NEW YORK--(BUSINESS WIRE)--
SmartMetric, Inc. (OTC: SMME) recognizing the advanced security features of credit cards with built in biometric recognition technology both Visa2 and MasterCard2 have adopted the use of biometric credit cards over their respective payment networks.
As with any new disruptive technology, SmartMetric sees that in the first instance there will be a steady adoption take up and then we will see a dramatic S-curve adoption of biometric cards as banks and consumers alike are drawn to the advanced security of credit cards that have inbuilt biometrics.
“SmartMetric is the original developer of biometric credit cards and having spent literally years and millions of dollars in R&D to reduce the size of biometric electronics to fit inside a credit card, finds that it has created the most advanced and user-friendly biometric credit card in the world," said SmartMetric’s President and CEO, Chaya Hendrick.
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 used “anywhere and anytime” a card holder wants to use their new biometric card.
Other less advanced cards have begun trials in Europe that are not self-powered. This is a huge disadvantage over the SmartMetric card as a non-powered biometric card will not work at a lot of gas stations, ATMs and restaurants that process the credit card charging away from the table.
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.
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.1
84% of U.S. adults had a credit card in 2021. About 73% of Americans have a credit card by age 25, making credit cards the most common first credit experience for young adults.1
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.
To view the SmartMetric Biometric Card please follow this link - . To view the company website:
1
2 Visa and MasterCard are trademarks owned by their respective corporations.
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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