|By Marketwired .||
|August 25, 2014 11:23 AM EDT||
NEW YORK, NY -- (Marketwired) -- 08/25/14 -- SmartMetric, Inc. (OTCQB: SMME) SmartMetric says that the introduction of EMV Chip card technology into the United States will not end card fraud and that a better solution such as its fingerprint activated card using the power of biometrics is a far more advanced solution. According to company President & CEO Chaya Hendrick, tying a cards use to a person's fingerprint stored inside the card that is in turn used to verify the card user before activating the card is a giant leap in the protection against card and identity fraud.
Card fraud is still a major problem even in countries that have used EMV chip cards for a number of years. For instance in the United Kingdom that has used EMV chip card technology for the past ten years more than $2.6 million worth of card fraud occurs on plastic cards every day. "A fraudulent transaction takes place every eight seconds" - UK CARDS ASSOCIATION. And new devices such as mobile phones used as card replacements aren't the answer since the adoption by consumers of their phones as a payments alternative is very low, relegating non card based payment alternatives to the category of fringe technologies.
The SmartMetric Biometric solution works with standard EMV Chip Card Bank and merchant terminals and is completely interoperable with existing payment system architecture thereby allowing for easy adoption.
SmartMetric is a publicly traded technology company that has added a fingerprint scanner built inside EMV payment credit and debit chip cards thereby creating a second layer biometric authentication protection in defending against card fraud. The company is now actively marketing its technology to card issuing financial institutions around the World.
About SmartMetric, Inc.
SmartMetric, Inc. is a technology company that designs and engineers its own advanced products utilizing the company's expertise in miniaturizing electronics. The company has developed a miniature fingerprint self powered fingerprint scanner and reader that fits inside credit and identity cards that are at the center of SmartMetric Inc.'s advanced biometric products. For more information please visit 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.
Email: [email protected]
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