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It Is Estimated That the Contactless Credit and Debit Card Market Will Be Worth $18 Billion By 2025
SmartMetric, Inc. (OTCQB: SMME): The Contactless Payment Market Global Forecast to 2025 report published by MarketsandMarkets says the global contactless credit/debit card payment market size is expected to grow from USD 10.3 billion in 2020 to USD 18.0 billion by 2025. This is at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period. The major advantage offered by contactless payments is that customers can instantly complete transactions with the tap of a card. This increases the speed of transactions, making contactless payments even more efficient stated the MarketsandMarkets report.
This research report was compiled prior to the COVID-19 Pandemic. The question now being asked in the credit and debit card industry is how will this Pandemic effect consumer behavior going forward. Will there be an aversion en masse to the touching of doors, buttons such as in elevators as well as devices such as card keypads used to enter a PIN at the store or ATM?
“There is little doubt that this Pandemic will have a lasting impact on the psyche of the public to the point that it will most definitely impact consumer tactile behavior going forward,” said today SmartMetric’s President & CEO, Chaya Hendrick.
The SmartMetric biometric activated credit and debit card that is turned on by the cardholders’ fingerprint is ideally suited for the future post COVID-19 Pandemic. The card is able to provide a much higher level of security and user identification than the very weak security of a PIN while coupled with the contactless wireless feature that allows the card user to never have to touch a publicly used pin pad or card reader when using their card in a store.
This higher level of security and absolute 100% identification validation of the card user means in-store card transaction spend limits for contactless “biometric” cards can be set to be the same as that for regular contact cards. This is a significant advantage of a biometric based contactless card. Regular non-biometric contactless cards usually have a very low in-store spend limit due to the inherent low user security of such cards. This lower level of security for contactless cards is transformed into a very high-level security when the contactless radio frequency technology in the card will only work following a 100% biometric identity validation, carried out by the cards internal fingerprint scanner.
As the World begins to open up to business, SmartMetric stands ready to move aggressively forward in making available it’s new card to card issuing banks around the world, in association with its global banking partners.
SmartMetric is a USA-based company with sales and marketing partnerships in Latin America, Europe the United Stated. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.
To view the SmartMetric Biometric Card please follow this link – Video of the SmartMetric Biometric Card To view the company website: www.smartmetric.com
*MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7,500 customers worldwide, including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
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/20200508005481/en/
Contacts
Investor Relations
Steffan Dalsgaard
(415) 250-0105
SmartMetric, Inc.
Chaya Hendrick
President & CEO
3960 Howard Hughes Parkway, Suite 500
Las Vegas, Nevada. 89169 USA
Tel: (702) 990-3687
ceo@smartmetric.com
www.smartmetric.com
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