NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTC: SMME) the miniature nano fingerprint scanner built by SmartMetric to fit inside a standard credit and debit card takes credit card security to the next level.
Before using your pin or any other clumsy old credit and debit card security, cards with the SmartMetric nano fingerprint scanner inside provide a powerful first step in securing the card prior to it being used. The card holders’ fingerprint is matched with their fingerprint that is scanned by the nano internal scanner each time the card holder goes to use their card.
A small square fingerprint sensor sits on the surface of the card that is connected to a circuit board inside the card. On this circuit board are extremely small and very low-profile electronic components that allow the users fingerprint to be scanned and matched in less then a second. On a fingerprint match the cards contact chip and contactless RFID is unlocked allowing the card to then operate at any standard card reader and ATM.
Enrolling a fingerprint on the card for the first time is as simple as enrolling your fingerprint on a mobile phone. Touch the sensor up to four (4) times and your fingerprint is then forever embedded inside the cards encrypted memory. The memory for storing the fingerprint is firewalled and uses extremely strong encryption.
“We had to build a super thin and small device that fits inside a standard credit card having amongst a number of components, a MCU, Power Management System, Internal Memory along with other components. Not to mention a super thin rechargeable hybrid nano battery,” said SmartMetric’s President and CEO, Chaya Hendrick.
Well over a decade of research and development has gone into creating the new GEN4 SmartMetric biometric card according to SmartMetric.
The new GEN4 card is now in mass production. A small sample run of the assembled card was completed to test the cards latest operating system developed by SmartMetric. The software testing and the cards functioning has been successfully completed.
“We are excited about the future prospects for our 'patent protected' product after spending so many years of research and development,” said Chaya Hendrick.
Patents for the technology have been issued recently in the United States while other patents covering other parts of the world have been filed.
“These recently issued patents disallow others from making biometric credit cards that have a fingerprint sensor on the card according to SmartMetric.”
“A massive market for an incredible next generation credit card,” said SmartMetric’s President and CEO, Chaya Hendrick.
Over 300 million credit cards have been issued in the United States. Consumer research reveals that up to 70% of existing credit card holders are willing to pay for a biometric secured credit card.
“The SmartMetric biometric credit card has taken years to develop and its Gen4 product designed for credit card issuing banks, is now in production said SmartMetric.”
The SmartMetric biometric fingerprint activated credit card brings the power of biometric security to the regular credit and debit card. Using the cardholder's own fingerprint only the cardholder is able to use the card. Touching the cards sensor on the cards surface awakens the card to scan the user’s fingerprint in less than a second. The fingerprint is matched with the users pre-stored fingerprint that has been registered inside the cards internal cryptographically secured memory.
“Research has shown that up to 70% of existing credit card users are attracted to using a biometric credit card. However, for this to be achieved the card itself must be as easy and simple to use as a current credit card and must most definitely be able to be biometric secured and safe in all card reading situations,” said Chaya Hendrick.
SmartMetric is now in mass market production of its GEN4 advanced biometric credit card. The company is preparing to release its advanced biometric credit card to the global credit card issuing community.
The SmartMetric GEN4 Biometric Fingerprint Card has been developed to meet the specific demand of the credit card industry and credit card users for enhanced credit card security. The card has an in-the-card nano fingerprint scanner that is used to recognize the card holders fingerprint and in turn activate the card.
The SmartMetric biometric credit card is the only advanced biometric payments card product with an internal rechargeable battery that allows the card to be used in all card usage cases such as restaurants and ATM’s. Having its own power inside the card allows the SmartMetric biometric card to work prior to the card being inserted into a card reader.
The SmartMetric biometric fingerprint recognition technology built inside of the credit and debit card uses embedded biometric technology to positively recognize the card holder and then only after a positive fingerprint recognition, turn on the cards EMV contact and contactless payments chip.
According to an article published by Finder.com1 the number of credit card accounts open in the United States is 564,500,000. This is an all-time high for the United States.
The average American owns three credit cards. 83% of Americans own at least one credit card. 14% of Americans own at least 10 credit cards.
SmartMetric plans to sell its advanced biometric credit card to card issuing Banks for $50.00 a card. In turn Banks will decide whether or not to provide the card for free to its card users or offer it as a premium card to its top tier card users for a fee.
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