SmartMetric Announces It Has Commenced Production After Supply Chain Issues Have Now Been Resolved
Press Release | 03/09/2020
SmartMetric, Inc. (OTCQB: SMME) reports that final manufacturing of its Biometric Credit/Debit card has now commenced after being delayed due to supply line issues.
After engineering changes, the company found that it was unable to complete manufacturing due to the effect on its supply chain from the Covid-19 outbreak. We are pleased to advise that all issues have been resolved and that final manufacturing with our upgrades for both contact and contactless biometric cards has now commenced.
We are very thankful to our component suppliers who have worked diligently to overcome what has been a very difficult time. Based on information directly from our suppliers we are not expecting any further delays as we move forward.
“It is expected that within the next 30 days our biometric credit/card will be in the hands of our partners who will be able to present our product to card issuing banks around the world," said today SmartMetric’s President and CEO, Chaya Hendrick.
The SmartMetric biometric card is self-powered. That means that the card does not have to be inserted into a card reader for it to work. This feature allows the SmartMetric card to be used at all card payment situations including restaurants that take the card to the checkout to process the payment. The SmartMetric biometric credit/debit card will also work at ATM’s including those that “swallow” the card during the ATM transaction.
In order for the credit card user to use the new biometric card all they need do is simply register their fingerprint by touching the card's fingerprint sensor on the card's surface. Much like one would register a fingerprint on a mobile phone. Once registered the user’s fingerprint is stored permanently inside the card’s internal memory. Now only the registered card user is able to activate the card to make a transaction.
For the user the card is seamless and frictionless. All they need do is touch the sensor on the front of the card and in less than 0.25 seconds and in less time than it takes to reach across to the card reader or ATM, the person's fingerprint is scanned and matched with the user’s fingerprint stored inside the card. From now the card's EMV chip and wireless transmission will only work with a 100% match with the user’s biometrics.
Simple to use and very safe. Because the card holder's fingerprint never leaves the card, the SmartMetric biometric card protects the user's biometrics while using the power of biometrics to provide the ultimate in credit card and debit card security.
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
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/20200309005688/en/
Press Release | 03/09/2020
SmartMetric, Inc. (OTCQB: SMME) reports that final manufacturing of its Biometric Credit/Debit card has now commenced after being delayed due to supply line issues.
After engineering changes, the company found that it was unable to complete manufacturing due to the effect on its supply chain from the Covid-19 outbreak. We are pleased to advise that all issues have been resolved and that final manufacturing with our upgrades for both contact and contactless biometric cards has now commenced.
We are very thankful to our component suppliers who have worked diligently to overcome what has been a very difficult time. Based on information directly from our suppliers we are not expecting any further delays as we move forward.
“It is expected that within the next 30 days our biometric credit/card will be in the hands of our partners who will be able to present our product to card issuing banks around the world," said today SmartMetric’s President and CEO, Chaya Hendrick.
The SmartMetric biometric card is self-powered. That means that the card does not have to be inserted into a card reader for it to work. This feature allows the SmartMetric card to be used at all card payment situations including restaurants that take the card to the checkout to process the payment. The SmartMetric biometric credit/debit card will also work at ATM’s including those that “swallow” the card during the ATM transaction.
In order for the credit card user to use the new biometric card all they need do is simply register their fingerprint by touching the card's fingerprint sensor on the card's surface. Much like one would register a fingerprint on a mobile phone. Once registered the user’s fingerprint is stored permanently inside the card’s internal memory. Now only the registered card user is able to activate the card to make a transaction.
For the user the card is seamless and frictionless. All they need do is touch the sensor on the front of the card and in less than 0.25 seconds and in less time than it takes to reach across to the card reader or ATM, the person's fingerprint is scanned and matched with the user’s fingerprint stored inside the card. From now the card's EMV chip and wireless transmission will only work with a 100% match with the user’s biometrics.
Simple to use and very safe. Because the card holder's fingerprint never leaves the card, the SmartMetric biometric card protects the user's biometrics while using the power of biometrics to provide the ultimate in credit card and debit card security.
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
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/20200309005688/en/
1
