|By Marketwired .||
|May 12, 2014 11:14 AM EDT||
NEW YORK, NY -- (Marketwired) -- 05/12/14 -- SmartMetric, Inc. (OTCQB: SMME), a developer of in-card biometric identity solutions, has developed an in-card fingerprint reader that scans a credit, debit or ATM card holders fingerprint that then turns ON the payment cards EMV chip prior to entering pin numbers at a retail checkout or ATM.
The introduction of a biometric fingerprint scanner inside an EMV chip card and using the person's unique fingerprint to activate the payments card affords an unparalleled level of security. Even if a person's PIN number has been hacked the card will not function without first off all the users fingerprint being matched with their fingerprint stored inside the card. And in order to protect the card users privacy their fingerprint is stored inside the card and NOT on a remote server. The users fingerprint never leaves the card.
SmartMetric has designed its biometric solution using the new EMV chip card standard and the card is fully interoperative with existing EMV chip card readers at retail checkouts and ATMs. According to EMV co., there are in excess of 1.6 billion EMV chip cards in use by Banks around the world. Both Visa and MasterCard have initiated a roadmap for deployment of EMV cards in the United States with many millions of these chip cards already issued in the USA. The recent Target card holder information breach has speed up the adoption of EMV in the United States with the changeover of card readers and ATM's throughout the country well underway.
SmartMetric is moving forward with contract production partners for high volume manufacturing capacity while at the same time focusing its sales and marketing effort on existing EMV chip card issuing Banks around the world. Using contract manufacturing relationships will allow the company to upscale high volume production while conserving substantial capital outlays saving both time to market and capital expenditure according to the company President & CEO, Chaya Hendrick.
SmartMetric, Inc. (OTCQB: SMME) is the owner of a United States Patent & Trademark Office issued patent covering the use of smartcards (EMV cards are smart cards) that connect to networks. The company develops biometric smart cards including EMV and access control cards used for payments, security and identification. For information on SmartMetric and its technology, please go to www.smartmetric.com.
Safe Harbor Statement
Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. 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. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.
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