NEW YORK, May 03, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) –
“On average, nine in ten transactions that get flagged today for fraud turn out to be legitimate transactions,” said Nathan Rogers, senior manager, product marketing for CO-OP Financial Services. *
Merchants face a serious challenge in today’s marketplace as they try to balance the need for strong antifraud measures with consumers’ desire for fast, easy, and digital purchases. Overzealous security measures incorrectly flag legitimate transactions, which potentially alienate customers and result in reduced revenue for merchants.
One in six (15%) of all legitimate cardholders experienced at least one decline because of suspected fraud in the past year, resulting in a total of $118 billion declined.
32% of falsely declined credit card shoppers stopped shopping with the merchant entirely.*
“The SmartMetric Biometric fingerprint activated credit card is able to almost eliminate both wrongly rejected card transactions as well as overcoming another area of card losses, “friendly fraud”. By the cardholder being positively identified as the rightful card holder through their biometrics, Banks and Merchants can see that the card is being used by the authorized card holder at the time the transaction is being made,” said today SmartMetric President & CEO, Chaya Hendrick.
ABOUT SMARTMETRIC
SmartMetric is a United States company with its head office in Las Vegas, Nevada. The company was founded in 2002 and became a publicly traded company on the OTCQB in 2004 trading under the symbol OTCQB: SMME.
The company has a team of electronics engineers in Tel Aviv, Israel and has mass manufacturing capacity in various parts of the world. The company can now manufacture 1 million cards a month and has the capacity to increase this significantly based on product demand.
The SmartMetric biometric card is protected by five (5) recently “issued” patents. Additional patents are pending. SmartMetric is prepared and willing to defend its patents vigorously against all infringers. To this end SmartMetric has engaged legal representation highly experienced in patent litigation and enforcement.
* https://www.cuinsight.com/declined-true-cost-false-positives-co-op-can-help.html
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.
CONTACT INFORMATION
Grupo Datco
San Martin 1004
Buenos Aires, Argentina
Contact
Adrian Carnevante – Director
+54.(9)11.4103.1300
SmartMetric, Inc.
3960 Howard Hughes Parkway
Las Vegas, NV 89169
+1.702.990.3687
Contact:
Chaya Hendrick
chaya@smartmetric.com
www.smartmetric.com