NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB: SMME) has been granted by the United States Patent Office design patents that carve out protection for SmartMetric against would-be copycats.
Having spent nearly two decades on research and development to create a biometric solution inside a credit card, SmartMetric has been awarded USPTO design patents that protect the company from any company that would seek to introduce a smartcard or credit card with a Fingerprint Sensor on the card's surface.
“We started developing a biometric credit card to use a person’s Fingerprint to activate the card's chip before chip-based cards were even thought of being used in Banking,” said SmartMetric’s President and CEO, Chaya Hendrick.
“This was a fringe idea when we first started while our first prototype was two inches thick. Most thought we were mad even thinking there would be a need for such a product,” said Ms. Hendrick. “After years of research and development we now find ourselves as the world leader in what is recognized as the next big thing in the credit card industry,” said SmartMetric’s CEO.
There are now over 11 billion chip-based cards issued worldwide for which the SmartMetric biometric inside the chip card is able to bring the next level of biometric security.
SmartMetric’s Biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo1 reveal that by year end of 2020, 10.8 billion EMV® chip cards have been issued by financial institutions and were in global circulation – a massive increase of nearly 1 billion credit and debit EMV® cards compared to the previous twelve months.
SmartMetric is a USA-based company with sales and marketing partnerships in Latin America, Europe and United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.
SmartMetric has issued patents and patents pending surrounding its biometric card technology.
1 Data Source: 10 Billion and Counting: What the Latest EMV® Chip Data Means for Global Payments - EMVCo
EMV is a registered trademark of EMVCo
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