SmartMetric, Report Reveals More Than 32% of Americans Affected by Credit Card Fraud While United States ID Theft Cost More Than $17 Billion
NEW YORK, July 23, 2018 (GLOBE NEWSWIRE) -- SmartMetric, Inc. (OTCQB:SMME) – According to Javelin Strategy, the number of identity theft victims in the US rose to 16.7 million in 2017. The cost of all of that lost data amounts to over $17 billion.*
Credit Card Fraud - More than 32% of Americans complained about credit card fraud in 2016, according to the FTC.*
To fight the ongoing war against credit card fraud, SmartMetric has created a miniature fingerprint scanner that sits inside your chip credit/debit card. By simply touching a sensor on the surface of the card scans and matches the cardholders fingerprint and if a match with the prestored fingerprint inside the card, the card is then activated.
“The scan, match, authentication and card activation takes less than a second according to SmartMetric’s President & CEO, Chaya Hendrick. Using the power of biometric security within the card itself allows for immediate user validation. I tremendous leap forward in card security said SmartMetric’s President.”
SmartMetric with its dealers and distributors in the USA, Europe and South America are now in talks with the some of the largest credit card issuers in the world. Because the SmartMetric biometric card uses existing industry standard payment chips it is easily deployable by Banks and does not require new systems or hardware.
According to industry published figures, there are now 7.186 billion chip cards issued by banks globally. This figure is based on reported figures for 2017. Figures reported in Q4 of 2017 and represent the latest statistics for from American Express, Discover, JCB, Mastercard, Union Pay, and Visa, as reported by their member institutions globally.*
The SmartMetric biometric credit/debit card is designed specifically for use with Chip Cards. Inside the SmartMetric biometric card is a fully functional fingerprint scanner that uses the card holders pre-stored fingerprint inside the card to match and then activate the card based on the cardholder’s fingerprint biometrics.
Safer and more secure than a pin number, the cardholders fingerprint is used to activate their enhanced secure credit card, adding increased protection from credit and debit card thieves. Using the power of biometric technology that is built into the credit/debit card, a card users fingerprint is used to unlock the card as it is inserted into a card reader at a retail store or an ATM. Simply touching the card, the card holders fingerprint is instantly scanned and matched with the prestored fingerprint inside the card. In less than a second the users biometrics are scanned and matched allowing the card to then function as it is inserted into the card reader.
“Touch your card and your fingerprint biometrics instantly unlock the card in less than a second. Safer than a password and so much easier and quicker than entering a PIN,” said today SmartMetric’s President and CEO, Chaya Hendrick.
The SmartMetric miniaturized biometric fingerprint scanning technology has been engineered and developed by SmartMetric.
SmartMetric is a United States company with its head office in Las Vegas, Nevada. It has a team of advanced engineers in Tel Aviv, Israel and has mass manufacturing capacity in various parts of the world. The company can now manufacture 1 million cards a month and has the capacity to increase this capacity significantly based on product demand.
The SmartMetric biometric card is protected by five (5) “issued” patents. Additional patents are pending.
To view a video of the SmartMetric card follow this link SmartMetric Biometric Card Video (older card type)
To contact the representative for the SmartMetric biometric credit/security card within the USA please contact PROTEC Secure Card, Tracey Breckenridge at [email protected]. To view their website, www.protecsecurecard.com
For more information concerning the new biometric secured credit and security card for South America please contact HOGIER GARTNER CIA S.A., Alvaro Gartner Valencia at [email protected] To view their website, www.hogier.com
* figures source: https://www.emvco.com/wp-content/uploads/2018/03/20180312_EMVCo_EMV_Chip_Deployment_Stats-20180327.pdf
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