Why SmartMetric biometric technology is the ultimate identity validation for credit cards and why other biometric card designs fail

NEW YORK–(BUSINESS WIRE)–SmartMetric, Inc. (OTCQB: SMME): Years of research and development have gone into designing and creating what SmartMetric considers to be the most advanced biometric card solution ever developed for the industry credit cards.

After spending nearly two decades in research and development, nearly half of which was perfecting rechargeable internal energy technology, the SmartMetric biometric card is the only card specifically designed to work on all credit card readers. This is due to the advanced internal power system which allows the SmartMetric card to scan and match the user’s fingerprint before the card is inserted into a card reader. You might be wondering why is this important for the actual usage and adoption of biometric credit cards? Simply put, from ATMs (automated banking machines) to the present day in the United States, gas pump chip credit and debit card readers invariably “swallow” the card in the process of reading the card. . So why does it matter when it comes to feeding a biometric fingerprint scan through the card? Some companies that have designed alternative biometric cards to that of the SmartMetric biometric card, have not spent the extraordinary time in research and development that SmartMetric has. Therefore, they do not have an independent self-contained internal power system inside their cards, but rather rely on the card reader power supply to power their fingerprint scanning function. Here, then, lies the inherent and designed-to-fail weakness of biometric cards from those companies that rushed to copy the SmartMetric biometric credit card. They will not work with all ATMs and gas pumps in the United States. These alternative biometric cards must be held inside the reader, with the card user holding their finger on a surface sensor on the card while these non-self-powered cards are powered by the card reader to perform the function scanning and biometric matching.

“What we have created is the most advanced and superior biometric card technology that has been designed for the real-world card user, providing the ultimate security for card users’ card and validation absolute identity for bank card users, far beyond the simplistic and low security four-digit personal identification number (PIN),” said SmartMetric President and CEO Chaya Hendrick .

Chaya Hendrick added: “We don’t know of any card-issuing bank in the United States that would resist customer refusal if they even attempted to issue a biometric credit or debit card that could not be used in most ATMs or gas pumps. Decades of research and development of SmartMetric’s super slim and powerful miniature storage and power management system have undoubtedly made the SmartMetric biometric debit and credit card solution the most advanced biometric card in the world.

The SmartMetric card uses a near-paper-thin hybrid solid-state battery connected to an advanced fast-charging power management system inside the card that allows the card to scan and match biometrics a person’s fingerprints before the card is inserted into the ATM or gas pump reader, making it the world’s first and only biometric card solution that will work in these devices.

“We could have skipped creating the internal energy storage and management system for the sake of speed,” Chaya Hendrick said. “If we had done that, we could have easily released a biometric card years earlier that depended on card reader power and would only work in card readers that didn’t swallow the card. SmartMetric has made the now correct decision to continue its research and development and create what is now the most advanced self-contained internal power system inside the biometric card, which now allows the card to be used for all types of credit and debit card reading.

When the card user approaches the card reader, in a store, gas pump or ATM, all they have to do is touch a sensor on the surface of the card which automatically and in less than a quarter second scans, associates and then turns on the card, all within the time it takes for the card user to insert the card into the credit or debit card reader. Of course, if the user’s fingerprint does not match the pre-enrolled fingerprint inside the card, the credit or debit chip card will not work, providing the ultimate in credit and debit card security using the person’s biometrics as a user validator. and identifier for transactions, light years ahead of the much weaker older PIN code used today.

SmartMetric is excited about its cutting-edge technology and is in the process of bringing its biometric card to market.

The company has experienced supply chain and manufacturing delays for its latest iteration of its biometric card due to the pandemic and its lockdowns. However, the company is eagerly awaiting the release of its new board with its most advanced solid-state hybrid battery in the coming weeks. It will then be presented to the credit card networks for testing and approval.

SmartMetric has also developed advanced energy harvesting technology that uses energy emitted from contactless card readers to power its biometric functions as a secondary power source. More details on this will be disclosed in future press releases.

The SmartMetric hybrid solid-state battery is recharged when the card is inserted into a standard credit card reader, creating an endless power and recharge cycle as the card is used. The board’s internal battery can stay on standby with absolutely minimal power degradation. The card’s lifespan is over 5 years, well beyond the standard usable life of plastic-only credit and debit cards.

SmartMetric’s biometric card addresses the existing multi-billion chip credit and debit card market. The figures published by EMVCo 1 reveal that by the end of 2020, 10.8 billion EMV® smart cards were issued by financial institutions and were in circulation around the world – a massive increase of almost a billion credit and debit EMVs® charts compared to the previous twelve months.

To view the SmartMetric Biometric Card, please follow this link – SmartMetric Biometric Card Video. To view the company’s website: www.smartmetric.com

1 Data source: 10 billion and counting: what is the latest EMV?® Chip Data Means for Global Payments – EMVCo

EMV is a registered trademark of EMVCo

Safe Harbor Statement: The forward-looking statements contained 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. In addition, such forward-looking statements are as that term is defined 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 such forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate” , “believe”, “estimate”, “predict”, “potential”, “continue”, “probable”, “should”, “would” and variations of these similar terms and expressions, or the negative of these terms or expressions similar. These forward-looking statements are necessarily based on estimates and assumptions that, although considered reasonable by us and our management, are inherently uncertain. Factors that could 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 growth plans; changes in the competitive environment of our industry and the markets in which we operate; our ability to access capital markets; and other risks discussed in the Company’s filings with the United States Securities and Exchange Commission, including our Annual Report on Form 10-K, which documents are available from the SEC. We caution you not to place undue reliance on forward-looking statements, which are made as of the date of this press release. We undertake no obligation to publicly update these forward-looking statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting the forward-looking statements, except to the extent required. by applicable laws. If we update one or more forward-looking statements, no conclusion should be drawn that we will make additional updates with respect to such or other forward-looking statements. Investors and security holders are urged to carefully review and review each of SmartMetric Inc.’s public filings with the SEC, including, but not limited to, where applicable, annual form reports. 10-K, proxy statements, Current Reports on Form 8-K, and Quarterly Reports on Form 10-Q.

Comments are closed.