Significant Adoption of the SmartMetric Biometric Fingerprint Activated Credit Card Forecasted by Research Company Saying 579 Million Credit/Debit Cards Will Be Using Biometric Technology Over the Next Four Years
SmartMetric, Inc. (OTCQB: SMME), the developer and manufacturer of biometric credit cards, welcomes the statement by Goode Intelligence in a recent release that it identifies that across all payments channels, old or new, from ATMs, smartphones, biometric payment cards, connected cars, smart home devices and the latest wearable devices, biometrics is becoming the only solution to improve customer experience and to reduce payment fraud.
“The rise of biometrics in the credit and debit card industry is happening at the same time that we have advanced the in-the-card biometric technology to the point that our self-powered fingerprint scanner technology fits into a standard credit card industry conforming size, allowing us to be able to provide card issuing banks around the world with our state-of-the-art advanced biometric credit and debit card solution,” said today SmartMetric’s President and CEO, Chaya Hendrick.
Good Intelligence in a research report on Biometrics said “Biometrics payment cards not only offer improved security by removing the PIN but also allow frictionless payments for higher value transactions (for debit cards). Good Intelligence believes that there is a significant market opportunity for biometric payment cards and forecasts that by 2023 there will be almost 579 million biometric payment cards in use around the world.”
SmartMetric is moving forward with the offering of its biometric credit card solution to card issuing banks globally.
The SmartMetric biometric credit and debit card uses the cardholder’s fingerprint, which is read by a nano fingerprint scanner inside the card, to turn on the card prior to insertion into the card reader or ATM. The cardholder’s biometrics are protected since their fingerprint is stored inside their card and never leaves the card at any time. Only the authorized holder of the SmartMetric biometric credit and debit card can use the card.
“What we have created is a 'beyond the PIN' security that uses powerful biometric technology to bring the next level of security to the credit card industry,” said Chaya Hendrick, President and CEO of SmartMetric.
Further information on the SmartMetric biometric credit card is available on the company website at www.smartmetric.com.
A video of the SmartMetric biometric card can be found at https://youtu.be/zSX59uHoHqU
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