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SmartMetric Uses Biometric Technology Inside Your Credit Card To Fight The $24.71 Billion In Global Card Fraud Losses
SmartMetric Uses Biometric Technology Inside Your Credit Card To Fight The $24.71 Billion In Global Card Fraud Losses.
About this update from Smartmetric, Inc.
[{"type":"text","content":"\nNEW YORK, June 05, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) – Payment card fraud globally has climbed to $24.71 Billion in losses*.  What is alarming for USA credit card issuers is that the United States has 47% of worldwide card fraud losses.\n The latest Nilson Report estimates that in 2016, worldwide credit card losses topped $24.71 billion.Barclays reports that 47 percent of all credit card fraud occurs in the United States.Fifty-six percent of Mexico residents reported being a victim in 2016.Only 8 percent of Hungarians reported being victims in the past 5 years. In general, European countries have the lowest fraud rates due to the early adoption of EMV (chip) cards.Javelin Strategy reports that there is an identity theft incident every 2 seconds, many involving credit card fraud.ACI Worldwide estimates that 47 percent of Americans have been a victim of credit card fraud in the past 5 years. SmartMetric has created a powerful biometric fingerprint reader that sits inside a bank’s credit or debit card.  Using the cardholders fingerprint to unlock and activate the card as the card user touches the cards surface.  In less than a second the card user’s fingerprint is scanned and then matched with their fingerprint stored inside the card.  Of course, if the person trying to use the card is not the card holder the card will not work. “One of the functional features of our card is that it is powered by an internal rechargeable battery.  This means the SmartMetric biometric card in-card scanner can be used independently of and prior to the card being inserted into a card reader or ATM said today, SmartMetric’s President & CEO, Chaya Hendrick.” SmartMetric has created both contact chip as well as contactless chip versions of it’s biometric credit and debit card.  Contact and Contactless functions of the card are disabled and are only activated following a card users successful fingerprint match.  The fingerprint scan, match and card activation takes less than a second.  The powerful miniature fingerprint reader inside the card is powered by a rechargeable battery that is constantly recharged every time the card is inserted into a credit/debit card reader or ATM. The SmartMetric biometric credit card works with the global standard c...