NEW YORK, September 21, 2022–(BUSINESS WIRE)–SmartMetric, Inc. (OTCQB: SMME): Goode Intelligence, a London-based research firm, has listed the following companies as suppliers of biometric smart cards. Zwipe, CardLab, Card Tech, Feitian, Jinco, Linxens, Kona I, MeReal Biometrics, NXP and SmartMetric.
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The SmartMetric biometric card is protected by issued patents which it claims would prevent other biometric card companies from entering, in particular, the US market.
We understand that SmartMetric is the only biometric smart card designed for credit and debit cards that uses a separate secure encrypted processor to store a person’s fingerprint inside the credit or debit card. Since SmartMetric does not use the smart card chip, or what the credit card industry calls the EMV chip, to store a person’s fingerprint, the SmartMetric biometric card has a number distinct advantages over others.
The SmartMetric biometric card enables simple, frictionless fingerprint enrollment. Because it does not use the EMV/Smartcard chip to store the fingerprint, it does not need a separate reader to capture the person’s fingerprint for storage inside the card biometric. In the case of credit and debit cards, other companies’ biometric cards require the person to visit a bank branch to have their fingerprint captured and stored in the card using a fingerprint reader. special fingerprint. This is very inconvenient to the public and of course impractical in credit card markets such as the United States where the vast majority of new credit cards issued to customers are mailed.
Since SmartMetric uses a separate processor and in-card fingerprint storage for user fingerprints, credit and debit card customers do not need to go to, for example, at a bank branch to have their fingerprint recorded and stored in the biometric card. The SmartMetric solution enables simple registration of the fingerprint on the card in the same way and as simple as one would store fingerprint biometrics on a mobile phone – no special reader is required. Just like the mobile phone with its built-in fingerprint reader, the SmartMetric biometric card itself is used to capture and store a person’s fingerprint. A simple process of touching the sensor several times, a continuous green LED light indicates successful fingerprint enrollment and the new cardholder’s fingerprint is stored in the SmartMetric biometric card forever.
“We know of no other biometric card developed for use by large-scale banks and credit card issuers that has created home fingerprint enrollment as simple and intuitive as the one developed by SmartMetric,” said Today. Today Chaya, President and CEO of SmartMetric. Hendrik.
“We are excited to move forward with our card in association with card issuing banks here in the US. The company, being a US based company, is focusing its first product release in the US in association with a leading credit card issuer who is currently in talks with SmartMetric to release and issue its unique advanced biometric credit and debit card to the public,” said Chaya Hendrick.
SmartMetric has been backed by private investor shareholders during its long product development phase. In recent times, the company has received funding from one source through what are commonly known as convertible notes. The company has no idea how many shares may or may not have been converted under these prior notes.
Recently, in company filings, it was revealed that the company had four professional investment funds to provide a funding round while at the same time the company was registering, through an S1, additional shares.
An agreement is in place to provide up to $5 million in direct debit funding through the S1 record with the largest of these funds.
The company is very grateful for the financial support it has received from its shareholders over the years and is very grateful for the funds that have now provided liquidity to enable the company to move forward quickly in running its card business. biometrics on the market.
“SmartMetric does not intend to proceed with a stock split. We expect the company to be accurately valued in the market as it continues to execute its business,” Chaya said. Hendrick.
SmartMetric is the only US-based biometric credit card company and has current manufacturing capacity to supply US card-issuing banks with over one million cards per month.
SmartMetric’s biometric card addresses the existing multi-billion chip credit and debit card market. The figures published by EMVCo reveal that at the end of 2020, 10.8 billion EMV® smart cards were issued by financial institutions and were in circulation around the world – a massive increase of almost a billion credit and debit EMVs® charts compared to the previous twelve months.
Please note: EMV is a registered trademark of EMVCo
Safe Harbor Statement: The forward-looking statements contained 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. In addition, 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 such forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate” , “believe”, “estimate”, “predict”, “potential”, “continue”, “probable”, “should”, “would” and variations of these similar terms and expressions, or the negative of these terms or expressions similar. These forward-looking statements are necessarily based on estimates and assumptions that, although considered reasonable by us and our management, are inherently uncertain. Factors that could 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 growth plans; changes in the competitive environment of our industry and the markets in which we operate; our ability to access capital markets; and other risks discussed in the Company’s filings with the United States Securities and Exchange Commission, including our Annual Report on Form 10-K, which documents are available from the SEC. We caution you not to place undue reliance on forward-looking statements, which are made as of the date of this press release. We undertake no obligation to publicly update these forward-looking statements to reflect actual results, new information or future events, changes in assumptions, or changes in other factors affecting the forward-looking statements, except to the extent required. by applicable laws. If we update one or more forward-looking statements, no conclusion should be drawn that we will make additional updates with respect to such or other forward-looking statements. Investors and security holders are urged to carefully review and review each of SmartMetric Inc.’s public filings with the SEC, including, but not limited to, where applicable, annual form reports. 10-K, proxy statements, Current Reports on Form 8-K, and Quarterly Reports on Form 10-Q.
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