Biometric Security For The Next Generation Of Credit & Debit Cards : SmartMetric, Inc. (OTCQB: SMME)

• Biometric Fingerprint Scanning Inside Thr Card for Credit & Debit Card Fraud Protection.

• US Patent Office Protection Granted to Prevent Copy-Cat Versions. 

• The Only Biometric Credit Card That Can Be Used in ALL Card Readers.

• Sales and Marketing Partnerships in Latin America, Europe and the USA. 

• Introducing Multi Function Contact & Contactless Biometric Fingerprint Card Tech Using Internal BatteryAs Well As RFID Energy Harvesting 

• SMME Sees in 2022 Major Credit Card Industry Moving Forward with Adoption of Advanced Biometric Technology-Based Cards.

SmartMetric, Inc. (OTCQB: SMME) is a USA based Inside-The-Card fingerprint biometrics developer and manufacturer focused on advanced fraud protection measures for credit and debit cards worldwide. Hardware and software engineering is done internally by SmartMetric thus providing SMME with the capability of delivering enterprise-class products in a timely basis. The SMME manufacturing processes employ the latest techniques in miniature-sized memory and processor components production, allowing the company to provide a fully functional sub-micro computer on a micro thin circuit board embedded inside a credit card and identity card for instant fingerprint recognition. 

Global fraud losses worldwide reached $27.85 billion in 2018 and are projected to rise to $35.67 billion in five years and $40.63 billion in 10 years according to The Nilson Report, the leading global card and mobile payments trade publication. Losses of $27.85 billion in 2018 were up from $23.97 billion the year before. Credit, Debit and Pre-Paid cards generated $40.582 in transactions in 2018. An increase of 17.7% over 2017.

By 2023 total credit, debit and other payment card transaction volume is projected to reach $57.080 trillion. Gross card fraud is projected to reach $35.67 billion. It is further projected that by 2027 total card transactions will total $71.593 trillion.

SMME is a USA based company with sales and marketing partnerships in Latin America, Europe and United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company. SMME has issued patents and patents pending surrounding its biometric card technology.  

• SmartMetric Fingerprint Activated Biometric Credit Cards Have Issued Design Patents Protection

On February 23rd SMME reported it has been granted by the United States Patent Office design patents that carve out protection against would-be copycats.

Having spent nearly two decades on research and development to create a biometric solution inside a credit card, SMME has been awarded USPTO design patents that protect the company from any competitive company that would seek to introduce a smartcard or credit card with a Fingerprint Sensor on the card’s surface.

“We started developing a biometric credit card to use a person’s Fingerprint to activate the card’s chip before chip-based cards were even thought of being used in Banking,” said SMME President and CEO, Chaya Hendrick.

“This was a fringe idea when we first started while our first prototype was two inches thick. Most thought we were mad even thinking there would be a need for such a product,” said Ms. Hendrick. “After years of research and development we now find ourselves as the world leader in what is recognized as the next big thing in the credit card industry,” said the SMME CEO.

There are now over 11 billion chip-based cards issued worldwide for which the SMME biometric inside the chip card is able to bring the next level of biometric security.

• The SMME Biometric Fingerprint Protected Credit Card is The Only Biometric Credit Card That Can Be Used in ALL Card Readers

On February 16th SMME announced that its biometric fingerprint activated credit card is the only biometric credit card that works with all types of credit card readers, including ATMs. 

Recent entrants into the biometric credit card field attempting to copy the SMME Biometric Card have developed fingerprint activated cards that can not be used in all situations that a card user may want to use their card such as ATM’s and most restaurants. The limitation is because the European developed cards do not have an internal power source. Instead they must be inserted into a card reader while the card user holds the finger on a fingerprint sensor while it is in a card reader in order to work and perform a fingerprint scan. Unbelievably these cards need the card user to be touching the card’s fingerprint sensor while it is inserted in the card reader to work making it unusable in most ATM’s and Restaurants where the card is taken from the user to be processed.

SMME has spent a great deal of time and effort in research and development to build into its biometric fingerprint card an internal rechargeable power system that allows its card to be used in all types of card reading situations, even at ATMs that swallow the card as well as sitting at a restaurant table where they take the card from the table to a card reader for processing. In this situation the card holder simply touches the card’s fingerprint sensor, the user’s fingerprint is scanned and with a biometric match the card is turned on. The card is handed over to the restaurant staff member as a now biometric activated credit card who is then able to take the card away from the table to be processed at the restaurant’s card reader.

The SMME biometric credit card is the only self powered card in the world that a bank will be able to issue to its customers knowing that it will work for their customers anywhere and anytime they want.

The SMME Biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo 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.

• Combined Multi Function Contact & Contactless Biometric Fingerprint Activated Credit Card Using Energy Harvesting and Internal Battery

On January 26th SMME announced it has developed a biometric activated credit/debit card that uses standard credit card readers and ATM’s where the card is inserted into the reader as well as operating wirelessly using the credit and debit card readers RFID reading capability.

Credit and debit cards that are used in the standard credit card reader where the user puts the credit card into a physical slot on the card reader are called a contact cards. A credit and debit card that isn’t inserted into a card reader but rather is held over the top of the reader is called a contactless card. This operates on an RFID emission from the reader that reads an internal RFID chip sitting inside the card. Cards that have both contact function as well as the non-contact function are called dual interface cards.

SMME has created a dual interface biometric fingerprint activated “dual interface” card that can be easily use across all credit and debit card reader types. Further the SMME dual interface biometric card allows for multi sourced power and power recharging. When being used contactless by bringing the card into the proximity of a contactless card reader then the SMME card harvests power from the RFID electronic field being emitted from the card reader. This energy is used to power the cards internal processor used to perform the rapid sub one second biometric fingerprint match. Importantly, not only is the card powered through this wireless energy emission but excess power is harvested wirelessly to recharge the cards internal battery.

In the case of the card being inserted into a standard credit/debit card reader or ATM the SMME card is able to draw power directly from the card reader providing a rapid recharge of the card’s internal battery. The card’s internal battery is used to power a fingerprint scan by the card prior to its insertion into the card reader or ATM.

A dual interface card with both contact and contactless energy acquisition is something that makes the SMME biometric card a truly all situations and all card reading types solution for card issuing banks. This takes the credit card security to the next level beyond the less secure PIN number that is used today on credit and debit cards. Using biometric technology built into the card is a giant leap forward for credit and debit card security.

Because the SMME biometric card allows the card to be used in all real-life situations and isn’t bound to being held by the user while a transaction is taking place, SMME confidently believes that its biometric card solution is truly the most advanced and leading biometric card product in the world and the only truly practical biometric card solution for consumers and banks alike.

SMME addresses the multibillion existing chip-based credit and debit card market. 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.

• Biometric Credit Card with on the Card Fingerprint Recognition

On January 18th SMME announced in order to combat the ever-increasing battle against credit card fraud the company embarked on developing a safer and more secure credit card that has built inside of it real time instant user biometric fingerprint recognition.

The SMME credit card’s surface mounted chip is only able to work following an exact match of the card user’s fingerprint that has been prestored inside of the credit card. This means the card’s transaction chip is unable to function and complete a transaction if there is no biometric fingerprint match with the card user.

“SmartMetric is working on having its biometric card approved for use on a major global payments network that when the testing and approval is completed, will allow card issuing Banks and Financial Institutions around the world to adopt and use the ground breaking card technology developed by SmartMetric,” said SMME President and CEO, Chaya Hendrick.

What sets the SMME biometric card solution apart from the one or two biometric card companies trying to mimic the SMME biometric credit card is that the SMME card is designed with its own internal power source. This enables the card to function and perform the fingerprint scan prior to the card being inserted into a reader. Allowing the card to be used at regular ATMs and in situations where the card is used in places like a restaurant where the card is taken away from the dining table to be processed. Touch and store read once technology developed by SMME 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.

• Biometric Credit Cards are the Next Big Thing for the Banking Industry

On January 6th SMME announced according to independent consumer research contracted by SMME, 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 SMME 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 SMME 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 SMME biometric card is a fully functional fingerprint scanner. The scanner along with the powerful internal ARM Cortex processor stores the card holders’ fingerprint inside the card. At no time does the persons fingerprint ever leave the card and it doesn’t require the Bank to hold the card holders’ fingerprint.

Embedding the card holders’ 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 cards surface four times and thereafter the users fingerprint is permanently stored inside the card. From now on the card will only work in conjunction with the card holder touching the cards little square sensor on the top of the card.

According to industry data there are now more than 11 Billion chip-based payment cards issued globally. The SMME biometric card solution uses its miniature fingerprint scanner inside the card to identify and validate the card user and in under a second following a fingerprint match the card is then “turned on”. Enabling it to perform a credit card transaction.

For more information on SmartMetric, Inc. (SMME) visit: https://www.smartmetric.com . 

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Media Contact
Company Name: SmartMetric, Inc.
Contact Person: Media Relations
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Phone: (702) 990-3687
Address:3960 Howard Hughes Parkway, Suite 500
City: Las Vegas
State: NV 89109
Country: United States
Website: https://www.smartmetric.com/