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SmartMetric Welcomes Latest Research Report That Forecasts 579 Million Biometric Payment Cards In Use By 2023

SmartMetric, Inc. (OTCQB: SMME) - Research firm Goode Intelligence * predicts that there will be over 2.6 billion biometric payment users by 2023. Goode Intelligence, said the use of biometrics is being driven by a number of factors including:

  • Desire for frictionless authentication while paying in all channels
  • The need to reduce payment fraud
  • Industry and state regulation
  • Technology standardization

One particular area of card payments that will benefit the most from biometric authentication on the card, is contactless payment cards. Because contactless payments are inherently less secure than contact cards that are physically inserted in card readers, contactless cards have very low transaction ceiling limitations. This has impeded the adoption of contactless card payments beyond the coffee shop and other low value transactions. With the inclusion of biometric authentication such as that developed by SmartMetric, what was a less secure platform becomes a solid as steel secure transaction medium, said SmartMetric’s President and CEO, Chaya Hendrick.

Contactless card payments are seeing significant growth in regions that support them. For example, the United Kingdom has embraced contactless card technology with contactless payment cards now overtaking contact cards for physical retail payments. Contactless card payments are even outperforming mobile in many regions. Many consumers prefer to use a contactless payment card over a mobile payment equivalent and according to Goode Intelligence research, would like to use cards in contactless mode for higher value transactions.

Biometric payment cards not only offer improved security by removing the PIN but also allow frictionless payments for higher value transactions. Goode Intelligence reports that there is a significant market opportunity for biometric payment cards and forecasts that by 2023 there will be almost 579 million biometric payment cards in use around the world.

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.

“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.

Follow these links 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

*Goode Intelligence forecasts 579 million biometric payment cards will be in use

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.

Contacts:

SmartMetric, Inc.
Head Office
3960 Howard Hughes Parkway,
Suite 500
Las Vegas, NV 89169
+1.702.990.3687
Chaya Hendrick
chaya@smartmetric.com
www.smartmetric.com
or
Investor Relations
Everest Corporate Advisors, Inc.
Steffan Dalsgard
+1.702.334.7791
+1.415.250.0105

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