NEW YORK–(BUSINESS WIRE)–#americanexpress–SmartMetric, Inc. (OTC: SMME) issued patents awarded by the United States Patent Office that are licensed to SmartMetric from the founder of SmartMetric, Chaya Hendrick, gives SmartMetric exclusivity on biometric fingerprint sensor-based credit cards in the USA.
The issued patents describe and cover a credit card or debit card that has an EMV chip along with a fingerprint sensor on the surface of the card. These patents prevent any other company from selling or commercializing the use of a credit card that is a standard credit or debit card that also has a fingerprint sensor anywhere in the USA.
The global biometric payment cards market size was valued at USD 74.4 million in 2021.
It is projected to reach USD 5,878.32 million by 2030, growing at a CAGR of 62.50% during the forecast period (2022–2030). 1.
“Implementing new advances into its biometric fingerprint scanner built inside the credit card such as live fingerprint detection has taken a lot longer than we would have hoped, but we are glad to have finally reached this stage after such a long and lengthy development process,” said SmartMetric’s President and CEO Chaya Hendrick.
The SmartMetric biometric fingerprint scanning credit card is unique in the world in that it is the first and only such card that has an inbuilt rechargeable battery, allowing the card to be used at any type of credit card reader, including contactless and ATM readers.
Inside the card is also a hardware engineered solution that senses when an actual live fingerprint is used on the card that foils fake fingerprints from thieves.
“Our amazing fingerprint activated biometric credit card is years ahead of anyone else, and will provide a quantum leap in anti-credit card fraud for banks and consumers alike,” said Chaya Hendrick.
A fingerprint scan credit card is a type of biometric card that uses a built-in fingerprint scanner to verify the identity of the cardholder when they try to make a payment. This technology is designed to enhance the security and convenience of credit card transactions, especially for contactless payments, as well as standard contact payments and ATM transactions.
It has taken years of research and development to perfect the internal power system within the SmartMetric finger scan card. Millions of dollars in research and development have been invested to create the only card of its kind in the world that will work at all card readers. A card that is simple to download your fingerprint into the card at home without the fear and inconvenience of going somewhere else to have your fingerprint scanned and stored into the card.
The SmartMetric finger scan card is light years ahead and brings the reality of full biometric security technology to the ubiquitous credit and debit card world.
Credit cards still dominate the way consumer make payments. Non-credit card payments such as phones account for less than 5% of payment transactions, while the majority of transactions are done using either a credit or debit card.
According to a report published by Forbes Adviser on March 9, 2023, “Over the past year, nearly half the population (47.5%) opened at least one new account, bringing the total number of accounts to over 518 million by the end of 2022.” 2.
1 Biometric Payment Cards Market Trends, Share, Size, Growth, Forecast 2030 (straitsresearch.com)
2 Credit Card Statistics And Trends 2024 – Forbes Advisor
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Contacts
SmartMetric, Inc.
Chaya Hendrick
Tel: (702) 990-3687
Mobile: (305) 607-3910 (Pacific Time)
[email protected]
www.smartmetric.com
