point Of Sale) card readers the SmartMetric development team created an on card miniature power management system that recharges the card as it is being used in card readers.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card
To view the company website: www.smartmetric.com
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
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