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SmartMetric Says That $6.4 Billion in Fraud Losses on Existing Credit and Debit Cards Has Been Reported Last Year in the USA
SmartMetric Says That $6.4 Billion in Fraud Losses on Existing Credit and Debit Cards Has Been Reported Last Year in the USA.
About this update from Smartmetric, Inc.
[{"type":"text","content":"\nSmartMetric, Inc. (OTCQB: SMME) – Following the widespread adoption and use by consumers of EMV chip cards in the U.S. that are difficult to counterfeit, fraud losses on existing credit and debit cards was still significant, amounting to $6.4 billion in losses in 2018.\n\n\nThe 16th annual identity-fraud study by Javelin Strategy & Research estimates that payment-related fraud affected 14.4 million consumers in 2018. “This high level of payment fraud affecting millions of consumers annually is why so many consumers are willing to pay for a safer credit card protected by biometric technology,\" said SmartMetric’s President & CEO, Chaya Hendrick.\n\n\nAccording to independent research contracted by SmartMetric, more than 65% of credit card users in the United States would be willing to pay for a credit card with built inside the card biometrics. The research survey question asked was, Would you pay for a safer biometric secured credit card that has a built in fingerprint reader for your protection? 65.5% of respondents said they would.\n\n\n“Deeper analysis of the motivation of consumers to pay for a safer credit card is not what one would immediately think of,\" said Chaya Hendrick. \"One of the largest issues for the consumer is the sense of violation and resulting insecurity felt after falling victim of even a low dollar amount credit card fraud.”\n\n\nThe SmartMetric biometric card has built inside of it a powerful fingerprint scanner that scans a person’s fingerprint when the fingerprint sensor is touched on the cards surface. The fingerprint scan is done in less than 0.25 seconds. This provides a biometric scan, match and card activation in less time than it takes the card holder to reach across to insert their card in a store card reader or ATM.\n\n\nWhen the SmartMetric biometric credit or debit card is inserted into a retail reader or ATM, and after the card has completed the fingerprint scan which has been powered by the card's internal battery, the card's internal battery is rapidly recharged while in the card reader and performing the credit or debit card transaction.\n\n\nFollow this link to view the SmartMetric biometric credit card: Using the SmartMetric Card at an ATM Storing your fingerprint on your card SmartMetric Biometric Portable Medical Records Card To view the c...