SmartMetric Advises It Has Completed Electronic Assembly of Its New Biometric Card

NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTC: SMME) has completed the electronic assembly of its new biometric card. The card is now being shipped to its engineering center to have the card's software, including the card's operating system, fingerprint sensing software and the card's advanced power management software, installed.

SmartMetric has separated its software from its electronic assembly process to add greater protection for its specialized and highly valuable software.

Following the card's software integration and final printing lamination SmartMetric will be presenting its card to a major global credit card payments network for final testing and approval for use of the card on the network worldwide.

Once network testing is completed, SmartMetric will then be making its card available to certain banks who are motivated to introduce the SmartMetric advanced biometric card to its credit card customers. Being an advanced new credit card offering the banks are looking at using the card to not only assist in the ongoing battle against credit card fraud but to have the card win them new customers who are attracted to using a biometric protected card for their daily credit card use.

As mentioned in an earlier media release by the company, independent research has shown that up 70% of existing credit card holders are willing to switch to a safer and more secure “biometric” credit card that has fingerprint scanning biometric technology inside. The same research showed these credit card users in the research survey said they are willing to pay $70.00 for a biometric credit card.

"What we have created is arguably the most advanced biometric secured credit card ever developed, a card that is designed to work at all card readers and allow mass credit card issuers to send the card to their customers for at home fingerprint in-card enrollment," said SmartMetric’s President and CEO, Chaya Hendrick.

Other less advanced biometric cards require the user to go into a bank and use a special reader to enroll their fingerprint onto a card. These basic cards also do not have their own power source but rather require the card to be held while in a credit card reader. This makes them unable to work in most ATMs, gas pumps and restaurants.

“There is nothing that comes near the advanced level of the SmartMetric biometric credit card,” said Chaya Hendrick.

The SmartMetric card also has a new hardware feature built inside that detects whether or not the fingerprint touching the card's sensor is in fact a live person or say a silicon replica of a fingerprint. No other biometric card on the market has this feature. Rather they say they are using software to achieve live detection; however, our own engineering testing has shown that software cannot adequately achieve proper fingerprint detection discernment between a fake fingerprint and a live fingerprint.

“Our card is in our opinion the most advanced biometric credit card to be made. It is also protected by issued patents in the USA that will allow us to file injunctions against copycats who want to copy what we have spent years in developing,” said Chaya Hendrick.

Patents have also been filed in accordance with the Hague convention internationally.

According to figures released by the credit card standards body EMVco more than 11 billion EMV Chip cards have now been issued by financial institutions around the world. The SmartMetric biometric technology works with these EMV chips and existing chip card readers and ATMs.

ABOUT THE SMARTMETRIC BIOMETRIC CARD: Keeping your biometric identity safe is at the center of the design of the SmartMetric biometric card. At no time does a card holder's fingerprint leave the card. A person’s fingerprint is stored inside the card and matching of the person's fingerprint is done on the card itself. This was a central design requirement of the SmartMetric biometric card solution that necessitated SmartMetric to create a self-powered inside the card, fully functional fingerprint scanner. Also, so that the card could be used at ATMs and POS (Point Of Sale) card readers the SmartMetric development team created an on card miniature power management system that recharges the card as it is being used in card readers.

To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card

To view the company website: www.smartmetric.com

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Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.