NEW YORK, NY — (Marketwired) — 07/23/13 — SmartMetric, Inc. (OTCQB: SMME) — Speaking this morning from New York, SmartMetric Inc. President & CEO said today-s credit and ATM Cards represent one of the weakest, in respect of security, platforms imagined. With multimillions spent in attempting to secure the little piece of plastic in your wallet, the Banks are losing the war to the never ceasing onslaught of cyber and techno thieves. It is estimated that in excess of $4 billion per year is lost by the Card companies in the USA alone. To fight against these multibillion losses each year, the card companies have added a chip to Credit and ATM cards often referred to as EMV Chips. While these chips have had a significant and substantial impact on card fraud they have not eliminated it. Even as the card companies role out their EMV/chip cards in the USA they still rely on the weak PIN and as a result even the EMV/Chip cards are still vulnerable to fraud. Having spent over a decade in product R&D, SmartMetric has been able to reduce the size of a fingerprint scanner to an unbelievable smaller-than-a-credit-card size. The SmartMetric miniature fingerprint scanner that fits inside a credit card is the smallest in the World and coupled with SmartMetric-s specialized card production process the company is able to replace the ever vulnerable PIN with a person-s Fingerprint for identity verification and card activation. Billions of dollars in fraud losses a year are at stake and are able to be seriously mitigated by both the SmartMetric biometric reader in the card, along with in the United States, the SmartMetric Patented Chip Card technology that credit card companies are now issuing throughout the USA. And for the added protection of the consumer the SmartMetric fingerprint card stores the persons fingerprint inside the card so the fingerprint never needs to leave the card. Safe, encrypted and secure inside your card and never on a central database.
More than 1.5 billion standard EMV/Chip cards have been issued around the world to date. SmartMetric biometric in card technology brings the next leap forward in securing these electronic credit and ATM cards.
SmartMetric Inc. is suing Visa and MasterCard for patent infringement of its “464” USPTO issued patent. The company is claiming a combined pre paid royalty and damages of $13.4 billion from both Visa and MasterCard.
SmartMetric Inc. plans on releasing its biometric in card product in the last quarter of 2013.
For information on SmartMetric and its technology please go to .
SmartMetric, Inc. has developed a portable biometric identity and transaction card capable of storing a wide variety of personal information while protecting you against identity theft and fraud. It is one of the most advanced portable identity authentication solutions in the world today. The card contains a biometric fingerprint scanner and reader which only you can unlock and is smaller and thinner than a credit card. The SmartMetric card is ideal for a wide range of consumers, including Personal, Government and Corporate. For more information please visit us at .
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.
MedicalKeyring is a trademark of SmartMetric, Inc.
Investor Relations:
Jens Dalsgard
ConstellationAA.com
415.524.8500
SmartMetric, Inc.
Ms. Chaya C. Hendrick
President & CEO
Office: 786.294.6000
Direct: 786.269.2238
You must be logged in to post a comment Login