SmartMetric is pleased to announce that it has integrated user fingerprint card registration into its new biometric credit card model.
NEW YORK–(BUSINESS WIRE)–SmartMetric, Inc. (OTCQB: SMME): Using state-of-the-art miniature sub-microphone electronics and advanced software, SmartMetric has successfully integrated biometric secure fingerprint copying and card matching. This means that a separate fingerprint scanner required by less sophisticated biometric cards is not required for SmartMetric card user fingerprint enrollment.
The SmartMetric biometric card uses a powerful encrypted processor, separate from the payment chip card processor, which is used to store the card user’s fingerprint inside the card. Since the SmartMetric biometric card does not store patterns or images in the same chip used to process payments, the SmartMetric biometric card solution is able to provide fast and highly secure fingerprint registration and retrieval. without compromising the security of the card’s payment chip.
Other biometric cards that rely on storing the fingerprint in the same chip used for card processing require the new card user to go to a bank branch and use a separate fingerprint scanner so that his fingerprint is stored inside the card.
This is obviously a barrier to mass adoption of the biometric card, especially in countries like the United States where the majority of major card-issuing banks issue their cards by mail. In fact, one of the largest credit card issuers in the United States has very few branches and would not be able to adopt a biometric card requiring its customers to visit a branch to enroll their fingerprint.
The SmartMetric biometric credit card has been specifically designed to work in the US market, taking into account the methods used to get cards into the hands of customers by the major US card-issuing banks.
SmartMetric biometric cards do not use the payment chip visible on the surface of the ordinary credit card, leaving this chip dedicated to processing payments on a credit card reader. Storing and matching a person’s fingerprint in a separate processor allows the user’s fingerprint to be double-firewalled and protected by highly secure cryptographic technology.
“As a US company, we have taken care to design a biometric card solution that meets the needs of US credit card issuers,” said Chaya Hendrick, President and CEO of SmartMetric.
“Having a biometric card designed for the needs of credit card issuers is one of the overarching guidelines that guided our advanced and unique biometric card,” Hendrick said.
SmartMetric’s biometric card addresses the existing multi-billion chip credit and debit card market. Figures published by EMVCo1 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 nearly a billion EMV credits and debits® charts compared to the previous twelve months.
1 The data source: 10 billion and more: what is the latest EMV?® Chip Data Means for Global Payments – EMVCo
EMV is a registered trademark of EMVCo
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