NEW YORK--(BUSINESS WIRE)--
SmartMetric, Inc. (OTC: SMME) says that Visa, Mastercard and other payments networks are reported to now have more than 6.7 billion credit cards issued worldwide. The following is the breakdown of cards in circulation per network brand. Visa 3.94B, Mastercard 2.58B, American Express 122M, JCB 144M, Diners Club 66M.1
EMVco, the international card standards organization governing EMV payments chips used in today’s credit and debit card report more than 11 billion cards with EMV chips have been issued worldwide.
The SmartMetric biometric fingerprint recognition technology built inside of the credit and debit card uses embedded biometric technology to positively recognize the card holder and turn on the cards EMV contact and contactless payments chip.
As of November 2022, with 3.94 billion credit cards in circulation, Visa has more cards in circulation than all the other major credit card brand networks combined.
“We have created the next move forward in making credit and debit cards safer, by adding fingerprint recognition biometrics inside the card. Only the card users’ fingerprint can turn the card on at a payments terminal or ATM making the SmartMetric created biometric credit and debit card immeasurably more secure for users and banks than today’s cards,” said SmartMetric’s President and CEO, Chaya Hendrick.
SmartMetric sees the adoption of biometric credit cards being driven primarily by card users. Apart from the majority of card users saying they would prefer to use a biometric credit card, the driving motive for consumers is the added security perceived when using biometric secured cards. Banks and payments processors also benefit tremendously when biometric credit and debit cards are used as they can be configured to message the payments networks that a biometric card is being used that has positively identified the legitimate card user at the point of the card being used in a card transaction.
“SmartMetric has taken well over a decade in developing its advanced biometric credit card. Our biggest issues in making this product have been in shrinking the electronics to fit inside of a credit card. When we first started on this biometric card journey are first proto-type was a half inch thick. We now have reduced the thickness of all of our electronics to less than a quarter thickness of a standard credit card,” said 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 the added security against fake fingerprint replicas making the SmartMetric biometric card the most secure card developed.
Market research has shown that 70% of current credit card users are willing to pay $70.00 for a biometric secured credit card. The single largest motivation is wanting to feel more secure. The same research showed that nearly 70% of existing 100’s of millions of credit card users would prefer to use a biometric credit card.
To view the SmartMetric Biometric Card please follow this link - . To view the company website:
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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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