$SMME SmartMetric, the Maker of Biometric Activated and Secured Credit / Debit Cards, Says That 36% of Card Users Have Cancelled One of Their Cards Due to Security Concerns
Press Release | 01/06/2020
SmartMetric, Inc. (OTCQB: SMME) -- According to a recent survey, 36 percent of credit and debit card users said they have cancelled a debit/credit card or closed their accounts entirely due to security concerns.
In order to fight card fraud, card issuers and payments networks must draw a fine line between using restrictive security algorithms and permitting the use of their cards at the point of sale. Being too aggressive with automatic machine-based acceptance and decline computer based decision making has lead to a significant loss of business on the part of both merchants and card issuers and their payments networks.
51 percent of consumers say they have had a transaction declined because their banks mistakenly suspected fraudulent activity. That is a lot of potential business being affected by machine-based security algorithms and not to mention the embarrassment from a transaction being declined being seriously detrimental to the customer and card issuing bank relationship.
A better way of identifying the card user is the legitimate user of the card has been created by SmartMetric. Using a very small nano fingerprint scanner that sits inside the credit/debit card, the card holder's own fingerprint biometrics is used to unlock the card prior to its use in a card reader or ATM.
“Totally frictionless, as the card user touches the sensor on the card's surface in less time than it takes to reach across to insert the card into the card reader or ATM, the card has scanned and matched the user's fingerprint and activated the card with a 100% validation of the card user prior to the card being used,” said today SmartMetric’s President & CEO, Chaya Hendrick.
SmartMetric has produced a credit and debit card that 100% verifies the identity of the card user. Simply, the card will not work unless and until the card's internal nano fingerprint scanner has scanned the cardholder’s fingerprint and uses a 100% fingerprint match to turn on the card.
SmartMetric is a USA-based company with sales and marketing partnerships in Latin America, Europe and the United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com.
Source data: https://www.featurespace.com/newsroom/
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005852/en/
Press Release | 01/06/2020
SmartMetric, Inc. (OTCQB: SMME) -- According to a recent survey, 36 percent of credit and debit card users said they have cancelled a debit/credit card or closed their accounts entirely due to security concerns.
In order to fight card fraud, card issuers and payments networks must draw a fine line between using restrictive security algorithms and permitting the use of their cards at the point of sale. Being too aggressive with automatic machine-based acceptance and decline computer based decision making has lead to a significant loss of business on the part of both merchants and card issuers and their payments networks.
51 percent of consumers say they have had a transaction declined because their banks mistakenly suspected fraudulent activity. That is a lot of potential business being affected by machine-based security algorithms and not to mention the embarrassment from a transaction being declined being seriously detrimental to the customer and card issuing bank relationship.
A better way of identifying the card user is the legitimate user of the card has been created by SmartMetric. Using a very small nano fingerprint scanner that sits inside the credit/debit card, the card holder's own fingerprint biometrics is used to unlock the card prior to its use in a card reader or ATM.
“Totally frictionless, as the card user touches the sensor on the card's surface in less time than it takes to reach across to insert the card into the card reader or ATM, the card has scanned and matched the user's fingerprint and activated the card with a 100% validation of the card user prior to the card being used,” said today SmartMetric’s President & CEO, Chaya Hendrick.
SmartMetric has produced a credit and debit card that 100% verifies the identity of the card user. Simply, the card will not work unless and until the card's internal nano fingerprint scanner has scanned the cardholder’s fingerprint and uses a 100% fingerprint match to turn on the card.
SmartMetric is a USA-based company with sales and marketing partnerships in Latin America, Europe and the United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com.
Source data: https://www.featurespace.com/newsroom/
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005852/en/
