BAY HARBOR ISLAND, FL--(Marketwire -08/27/12)- SmartMetric, Inc (SMME) (SMME) ("SmartMetric"), developer of "Chip & Swipe" Credit, Health and Identity Cards, has won a watershed victory over Visa, MasterCard in U.S. Federal Appeals Court. The court ruled in favor of SmartMetric upholding its patent in the U.S. for any data card that is inserted in a card reading device. The conclusion of the Federal Appeals Court provides SmartMetric with nearly ubiquitous intellectual property coverage over what are known as chip and PIN cards in the U.S.
"The implications are enormous," said Ms. Chaya Hendrick, SmartMetric's President & CEO. "The courts understood that our claims against Visa and MasterCard were sound and the Court handed down a decision on patent claim interpretation that respects and upholds the legitimate intellectual property rights of an inventor. It means that any time a company in the United States other than SmartMetric uses a smart card inserted into a device, like a bank ATM machine or a cash register at a store; they are in violation of our patent. This represents the vast majority of the ways in which chip cards will be used in the U.S., like the 1.5 billion EMV Credit and ATM Cards already issued by Banks globally outside the United States."
The Ruling on Data Insertion Cards: The Federal Appeals Court had no need to consider the validity of SmartMetric's lower court ruling on its patent coverage of data cards inserted into a reader. This ruling was not even considered for contestment by the Federal Appeals Court and any such card, device or solution remains the intellectual property of SmartMetric. Therefore, according to the SmartMetric issued Patent, data cards produced or implemented for the purpose of inserting a data card into a reader, like bank machines and retail transactions, are in violation of the patent along with other variations and forms of cards that carry data that may be used to cause an automatic connection to a network.
The Ruling on Networks: Visa and MasterCard had attempted to restrict the types of communications networks that would be considered covered by SmartMetric's patent. The lower court had ruled with Visa and MasterCard but was overturned in the Federal Appeals Court. Therefore any network employed by the data insertion-card system would be in violation of SmartMetric's Patent.
Product Production: SmartMetric is preparing to launch a number of products relating to its micro fingerprint reading biometrics technology. After many years in development including the engineering of the company's submicro components, SmartMetric is very close to announcing production and sales dates for its fingerprint activated cards. In addition the company is about to announce a new product line that will be in production and ready for sales within the next 60 days. The company is in current discussions concerning product retail distribution along with mass marketing support. This new fingerprint activated product will be sold globally and is ready for commencement of mass production.
The SmartMetric, Biometric Card Computer provides powerful computing with large memory capacity in a revolutionary size that has taken more than 10 years of research and development. Using the latest in sub micro technology electronics, the company has achieved a level of miniaturization that allows it to release a solution of portable computing power that, combined with SmartMetric's biometric fingerprint in-card scanning technology, is so revolutionary it will change the way business is done and information is handled across a broad range of industries. For further information please go to the company's website: www.smartmetric.com
Safe Harbor Statement
Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. 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. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.