NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB: SMME) has developed a biometric activated credit/debit card that uses the card holders’ fingerprint to turn on the card prior to insertion of the card into a card reader or ATM.
The cards payment chip will not function in a standard contact or contactless credit card reader or ATM without the cardholder’s fingerprint first being scanned and matched. The user’s fingerprint is prestored inside the card and the cards internal fingerprint scanner is used to scan and match the user’s fingerprint in order to activate the credit or debit card.
The scan and match of the card users fingerprint takes less than a quarter of a second. The biometric scan is frictionless as it takes less time than it takes to reach across to insert the card into a reader.
Credit and debit cards that are used in the standard credit card reader where the user puts the credit card into a physical slot on the card reader is called a contact card. A credit and debit card that isn’t inserted into a card reader but rather is held over the top of the reader is called a contactless card. This operates on an RFID emission from the reader that reads an internal RFID chip sitting inside the card. Cards that have both contact function as well as the non-contact function are called dual interface cards.
SmartMetric has created a dual interface biometric fingerprint activated “dual interface” card that can be easily use across all credit and debit card reader types. Further the SmartMetric dual interface biometric card allows for multi sourced power and power recharging. When being used contactless by bringing the card into the proximity of a contactless card reader then the SmartMetric card harvests power from the RFID electronic field being emitted from the card reader. This energy is used to power the cards internal processor used to perform the rapid sub one second biometric fingerprint match. Importantly not only is the card powered through this wireless energy emission but excess power is harvested wirelessly to recharge the cards internal battery.
In the case of the card being inserted into a standard credit/debit card reader or ATM the SmartMetric card is able to draw power directly from the card reader providing a rapid recharge of the cards internal battery. The cards internal battery is used to power a fingerprint scan by the card prior to its insertion into the card reader or ATM.
A dual interface card with both contact and contactless energy acquisition is something that makes the SmartMetric biometric card a truly all situations and all card reading types solution for card issuing banks said today SmartMetric’s President and CEO, Chaya Hendrick.
This takes the credit card security to the next level beyond the less secure PIN number that is used today on credit and debit cards. Using biometric technology built into the card is a giant leap forward for credit and debit card security.
Because the SmartMetric biometric card allows the card to be used in all real-life situations and isn’t bound to being held by the user while a transaction is taking place, SmartMetric confidently believes that its biometric card solution is truly the most advanced and leading biometric card product in the world and the only truly practical biometric card solution for consumers and Banks alike.
SmartMetric’s Biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo 1 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.
EMV is a registered trademark of EMVCo
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