SmartMetric, Inc. (OTCQB: SMME) reviews playing cards nonetheless dominate the digital funds house regardless of the push to interchange credit score and debit playing cards with cell transactions – the Maker of Biometric Credit score and Debit Playing cards
5 years on, after a significant push by Silicon Valley to maneuver funds away from playing cards to cellphones, it’s now clear that the patron, notably in Europe and the USA, has not embraced cell phone funds. Playing cards nonetheless dominate and dwarf the miniscule numbers of transactions executed utilizing a cell phone. Not solely are playing cards persevering with to dominate the funds world, however the variety of playing cards within the arms of customers is growing.
Removed from credit score and debit playing cards being threatened by new know-how, they’re growing their market share whereas Silicon Valley’s push to maneuver funds into smartphone-based funds has been an abject failure.
Only a few years in the past, based mostly on the advertising hype of tech corporations, many leaders within the bank card business had been even saying publicly that the tip of the ever present bank card is close to. “Every part shall be executed on smartphones,” was the clarion name all through the funds business. This, after all, has not occurred, however reasonably the other.
“The cardboard for credit score and debit transactions has not solely not disappeared however has actually grown in use as customers draw back from trusting their smartphones for day-to-day credit score and debit purchasers,” SmartMetric’s President & CEO, Chaya Hendrick stated as we speak.
Nearly all of issued bank cards now are what are generally known as “chip cards.” That’s playing cards with small sq. chip on the floor of the cardboard that’s used to ship encrypted info from the cardboard to the retail card reader and ATM. America has greater than 842 million* credit score and debit playing cards as of the final quarter of 2018. The world whole of chip based mostly credit score and debit playing cards now tops greater than 8.2 billion playing cards as of the tip of 2018 *. That is over a billion card improve from the earlier yr.
Foreseeing the expansion in the usage of chip-based credit score and debit playing cards, SmartMetric over a decade in the past set about so as to add further safety by placing a biometric fingerprint scanner inside the cardboard that’s used to activate the cardboard’s chip following a biometric validation of the cardboard person.
SmartMetric has constructed a totally useful fingerprint scanner that sits contained in the bank card and debit card. The cardboard’s approved person shops their fingerprint inside the cardboard, and the fingerprint scanner inside the cardboard, utilizing a fingerprint sensor on the cardboard’s floor, makes use of the pre-stored fingerprint to match towards the cardboard person’s fingerprint after they contact the cardboard’s sensor on the cardboard’s floor.
Utilizing the SmartMetric miniaturized fingerprint scanner know-how, SmartMetric has now introduced biometric safety know-how to the now all-pervasive chip-based credit score and debit card – SmartMetric Biometric Playing cards.
SmartMetric holds issued patents on its know-how. Years of analysis and growth have now culminated in a world class main product within the biometric IOT house.
SmartMetric is a USA-based firm with gross sales and advertising partnerships in Latin America, Europe the USA. Engineering of the biometric card electronics is finished in-house and is the owned mental property of the corporate. SmartMetric has varied patents pending and has 5 vital issued patents.
To view the corporate web site: www.smartmetric.com
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SmartMetric Biometric Playing cards