SmartMetric, Inc. (OTCQB: SMME) – is pleased to announce that it has now received certification for its biometric card product for ground and air transportation from and into Asia.
A regulation enacted this year required that any product being flown into and out of Asia with batteries must have the battery, the battery on any circuit board and then the final complete product with the battery inside, certified by an approved third-party testing and certification laboratory. Without this certification even moving batteries to our circuit board assembler was impossible.
Each of the three separate certifications has taken approximately seven weeks per each certification. This cumulatively has caused a significant delay in our bringing our new SmartMetric ADVANTIS biometric card product to the market. We are excited that we are now able to take our product to our sales and marketing partners RedSys / ADVANTIS who in turn will now be able to offer our biometric credit and debit card product to their more than five hundred card issuing banking organizations around the world, said today SmartMetric’s President and CEO, Chaya Hendrick.
RedSys offers to banks around the world an EMV chip with a card payments software system that allows card issuers to issue credit and debit cards that work on the global payments networks run by Visa and MasterCard. The ADVANTIS card chip has now been built into the SmartMetric biometric card allowing the RedSys and the ADVANTIS teams to offer the SmartMetric biometric card solution to their existing banking customers as well as attract new banking customers who want a solid biometric card product turnkey solution.
The RedSys ADVANTIS credit and debit card chip is used by some of the world’s largest global banks. More than 1.4 Billion cards have been issued to date with the ADVANTIS chip. Now these banks will be able to seamlessly offer the advanced SmartMetric biometric card with the onboard ADVANTIS chip as an exciting new credit card product to their customers.
SmartMetric’s current manufacturing capacity allows it to produce 1 million cards a month. Expansion of this capacity is planned with the company having a goal in the short term to be able to produce 10 million cards a month. According to industry research the demand for biometric credit cards will exceed 500 million cards by 2023. This does not take into account other uses of the SmartMetric biometric card for additional markets such as security, identity and access control.
London based research company Goode Intelligence, predicts that there will be over 579 million biometric credit/debit cards in use globally by 2023. Goode Intelligence said this substantial adoption of biometrics for credit and debit cards is being driven by a number of factors including the desire of consumers for safer credit card and debit card transactions.
SmartMetric has developed a credit card that uses the card holders’ fingerprint to activate the credit or debit card prior to it being inserted into a retailer’s credit card reader or ATM. This allows for a full 100% biometric validation of the card user, making the card substantially safer for both the card user and the card issuing bank.
“Using biometrics inside the credit card is something that has taken us over 15 years of R&D but now we find ourselves with arguably the most advanced and exciting biometric solution to fight credit and debit card fraud,” said Chaya Hendrick.
More about RedSys: http://www.redsys.es/en/quienes-somos.html
Follow this link to view the SmartMetric biometric credit card: Using the SmartMetric Card at an ATM Storing your fingerprint on your card SmartMetric Biometric Portable Medical Records Card To view the company website: www.smartmetric.com
Safe Harbor Statement: Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. 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. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.