NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB: SMME): Contrary to past thoughts that mobile phones would replace credit cards the reality is that credit cards remain the most dominant transaction choice.
Purchase Volume of Visa, Mastercard, American Express and Discover, consumer business and commercial cards issued in the U.S. generated $8.461 trillion in 2021. This was a staggering increase of 25.1% over 2020.2
“SmartMetric is the only known fingerprint biometric activated card in the credit card industry with a rechargeable battery that allows the card to be used in all card transaction situations, such as ATM’s and restaurants that process the card transaction away from the table,” said SmartMetric’s President and CEO, Chaya Hendrick.
The card holder simply touches a discrete sensor on the card's surface and in less than a second their fingerprint is scanned and matched with their pre-stored fingerprint in the card. Enhancing the security of the card user's biometrics, at no point does the user's fingerprint leave the secure memory inside the card.
The SmartMetric biometric in card ultra small electronics technology has been developed in-house by SmartMetric with its team of high level electronics engineers. SmartMetric is the only United States based company manufacturing advanced biometric cards.
There are now over 11 billion1 chip based cards issued worldwide.
SmartMetric technology is protected by issued licensed patents and patents pending along with trade secrets 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
2 Nilson Report – March 15, 2022
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