U.S. Markets close in 16 mins

SmartMetric Announces Agreement With ServiRed to Manufacture the SmartMetric Biometric Credit/Debit Cards With the Advantis EMV Chip and Credit Card Operating System

NEW YORK--(BUSINESS WIRE)--

SmartMetric, Inc. (SMME) is pleased to announce that it has entered into an agreement and license to manufacture the SmartMetric biometric credit card with the Advantis credit and debit card EMV chip technology.

SmartMetric was founded in 2002 and has since been working on the creation of a biometric fingerprint reader to fit inside a credit card and other cards the size and thickness of a credit card. It has now successfully created a very thin circuit board that has over 200 passive and active components including a battery power management system along with a rechargeable very thin battery and a ARM Cortex processor for powering a sub 1 second fingerprint scan and match. When a card user touches the sensor on the surface of the card, the card’s internal fingerprint scanner instantly scans and matches the cardholder’s pre-stored fingerprint and, if matched in less than a second, turns on the credit card.

SmartMetric Inc. is a United States company with its head office in Las Vegas, Nevada. The company has fulltime electronics engineers in Tel Aviv, Israel, with sales and marketing operations in the United States, South America and Asia Pacific. SmartMetric will be expanding its sales and marketing into Europe as a result of its agreement with ServiRed, SA.

“We are excited by this agreement with ServiRed, who is a major European credit card network that also through its Advantis chip and card operating system will allow us to offer our advanced biometric credit and debit card solution to banks in Europe, South America and the United States,” said today SmartMetric’s President and CEO, Chaya Hendrick.

ServiRed, Sociedad Española de Medios de Pago, S.A. is Spain’s leading card payment scheme. It has 44 million cards in circulation, 1,147,077 merchants and around 32,421 ATMs. ServiRed has 100 members (banks, savings banks, and credit cooperatives), of which 67 are shareholders in the company.

The ServiRed scheme provides international interoperability through co-branding with Visa and MasterCard, for which it is licensed as a Group Member of Visa Europe and as a Principal Member of MasterCard Worldwide, and thus its members are empowered to issue Visa and MasterCard products and to acquire transactions made with them.

Advantis is an issuing technology based on the EMV standards, which provides the entire infrastructure necessary for processing payments. It focuses on addressing specific market needs by combining financial applications in the same platform: Visa, MasterCard and private label, with non-financial applications such as: electronic purse, electronic signature, transport or loyalty programs.

RedSys is the leading payment processor in Spain and the developer of the Advantis chip operating system. As of January 1st, 2019, RedSys has acquired from ServiRed, through company succession, the independent economic marketing unit of the Advantis System.

SmartMetric will be working closely with Advantis technology to offer customers worldwide a secure fingerprint biometrics credit card fully compatible with the international EMV standards.

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. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190205005887/en/