BAY HARBOR, FL--(Marketwire -07/16/12)- SmartMetric, Inc. (SMME): The global card market reached $17 billion in 2011, jumping almost 14% from 2010, according to the 2011 International Card Manufacturers Association Global Card Market Statistics Report. According to this report, expanded production in the Asia-Pacific region led market growth as more than 30 billion cards were manufactured worldwide in 2011. Financial transaction cards (15.2% of the Global Card Market): 4,628,000 units were manufactured in 2011. The gap between traditional and chip based cards manufactured was smallest in the Asia-Pacific region (51.7% traditional and 48.3% chip based) and Europe (54.2% traditional and chip based 45.8%).
According to SmartMetric's President and CEO, Ms. Chaya Hendrick, the continued staggering growth of chip based financial cards represents a huge opportunity for SmartMetric. With our technology at the forefront of providing a higher level of security to the "chip card" market, SmartMetric is well positioned to make its fingerprint activated "chip card" technology a global platform in the Banking and Financial Sector. At the core of the SmartMetric technology, she said, is a fingerprint sensor that is embedded inside the chip based Credit and ATM cards that is used to scan and read a person's fingerprint before the card can be used in an ATM or Card Reading Machine at a retailer. As well as a fingerprint sensor on the surface of the card, inside the card attached to the sensor is a fully functional fingerprint reader that processes the persons fingerprint and matches it to the users pre-stored fingerprint. If a match doesn't occur then the financial card does not work. The Chip Card's surface chip is in effect turned on or stays off depending on whether a fingerprint match is made. Simply, the SmartMetric credit card mounted fingerprint scanner replaces vulnerable PIN numbers and makes Credit Cards and ATM Cards measurably safer.
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
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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.