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SmartMetric Reveals That 60% of Existing Credit Card Holders Are Willing to Pay Sixty Nine ($69) Dollars for a Biometric Protected Credit Card
SmartMetric Reveals That 60% of Existing Credit Card Holders Are Willing to Pay Sixty Nine ($69) Dollars for a Biometric Protected Credit Card.
About this update from Smartmetric, Inc.
[{"type":"text","content":"\nSmartMetric, Inc. (OTCQB: SMME): The estimated size of the market for biometric credit and debit cards is significant. According to EMVCo who is a credit card standards body responsible for the licensing and rules governing EMV chips used on today’s credit and debit cards, more than 11 billion 1 EMV chip cards have been issued by banks globally.\n\nSmartMetric contracted an independent consumer market research company to ascertain the potential consumer demand for a credit card with incorporated fingerprint biometrics. The survey was conducted in the USA of credit card users.\n\nThe questions and results of the consumer research survey are as follows.\n\n1: Are you concerned about credit card or identity fraud? Answered Yes: 80.1%\n\n2: Would you pay for a safer biometric secured credit card that has a built-in fingerprint reader for your protection? Answered Yes: 65.5%\n\nGiven these research results and given the number of credit cards issued by banks around the world, it is a massively large potential market that SmartMetric has developed its product for.\n\nThe more than 10 billion chip-based credit and debit cards issued throughout the world have been issued by banks in order to provide increased card security. By now adding fingerprint biometric sensing technology used to activate the cards contact and contactless chip, it takes security for credit cards to the next level.\n\nImportant for SmartMetric and card issuing banks is that the consumer research is showing that bank customers are willing to pay for biometric credit card. This is based on the consumers desire to have a safer technology that aids in protecting against card fraud. For banks card customers the concern of card fraud goes well beyond the financial loss they may or may not experience.\n\nCard customers find the whole experience of having their financial safety violated unpleasant. It is a logical as well as an emotional reaction by consumers. The sense of violation along with the general concern for their financial safety is the main driving force as to why the research is showing so many existing card customers are willing to pay for a biometric card.\n\nFor card issuing banks they also are advantaged by the increased security offered by biometric credit and debit cards while at the same time being able to turn their cards into a revenue generati...