The SmartMetric biometric credit card brings the next generation of high security to payment cards by using biometric swipe technology developed by SmartMetric inside the card for user validation

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NEW YORK–(BUSINESS WIRE)–SmartMetric, Inc. (OTCQB: SMME): Taking credit and debit card security to the next level, SmartMetric has created a nano-biometric fingerprint scanner that sits inside the credit card. credit and which is used to confirm that the person using the card is the rightful cardholder.

“We are confident that our card will be adopted in the US market, as it is the only biometric credit card that can be used across all classes of card readers, from retail outlets to ATMs” , said Chaya Hendrick, President and CEO of SmartMetric.

The company is working closely with a leading global credit and debit card brand and payment network to get the next-generation SmartMetric biometric card operational across its extensive global retail and ATM payment network.

Because the SmartMetric Biometric Card works without needing to be inserted into a reader and because it has its own internal rechargeable miniature hybrid battery, the SmartMetric Biometric Card is the only biometric card that can work in the vast majority of ATMs. .

“The user’s fingerprint is stored inside the card using a secure processor separate from that used for the payment processing processor, adding another layer of security for the protection of the card user’s own biometrics while providing maximum a la carte function,” said Chaya Hendrick. .

SmartMetric engaged an independent market research firm to conduct a survey of Visa credit card holders in the United States. This research showed that over 60% of existing credit card holders in the United States are willing to purchase a biometric credit card for an added sense of security.

The majority of survey respondents said they would be willing to pay $69.00 for a secure biometric credit card. Probing whether or not they would be willing to pay a higher amount, such as $90.00 or $150.00 per card was not done. However, with over 60% of them saying they would pay $69.00 for such a card, this, if converted into consumer purchase and adoption of the SmartMetric biometric card, would lead to possible adoption. in the United States alone exceeding 100 million cards.

“Given the responses to the consumer survey which also documented the high level of consumer concern over payment security, we believe that the first card-issuing bank to adopt the SmartMetric biometric card will be able to attract significant market share away from traditional credit cards and their issuers,” said Chaya Hendrick.

It is estimated that there are over 200 million credit and debit cards issued in the United States.

In-card biometric security SmartMetric uses the cardholder’s fingerprint biometrics to identify the card user and activate the card when inserted into a card reader or ATM. A sensor sits on top of the card and is simply touched by the user when reaching out to insert their card into a reader. In less than a second, the cardholder’s fingerprint is scanned and compared to their pre-registered fingerprint in the card’s fingerprint which, in turn, activates the card for a transaction.

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. Figures published by EMVCo3 reveal that by 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.

To view the SmartMetric biometric card, please follow this link – SmartMetric biometric card video. To view the company’s website: www.smartmetric.com

SOURCES:

1 Credit Card Fraud Annual Report 2021: Prevalence, Awareness and Prevention | Security.org

2 2020-survey-of-consumer-payment-choice.pdf (atlantafed.org)

3 10 billion and more: what is the latest EMV?® Chip Data Means for Global Payments – EMVCo

Please note: EMV is a registered trademark of EMVCo. Visa is a registered trademark of Visa Inc. Mention of EMV and Visa does not imply a business relationship with SmartMetric, Inc. but is used only in the informational context of this release.

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 any of 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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