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SmartMetric Announces New Biometric Credit Card Designed To Make Online Transactions Safer Using Fingerprint In-Card Authentication
SmartMetric Announces New Biometric Credit Card Designed To Make Online Transactions Safer Using Fingerprint In-Card Authentication.
About this update from Smartmetric, Inc.
[{"type":"text","content":"\nNEW YORK, July 16, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) – After many months of secret product development, SmartMetric has now under manufacture it’s new Biometric Credit Card designed to fight the burgeoning threat of online fraud.  Without revealing the specifics of the new biometric credit card that is expected to be unveiled in the next few weeks, SmartMetric says it has developed a new way to protect online transactions building on the company’s advanced, “inside-the-card” miniature fingerprint scanner.\n Online card fraud or as it is called in the credit card industry, CNP (Card Not Present) fraud is experiencing double digit growth.  Data from research company, Juniper Research has found that retailers stand to lose $71 billion globally from fraudulent CNP (Card-Not-Present) transactions over the next 5 years. * “The SmartMetric solution to fight online CNP card fraud uses the power of its biometric technology platform in a simple and effective solution that doesn’t require changes to existing processing methods or payments infrastructure.  Further our biometric card solution can be used just effectively with debit cards as well as credit cards,\" said SmartMetric’s President & CEO Chaya Hendrick. According to industry published figures, there are now 7.186 billion chip cards issued by banks globally.   This figure is based on reported figures for 2017.  Figures reported in Q4 of 2017 and represent the latest statistics from American Express, Discover, JCB, Mastercard, Union Pay, and Visa, as reported by their member institutions globally. * The SmartMetric biometric credit/debit card is designed specifically for use with Chip Cards.  Inside the SmartMetric biometric card is a fully functional fingerprint scanner that uses the card holders pre-stored fingerprint inside the card to match and then activate the card based on the cardholder’s fingerprint biometrics. Safer and more secure than a pin number, the cardholders fingerprint is used to activate their enhanced secure credit card, adding increased protection from credit and debit card thieves.   Using the power of biometric technology that is built into the credit/debit card, a card users fingerprint is used to unlock the card as it is insert...