NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB: SMME), in comparing the SmartMetric Biometric credit card in relation to other biometric card manufacturers it is clear according to SmartMetric that it is the leader in providing the best “all reader” biometric credit card solution.
The SmartMetric Biometric Credit Card differs in a substantive way from other cards that have appeared on the market over the past couple of years. Based on published reports from within the credit card industry the SmartMetric Biometric Card is the only one that works at ATMs as well as situations where the card is taken from the card holder for a payment such as in a restaurant.
“Other companies that are attempting to compete with the SmartMetric Biometric Card have a serious flaw in that they rely on being powered by the card reader for the fingerprint scanning function leaving the card un-workable at most ATMs that swallow whole cards as well as restaurants where the card is taken from the customer to the checkout,” said SmartMetric’s President & CEO, Chaya Hendrick.
SmartMetric and its engineering team have spent over 18 years in Research and Development of its Biometric Card -- years before other companies even recognized that a market existed for such a technology.
“Based on the years of engineering that has gone into the SmartMetric card it is little wonder that we have a solution that is substantially more advanced than what the more recent entrants have developed,” said Chaya Hendrick.
The SmartMetric Biometric Card is powered by an internal battery that allows the card to perform a fingerprint scan independent of the card reader. This allows the SmartMetric Biometric Card to perform a fingerprint scan, user validation and card activation prior to the card being inserted into a card reader. Using a powerful Cortex processor, this scan, validation and activation is done on the SmartMetric Biometric Card in less than a quarter of a second. Because the SmartMetric Biometric Card operates independently from the card reader it works perfectly in all types of ATMs and especially important, in all types of retail situations such as restaurants.
SmartMetric realized early on in its product development that for a biometric card to work in the real world it would need to work across all user situations. According to SmartMetric this is why the company spent, in fact, many years perfecting its card's internal power system so that the card would work across all card reading devices.
Based on a report published by biometricupdate.com on January 15th, 2018 other companies have launched pilots. Biometric technology supplied by Gemalto, a French-headquartered company, is used in the Bank of Cyprus pilot, while the Mountain America Credit Union pilot utilizes technology provided by Kona-I based in South Korea. The report goes on to say Zwipe, which is based in Norway, announced earlier this month that it would collaborate with Gemalto to provide its energy harvesting capacity and biometric engine for the Bank of Cyprus pilot.
The report published last year details companies attempting to enter the Biometric Card industry that all have cards that either need to be held by the card user while the card is inserted into a reader or are attempting to use the as yet unproven energy harvesting concept where the card theoretically draws enough power from the power emitted from contactless card readers. Even this “energy harvesting” concept even if it was able to work across all contactless card readers, doesn’t allow the card to be used in ATMs said Chaya Hendrick. To date, the energy harvesting concept to power biometric fingerprint cards has not been proven as stable enough technology for mass card adoption.
SmartMetric is a USA based company that has many years of product development behind its industry leading Biometric Card product according to the company. Its card works in all readers at all times in all situations; the very thing that SmartMetric viewed as being paramount in the successful adoption of biometric credit cards by Bank card issuers.
SmartMetric is now actively working with RedSys ADVANTIS in introducing the SmartMetric advanced biometric credit/debit card to the more than five hundred banking organizations around the world who are using the ADVANTIS card chip and operating system in their credit/debit cards. ADVANTIS chips with the ADVANTIS payments operating system is now on more than 1.4 billion issued credit/debit cards globally.
The SmartMetric biometric card solution for Banks provides a huge leap forward in credit card security moving security away from PINs and signatures to the vastly stronger biometric validation technology inside the card.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card To view the company website: www.smartmetric.com.
Gemalto, Kon-I and Zwipe are company names that are owned by their respective corporations and are mentioned in this release solely for information purposes.
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.
