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SmartMetric Reports Consumers Find Biometrics Used in Making Credit or Debit Card Payments Are Both Easier and Safer


NEW YORK–(BUSINESS WIRE)–

SmartMetric, Inc. (SMME) reports the top benefits associated with using biometric authentication for payments in the mind of consumers are that it eliminates the need to remember multiple passwords/PINs (50%) and perceptions that it is more secure than passwords/PINs (46%).

Nearly half of credit and debit card users say in a survey conducted by AYTM of active payments users, they perceive biometrics used in the payment process is more secure than passwords. Even more think that using biometrics to make a payment is beneficial because it does away with the need to remember multiple passwords or PINs.

Ranked in accordance with importance are the benefits consumers see in using biometrics in payments using their credit or debit card.

  • Would eliminate the need to remember multiple passwords and PIN numbers
  • Is more secure than passwords and PIN numbers because they confirm my identity
  • I can’t forget/lose my authentication method
  • Would mean my details and accounts are safe even if my smartphone or computer is stolen
  • I can pay anywhere/anytime because the authentication method is a part of me
  • Biometric authentication is easier/less of a hassle than entering a password or PIN number
  • Using biometric authentication would give me peace of mind that my payment is protected

This consumer research is in-line with consumer research commissioned by us which shows nearly 70% of card using consumers would pay for a biometric credit card because of the perceived added security that biometrics brings said today SmartMetric’s President and CEO, Chaya Hendrick.

There are now over 8.2 Billion credit/debit cards with a payments chip on the top of the card used to make a purchase or ATM transaction. SmartMetric biometric cards use the card users fingerprint to activate the chip used on today’s chip-based credit and debit cards. The SmartMetric® biometric in-the-card fingerprint scanner uses the card holders’ fingerprint to turn on the card based on a fingerprint scan of the card holder. As the card holder touches the fingerprint sensor the card’s internal fingerprint scanner reads, matches and then turns on the card instantly.

In less time than it takes to reach across to insert the card in a credit or debit card reader, the card has been biometrically activated if of course the person using the card is the legitimate card user. Making the use of the SmartMetric® biometric credit/debit is absolutely frictionless. In fact, it is even faster than using passwords or PINs.

The SmartMetric® biometric card solution for Banks provides a huge leap forward in credit card security moving security away from PINs and signatures to the vastly stronger biometric validation technology built inside the card.

To view the SmartMetric Biometric Card please follow this link – Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com.

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.

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