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SmartMetric, Inc. (SMME) says following the recent disclosure of more than a million users' biometric data, including actual face and fingerprint images that were exposed to hackers, it is now time for governments to look at protecting users' biometric data from poorly protected centralized data storage systems. These researchers discovered a security vendor that stores biometric data including managing the physical and cyber access for 5,700 organisations in 83 countries, including governments, banks, defense installations, corporations and police departments.
SmartMetric, Inc. (SMME), after decades of research and development, the company has successfully achieved amazing electronic miniaturization to have a fully functional, self-powered fingerprint reader inside a credit card. To fit a fingerprint scanner inside a credit card, SmartMetric has had to reduce the thickness of components including the circuit board to less than a third of the height of a credit card. This includes a sophisticated power management system that allows the card to scan a user’s fingerprint while they are for instance standing in front of an ATM prior to the card being inserted into the machine.
SmartMetric, Inc. (SMME) - Alarming figures show that businesses are suffering monumental losses due to online fraud. What is also alarming is that rate of growth in online fraud for merchants is in triple figures with losses for chargebacks alone for the end of 2020 estimated to reach $30 Billion in the United States. Chargebacks are where the credit card user amongst other things, denies making the card purchase or says they never received the goods.
SmartMetric, Inc. (SMME) Alarming figures show that businesses are suffering monumental losses due to online fraud. What is also alarming is that rate of growth in online fraud for merchants is in triple figures with an estimated loss for chargebacks alone for the end of 2020 will reach $30 Billion in the United States. On average merchants lost 1.9% of total revenue to fraud in 2016.
SmartMetric, Inc. (SMME), the developer and manufacturer of biometric credit cards, welcomes the statement by Goode Intelligence in a recent release that it identifies that across all payments channels, old or new, from ATMs, smartphones, biometric payment cards, connected cars, smart home devices and the latest wearable devices, biometrics is becoming the only solution to improve customer experience and to reduce payment fraud. “The rise of biometrics in the credit and debit card industry is happening at the same time that we have advanced the in-the-card biometric technology to the point that our self-powered fingerprint scanner technology fits into a standard credit card industry conforming size, allowing us to be able to provide card issuing banks around the world with our state-of-the-art advanced biometric credit and debit card solution,” said today SmartMetric’s President and CEO, Chaya Hendrick.
SmartMetric, Inc.’s (SMME) President and CEO Chaya Hendrick will be speaking at the Payments and ID Conference in Madrid, Spain on June 19 at 1:30pm. The subject of the presentation is Biometric Card Payments: The Future Is Now. ADVANTIS is a major sponsor of the Conference.
SmartMetric, Inc. (SMME) will be presenting its new biometric fingerprint activated credit card with the inbuilt ADVANTIS EMV Chip and banking operating system at the Secure Payments and ID Conference being held on June 19, 2019 in Madrid, Spain. “We are excited to be presenting our amazing new biometric card in association with ADVANTIS in Madrid on June 19 at the Secure Payments and ID Conference which is being attended by the leading banks in Europe. This will give us the opportunity to unveil our new biometric credit card that has been especially developed with the ADVANTIS credit card chip and payments system that is being used by 100 banks around the world,” said today SmartMetric’s President & CEO, Chaya Hendrick.
SmartMetric, Inc. (SMME) is pleased to report that it is nearing completion of the integration of the Advantis chip and operating system into the SmartMetric biometric card platform. This will allow over 100 credit card issuing banks worldwide that are currently issuing credit cards with the Advantis chip and operating system to seamlessly offer the new ADVANTIS biometric card manufactured by SmartMetric, Inc. “We are very excited about the pending release of the ADVANTIS version of our biometric card and are looking forward to a close working relationship with the Advantis team in making this available to both existing and new Advantis bank customers in Europe, Latin America and the United States,” said today Chaya Hendrick, SmartMetric’s President and CEO.
SmartMetric, Inc. (SMME) as of December 2018 according to figures released by the chip card industry standards body, EMV Co, more that 8.2 Billion chip cards have been issued globally for use in the card payments industry. The United States was one of the last regions in the World to adopt the chip on the card technology but in less than four years it has now surpassed adoption rates of Asia Pacific and given the current adoption trajectory will approach the European adoption rates in the near future. Outside of Asia Pacific the United States will surpass Latin America and Europe in the total numbers of chip cards issued and in use for payments.
SmartMetric, Inc. (SMME), the developer and manufacturer of biometric credit cards, welcomes the statement by Goode Intelligence in a recent release that it identifies that across all payments channels, old or new, from ATMs, smartphones, biometric payment cards, connected cars, smart home devices and the latest wearable devices, biometrics is becoming the only solution to improve customer experience and to reduce payment fraud. Goode Intelligence, in a research report on Biometrics said: “Biometrics payment cards not only offer improved security by removing the PIN but also allow frictionless payments for higher value transactions (for debit cards).
SmartMetric, Inc. (SMME) entered into a manufacturing agreement with ServiRed to incorporate the Advantis EMV Chip and Chip Card Operating System into the SmartMetric biometric fingerprint activated credit cards. Following the signing of the agreement with ServiRed, Redsys with the Advantis chip and operating system technology and business unit was acquired from ServiRed through company succession. ServiRed and Redsys with its now Advantis business unit, while being separate legal business entities, have many of the same shareholders.
SmartMetric, Inc. (OTCQB: SMME) – in the ongoing fight against credit card fraudsters and a desire to provide greater security for credit card users, SmartMetric has created an amazingly secure and safe credit card that uses the card holder's fingerprint biometrics to turn on the card. Simply touching the card's fingerprint sensor embedded in the surface of the card, in less than 0.25 seconds the card's internal fingerprint scanner reads the card user's fingerprint, matches with the user's pre-stored fingerprint and turns on the card.
SmartMetric, Inc. (OTCQB: SMME) – The European Banking directive known as PSD2 aims to make payments safer, increase consumer protection, foster innovation and competition while ensuring a level playing field for all actors, including new ones which were not regulated by the first version of the Payment Services Directive. The PSD2 directive is mandatory on all European Banks mandating that Bank's customers must have Strong Customer Authentication (SCA) when amongst other things, they use their credit card for electronic transactions. According to the European Payments Council the principle of SCA is to ensure customer protection via an increased level of security of electronic payments.
SmartMetric, Inc. (SMME) exhibited its latest biometric fingerprint activated credit card last week at the Payments Summit held in Phoenix, Arizona. SmartMetric's President & CEO spoke at the Payments Summit Conference on the subject of Biometric Cards in the credit card industry. SmartMetric recently signed an agreement for the production of its biometric credit card to include the Advantis EMV card chip along with the Advantis chip card operating system.
SmartMetric, Inc. (SMME) says the alarming increase in fraud notifications has a significant impact on consumers trust in institutions issuing credit cards. This is born out in the how consumers' use of cards changes as a direct result following a card fraud incident. This shows a seriously heightened concern by credit card users while also revealing a serious business cost for Banks above and beyond the direct cost of fraud losses.