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SmartMetric Biometric Credit Cards Says That Card Fraud Losses Continue to Rise to Over $27 Billion


SmartMetric, Inc. (OTCQB: SMME) card fraud losses reached $27.85 billion in 2018, up 16.2% from $23.97 billion in 2017. Consumer research commissioned by SmartMetric shows that nearly 60% of existing credit card users would pay for a credit card that has built-in-the-card biometric security. The research shows that the single biggest motivator for consumers to embrace biometric technology on their credit cards is the real fear of card-based fraud.

With all the talk of mobile phones replacing credit and debit cards, the reality shows that consumers prefer to use cards over mobile phones. There are now 22.11 billion credit, debit, and prepaid cards in circulation worldwide as of December 31, 2018. It is projected that there will be 29.31 billion credit, debit and pre-paid cards over the next five years.

Purchases of goods and services using credit, debit, and prepaid cards issued in the U.S. are projected to reach $10.086 trillion in 2023.

The SmartMetric biometric fingerprint activated Debit and Credit Card has a nano fingerprint scanner built inside the card which is used to scan the card holder’s fingerprint when they touch the card. The card user’s fingerprint is pre-stored inside the card and matched with the card user’s fingerprint every time the card is used. Each fingerprint scan and match takes less then a quarter of a second allowing for “frictionless” biometric card activation.

“If you aren’t the user then simply your card’s contact and contactless chip will not work, only you can turn on your card using your biometrics as the turn-on key,” said today SmartMetric’s President and CEO, Chaya Hendrick.

The United States has more than 842 million credit and debit cards as of the last quarter of 2018. The world total of chip-based Credit and Debit Cards is now more than 8.2 billion cards. This is an increase of over a billion Credit and Debit Cards from the previous year.

Using the SmartMetric miniaturized fingerprint scanner technology, SmartMetric has now brought biometric security technology to the now all-pervasive Credit and Debit Card.

SmartMetric holds issued patents and patents pending on its technology. Years of research and development have now culminated in a world class leading product in the biometric IOT space.

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

Quoted figures source – https://nilsonreport.com/publication_chart_and_graphs_archive.php and SmartMetric, Inc. research.

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/20191205005661/en/

Contacts

SmartMetric, Inc.
Chaya Hendrick
President & CEO
3960 Howard Hughes Parkway, Suite 500
Las Vegas, Nevada. 89169 USA
Tel: +1.702.990.3687
ceo@smartmetric.com
www.smartmetric.com



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