NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB:SMME) is pleased to announce that it has entered into an agreement and license to manufacture the SmartMetric biometric credit card with the Advantis credit and debit card EMV chip technology.
SmartMetric was founded in 2002 and has since been working on the creation of a biometric fingerprint reader to fit inside a credit card and other cards the size and thickness of a credit card. It has now successfully created a very thin circuit board that has over 200 passive and active components including a battery power management system along with a rechargeable very thin battery and a ARM Cortex processor for powering a sub 1 second fingerprint scan and match. When a card user touches the sensor on the surface of the card, the card’s internal fingerprint scanner instantly scans and matches the cardholder’s pre-stored fingerprint and, if matched in less than a second, turns on the credit card.
SmartMetric Inc. is a United States company with its head office in Las Vegas, Nevada. The company has fulltime electronics engineers in Tel Aviv, Israel, with sales and marketing operations in the United States, South America and Asia Pacific. SmartMetric will be expanding its sales and marketing into Europe as a result of its agreement with ServiRed, SA.
“We are excited by this agreement with ServiRed, who is a major European credit card network that also through its Advantis chip and card operating system will allow us to offer our advanced biometric credit and debit card solution to banks in Europe, South America and the United States,” said today SmartMetric’s President and CEO, Chaya Hendrick.
ServiRed, Sociedad Española de Medios de Pago, S.A. is Spain’s leading card payment scheme. It has 44 million cards in circulation, 1,147,077 merchants and around 32,421 ATMs. ServiRed has 100 members (banks, savings banks, and credit cooperatives), of which 67 are shareholders in the company.
The ServiRed scheme provides international interoperability through co-branding with Visa and MasterCard, for which it is licensed as a Group Member of Visa Europe and as a Principal Member of MasterCard Worldwide, and thus its members are empowered to issue Visa and MasterCard products and to acquire transactions made with them.
Advantis is an issuing technology based on the EMV standards, which provides the entire infrastructure necessary for processing payments. It focuses on addressing specific market needs by combining financial applications in the same platform: Visa, MasterCard and private label, with non-financial applications such as: electronic purse, electronic signature, transport or loyalty programs.
RedSys is the leading payment processor in Spain and the developer of the Advantis chip operating system. As of January 1st, 2019, RedSys has acquired from ServiRed, through company succession, the independent economic marketing unit of the Advantis System.
SmartMetric will be working closely with Advantis technology to offer customers worldwide a secure fingerprint biometrics credit card fully compatible with the international EMV standards.
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