SmartMetric Reports EMV chip cards in circulation worldwide exceed 6 Billion


NEW YORK, Dec. 08, 2017 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) – SmartMetric, the developer of the biometric credit card and Cyber/Access/Identity multi-function security card, reports that as of the latest industry official figures more than 6 Billion Chip Cards with the EMV Chip have been issued by Banks and Credit Card companies around the World.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e5e2f34e-720b-4794-ab69-35a38c8f7bd4

SmartMetric payment chips on its biometric credit card are EMVco approved chips as well as the underlying chip software is EMVco approved.  EMV chips are smartcard chips that have been specially designed for the banking credit card industry allowing for a standardized chip architecture that facilitates global interoperability on global credit card payment networks.  EMVco is a standards and licensing body originally founded by Eurocard, MasterCard and Visa.  All other major payments networks are now members of EMVco.

Separate licensing and approval is done with each of the payments networks allowing banks and card issuers who are connected with one or more respective card payment electronic networks to have their cards operate seamlessly across the world at retail cards reading machines and ATM’s.

“We as a company are excited with the adoption of EMV chips in credit cards globally as our biometric fingerprint in-card technology is built around the EMV chip,” said SmartMetric’s President and CEO Chaya Hendrick, today. "The SmartMetric biometric reader scans, matches and turns on the EMV card in less than 0.25 seconds.  This is all done with an incredibly thin mother board with equally incredibly thin electronic components allowing a fully functional fingerprint scanner to sit inside a standard thickness credit card."

SmartMetric is finalizing key distributors in strategic locations around the world as it moves forward in its sales and marketing of its biometric credit card product to Banks and credit card issuers globally.

The company, SmartMetric Inc. presented its biometric credit card solution at the recent Money 20/20 Conference in Las Vegas, Nevada where leading banking and payments card executives from around the world gathered to see and hear about the latest innovations in payments and banking technology.

SmartMetric’s current production capacity is limited to 1 million cards a month.  However both its component supply chain, electronics assembly and card production facilities are able to meet a major increase to meet the expected demand from Banks and credit card issuers it is now in  biometric card adoption talks with.

ABOUT THE SMARTMETRIC BIOMETRIC CARD: Keeping your biometric identity safe is at the center of the design of the SmartMetric biometric card.  At no time does a card holder's fingerprint leave the card.  A person’s fingerprint is stored inside the card and matching of the person's fingerprint is done on the card itself.  This was a central design requirement of the SmartMetric biometric card solution that necessitated SmartMetric to create a self-powered inside the card, fully functional fingerprint scanner.  Also, so that the card could be used at ATMs and POS (Point Of Sale) card readers the SmartMetric development team created an on card miniature power management system that recharges the card as it is being used in card readers.

To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card

To view the company website: www.smartmetric.com

Source: https://www.mobilepaymentstoday.com/news/emv-cards-in-circulation-worldwide-top-6b/

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 of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.

Contact Information

SmartMetric, Inc.
Head Office
+1.702.990.3687
info@smartmetric.com

 

The SmartMetric biometric credit card