SmartMetric, Inc. (OTCQB: SMME) — In light of the payments and credit card industry move into adopting crypto currency technology to facilitate payments, SmartMetric has now moved forward its planned release of its crypto key storage technology for use with credit and debit cards.
“For a number of years we have been working on an engineered solution to bring together the power of biometric card based security, large scale encrypted memory incorporated into an existing credit and debit card format,” said today SmartMetric’s President & CEO, Chaya Hendrick.
Now that one of the major payment cards networks has announced its move into Government approved stable crypto, SmartMetric is now able to offer a card platform that has embedded inside the card a biometric fingerprint scanner for validating the card user and automatically giving the validated user access to the encrypted crypto keys stored inside the new SmartMetric Crypto Payments Card.
The SmartMetric Crypto Card solution has its own crypto key secure element inside the card protected by firewalled encryption. This allows for the safe storage on the card of encrypted crypto keys in a highly functional manner.
SmartMetric has built inside its crypto payments card significant memory along with a crypto engine inside a secure element chip separate from the secure element used to perform credit and debit card transactions. By having two separated firewalled secure elements we are able to provide a much higher security than current card architecture provides while also providing greater memory and added encryption power.
The SmartMetric biometric fingerprint activated credit/debit card is easy to use and allows an easy to enroll of a person’s fingerprint. The card holder’s fingerprint is stored and encrypted inside the SmartMetric biometric card in a one-time touch and store process. Similar to the simplicity and ease of storing a fingerprint on a mobile phone. SmartMetric secure user storage of the cardholder’s fingerprint does not require additional fingerprint reading devices in Bank branches for enrolling fingerprints. This allows the SmartMetric biometric card solution to be easily used by mass card issuers without having to change their distribution methods.
This video link shows the simple and secure fingerprint enrollment process for the card user. FINGERPRINT CARD ENROLLMENT
Biometric security used to activate the credit/debit card provides a much more enhanced level of security beyond the simple four-digit PIN. This enhanced security represents a major advance in the protection of card holders and card issuing banks alike.
The current manufacturing capacity of the SmartMetric biometric credit/debit card is in excess of 1 million cards a month.
An independent research company has projected that estimated biometric credit/debit cards worldwide over the next few years will exceed 500 million cards. According to industry figures, over 9 billion credit/debit chip based cards have been issued globally.
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.
Figures provided by the Nilson Report and Goode Intelligence
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