Business
Up To 2.39% Of Retail Sales Are Lost To Fraud Says SmartMetric, The Manufacturer Of The Biometric Activated Credit Card
Up To 2.39% Of Retail Sales Are Lost To Fraud Says SmartMetric, The Manufacturer Of The Biometric Activated Credit Card.
About this update from Smartmetric, Inc.
[{"type":"text","content":"\n$22.80 Billion Reported In Global Credit Card Fraud Losses – United States Accounts For More Than 39% Of All Worldwide Credit Card Fraud Losses\n NEW YORK, May 24, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) – Credit card fraud is occurring across retail, e-commerce, financial services and lending sectors at an alarming rate. Every $1 of fraud costs organizations in these industries between $2.48 to $2.82 – that means that fraud costs them more than roughly 2 ½ times the actual loss itself. Fraud cost as a percent of revenues ranges between 1.58% to 2.39%* based on research just published by The Nilson Report. Payment card fraud globally has climbed to over $22 Billion in losses*.  What is alarming for USA credit card issuers is that the United States has 39% of worldwide card fraud losses. SmartMetric has created a powerful biometric fingerprint reader that sits inside a bank’s credit or debit card.  Using the cardholder's fingerprint to unlock and activate the card as the card user touches the card's 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 SmartMetric’s President & CEO, Chaya Hendrick. The SmartMetric biometric credit card works with the global standard chip cards. There are more than 6 billion chip cards now issued by banks globally. To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card SmartMetric website: www.smartmetric.com * The Nilson Report May 18, 2018 Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also 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...