Fourth-Generation Biometric Protected, AI Enhanced Credit Cards to Be Shipped and Available for Presentation to Networks and Banks Shortly : SMME
SmartMetric, Inc (OTCMKTS:SMME)
— SMME CEO Chaya Hendrick
LAS VEGAS, NEVADA, UNITED STATES, October 26, 2023 /EINPresswire.com/ — Fourth-Generation Biometric Protected, AI Enhanced Credit Cards to Be Shipped and Available for Presentation to Networks and Banks Shortly; SmartMetric, Inc. (Stock Symbol: SMME)
Biometric Fingerprint Scanning for Credit and Debit Card Fraud Protection.
Technological Leader in the Biometric Fingerprint Activated Credit Card Industry.
Design Patents to Block Any Other Biometric Fingerprint-activated Cards in the United States.
The Only Biometric Credit Card That Can Be Used in ALL Card Readers.
Working with One of the World’s Largest Credit Card Network Brands.
Latest Card Version Achieved 1/3 Battery Size Reduction.
Fourth-Generation Card to Be Shipped and Available for Presentation to Card Networks and Banks in the Near Term.
Biometric Credit and Debit Card with Inbuilt Fingerprint Recognition Secure Activation to Release Both Plastic and Metal Versions.
Nearing the Point of Commercial Release for Advanced Biometric Card Product.
Received Export Approval Following Testing and Authorization of Hybrid Solid State Rechargeable Battery Used in Biometric Fingerprint Credit Card.
In Device Embedded AI With Intermittent Remote AI Interfacing Will Bring a Massive Leap in Data Security.
Engineers Working to Incorporate Artificial Intelligence (AI) into New Versions.
Visa2 and MasterCard2 have Adopted the Use of Biometric Credit Cards.
Thermal Sensing Technology Added to Counter Fake Fingerprint Threat.
SmartMetric (OTC: SMME) is the creator of an advanced Biometric payment card technology that addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo 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.
After the cardholder’s fingerprint is stored inside the SMME card, all the user needs to do is touch the fingerprint sensor on the surface. In less time than it takes to reach across to insert the card into a credit or debit card reader, the card has scanned the user’s fingerprint and matched it with the pre-stored fingerprint inside the card. On a successful match, the card is turned on so that it can perform a card transaction.
The ease of use of the SMME biometric card, along with the fact that it is powered by the SMME internal green battery prior to the card being inserted into a reader to power the internal processor doing the fingerprint scan, means the SMME card is the only card that can work across all card reader types and situations. Biometric cards that do not have an internal independent power supply are very limited in where such cards can be used. A big advantage for both credit card users, as well as banks in fighting card fraud, is the fact that the SMME biometric card can not be activated if someone else is trying to use the card.
The SMME biometric card addresses the multibillion existing chip-based credit and debit card market. Figures published by EMVCo reveal that by the end of 2020, 10.8 billion EMV chip cards had 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.
Fourth-Generation Cards to Be Shipped and Available for Presentation to Card Networks and Banks
On October 25th SMME announced that its fourth-generation card is nearing completion which will allow the company to start its sales and marketing in the United States. Having developed earlier versions of its fingerprint-activated biometric credit card, SMME had to make changes based on requests from within the credit card industry along with component changes that came about from the supply issues during the pandemic.
“Our main engineering team is based in Tel Aviv, Israel, and we chose not to have our operating system and key functional software for our card transferred to the electronics assembler in China but rather retain control and security over our software by having it kept in the hands of our Israel-based engineering team. The current situation in Israel has been very difficult for our engineers who some have been called up while others having to deal with family members who have been called up and sent away from their homes. This has caused a disruption to our final process of installing our system software into our product. Nonetheless under extreme circumstances we are moving forward and expect to have our most advanced biometric credit card completed for presentation to the credit card issuing industry in short order,” said the President and CEO of SMME.
SmartMetric Biometric Credit and Debit Card with Inbuilt Fingerprint Recognition Secure Activation to Release Both Plastic and Metal Versions
On October 16th SMME announced it is nearly ready to ship its advanced fingerprint-activated credit and debit cards to the credit card industry.
The SMME metal biometric card is the only one of its kind in the world that has embedded inside the metal the fingerprint scanner electronics at an extraordinary level of miniaturization and component slim height.
Creating a metal biometric credit card best fits the needs of the premium credit card market making it an attractive product for the high-end credit card consumer who has become used to thinking of metal credit cards as a premium card product they are happy to have in their wallets.
“As with all new technology products, SmartMetric believes that the top end of the market will be the first large scale adopters and therefor having our biometric card in metal makes sense for addressing this market,” said SMME CEO Chaya Hendrick.
SmartMetric Fingerprint Activated Biometric Card Nears Shipping
On October 5th SMME announced that it is soon to ship its completed advanced biometric fingerprint-activated credit card. This is after extreme delays brought on by Covid-related component delays.
“We are excited to be nearing the release finally of our advanced premium biometric fingerprint activated credit card after years of development and overcoming extreme component supply difficulties,” said SMME President and CEO, Chaya Hendrick.
Export Approval Following Testing & Authorization of Hybrid Solid State Rechargeable Battery Used in Biometric Fingerprint Activated Credit Card
On September 21st SMME announced that having spent months with regulators which involved extensive battery testing for airfreight clearance, the company has received clearance to now ship its biometric card with its inbuilt rechargeable hybrid battery. “We are very excited to have now overcome this last remaining hurdle to bring our advanced biometric fingerprint activated card to market,” said SMME President and CEO, Chaya Hendrick.
When SMME first started building its prototype biometric credit card over a decade ago, the overall thickness of the electronics was four times the thickness of a standard credit card. SMME says that the overall thickness and profile of its electronics including the board and its internal battery is now less than one-third the thickness of a standard credit card.
SMME Biometric Credit Card to Add Next-Generation Biometric Security to the Multi-Billion Unit Credit and Debit Card Market
On June 27th SMME announced that Visa, Mastercard, and other payment networks are reported to now have more than 6.7 billion credit cards issued worldwide. The following is the breakdown of cards in circulation per network brand. Visa 3.94B, Mastercard 2.58B, American Express 122M, JCB 144M, Diners Club 66M.1
EMVco, the international card standards organization governing EMV payment chips used in today’s credit and debit card reports more than 11 billion cards with EMV chips have been issued worldwide.
The SMME biometric fingerprint recognition technology built inside of the credit and debit card uses embedded biometric technology to positively recognize the cardholder and turn on the card’s EMV contact and contactless payments chip.
As of November 2022, with 3.94 billion credit cards in circulation, Visa has more cards in circulation than all the other major credit card brand networks combined.
SMME sees the adoption of biometric credit cards being driven primarily by card users. Apart from the majority of card users saying they would prefer to use a biometric credit card, the driving motive for consumers is the added security perceived when using biometric-secured cards. Banks and payment processors also benefit tremendously when biometric credit and debit cards are used as they can be configured to message the payment networks that a biometric card is being used that has positively identified the legitimate card user at the point of the card being used in a card transaction.
Adoption of Biometric Credit Cards by Both Visa and MasterCard
On June 22nd SMME that both Visa2 and MasterCard2 have adopted the use of biometric credit cards with advanced features over their respective payment networks.
As with any new disruptive technology, SMME sees that in the first instance, there will be a steady adoption take up and then we will see a dramatic S-curve adoption of biometric cards as banks and consumers alike are drawn to the advanced security of credit cards that have inbuilt biometrics.
SMME leads the world in biometric credit card technology in having developed a biometric credit card that has an internal rechargeable battery that is used to power the fingerprint scanning of the card user, independent of card reading terminals and ATMs. This allows the SMME biometric card to be used “anywhere and anytime” a cardholder wants to use their new biometric card.
Other less advanced cards have begun trials in Europe that are not self-powered. This is a huge disadvantage vs. the SMME card as a non-powered biometric card will not work at a lot of gas stations, ATMs, and restaurants that process the credit card charging away from the table.
The advanced SMME biometric card has many other features, not least its hardware-based detection of a live finger. This provides the SMME card with added security against fake fingerprint replicas, making the SMME biometric card the most secure card developed.
SMME Internally Powered Biometric Card Is the Most Advanced Biometric Card for the Credit Card Industry
On June 21st SMME announced that having spent years of R&D and investment of over $33 million, SmartMetric holds what is believed to be an unassailable technological lead in the new biometric fingerprint-activated credit card industry.
Leading credit card brands have now accepted the introduction of biometric credit cards. This heralds the use of biometric technology built into credit cards as the next generation advanced security evolution of the most used form of payment, the credit card.
SMME leads the world in biometric credit card technology by having developed a biometric credit card that has an internal rechargeable battery that is used to power the fingerprint scanning of the card user independent of card reading terminals and ATM’s. This allows the SMME biometric card to be able to be used “anywhere and anytime” a cardholder wants to use their new biometric card.
Other less advanced cards have begun trials in Europe that are not self-powered. This is a huge disadvantage over the SMME card as a non-powered biometric card will not work at a lot of gas stations, ATM’s, and restaurants that process the credit card charging away from the table. These non-powered cards require the card to be inside a contact reader and the cardholder needs to hold the card in the reader for contact credit card payments. Because they do not have an internal rechargeable power source, they depend on power from the card reader. Making them unusable in many credit card transaction situations.
The advanced SMME biometric card has many other features not least its hardware-based detection of a live finger. This provides the card with added security against fake fingerprint replicas making the SMME biometric card the most secure card developed.
Design Patents to Block Any Other Biometric Fingerprint Cards in the United States
On June 20th SMME reported that the company’s issued design patents cover various shapes of fingerprint sensors that can be placed on the surface of the card in any place that on the card that a sensor can be placed. Effectively stopping anyone else from having a smart card with a chip and sensor on it or a credit card with a chip and fingerprint sensor on it from being sold in the largest credit card market in the world which is the United States. These multiple United States Patent Office-issued design patents, essentially give SMME a product monopoly position in the US market for fingerprint-activated biometric credit cards.
“Unlike other types of patents, design patents are the easiest to enforce as they do not require years of Federal Court litigation to enforce. Basically, all we need to do is take the issued design patents to the pertinent Government department and have competitors copycat cards seized at port of entry or within the USA at any office or warehouse,” said Chaya Hendrick, SMME CEO.
SMME is in the final stages of QC testing of its biometric card hardware along with the biometric card internal software and embedded operating system. This is the final preparation of the SMME biometric card product prior to presenting it to one of the world’s largest credit card brands and card networks. It is planned that the card will be offered to various major card-issuing banks globally.
For more information on $SMME visit: https://www.smartmetric.com
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SmartMetric Biometric Card