NEW YORK--(BUSINESS WIRE)--
SmartMetric, Inc. (OTC: SMME) having spent years of R&D and investment of over $33 million, SmartMetric holds what is believed to be an unassailable technological lead in the new biometric fingerprint activated credit card industry.
Leading credit card brands have now accepted the introduction of biometric credit cards. This heralds the use of biometric technology built into credit cards as the next generation advanced security evolution of the most used form of payment, the credit card.
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 ATM’s. This allows the SmartMetric biometric card to be able to 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, ATM’s and restaurants that process the credit card charging away from the table. These non powered cards require the card to be inside a contact reader and the card holder needs to hold the card in the reader for contact credit card payments. Because they do not have an internal rechargeable power source they are dependent on power coming from the card reader. Making them unusable in many credit card transaction situations.
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.
SmartMetric’s card enrolls a user’s fingerprint easily and as frictionless as experienced in enrolling a fingerprint on a smart phone. On receipt of the card, the user simply touches the cards fingerprint sensor four times. This stores the users fingerprint permanently in the card making the card only useable when the owner of the card touches the sensor to turn on the card at the time, they wish to make a payment.
Because smart phones are intrinsically insecure because of their susceptibility to hacking from insecure apps and other hacking methods, phones are not trusted as being safe and secure for payments by the vast majority of consumers. That is why card-based payments far exceed phone-based payments in volume and transaction dollars.
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:
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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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