SmartMetric, Inc. reports that it has invented and implemented advanced new security features inside its world advanced biometric credit card.
“In order to ensure that only a fingerprint from a real person is being used, we have invented hardware-based live fingerprint detection inside the card, stopping the use of fake fingerprints from tricking the card’s internal fingerprint recognition security,” said SmartMetric’s President and CEO, Chaya Hendrick.
“The live fingerprint detection security innovation built inside the SmartMetric biometric credit card makes it even more secure than biometrics fingerprint detection in today’s most recent mobile phones,” said SmartMetric.
Other security features such as separate storage of the user’s fingerprint in a highly encrypted secure memory in the card that is not exposed to outside hardware connectivity ensure the highest level of the card user’s fingerprint security. No off-card storage or capture of the user’s fingerprint ever takes place with the SmartMetric biometric card system, providing an ultimate level of protection for the card user.
The SmartMetric Gen 4 Biometric Fingerprint Card has been developed to meet the specific demand of the credit card industry and credit card users for enhanced credit card security. The card has an in-the-card nano fingerprint scanner that is used to recognize the card holder’s fingerprint and, upon a fingerprint match, instantly turns on the card.
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“The live fingerprint detection security innovation built inside the SmartMetric biometric credit card makes it even more secure than biometrics fingerprint detection in today’s most recent mobile phones”
The SmartMetric biometric fingerprint-activated card is the only biometric card that allows for instant on-card fingerprint enrollment without the need for a special additional device to capture and enroll a card holder’s fingerprint. This makes the SmartMetric biometric card especially suited for mass credit card issuers who rely on ease of card activation along with their use of mass new card issuance through the mail.
“Enrollment of a new card user’s fingerprint on the SmartMetric biometric credit card is as simple as enrollment of a fingerprint for example as on a mobile phone while actually being even more secure than a mobile phone,” said Chaya Hendrick.
“The mass market version of the SmartMetric Gen 4 biometric credit card is now under manufacture following the successful testing of the card’s internal software operating system with its new internal hardware on the new card platform,” said Chaya Hendrick.
Reports on credit card fraud are continuing to show an exponential growth in fraud rates in the United States. According to a report released this year by Security.org 1 151 million Americans have fallen victim to credit card fraud.
- 65 percent of credit and credit card holders have been fraud victims at some point in their lives, up from 58 percent last year. This equates to about 151 million Americans.
- An increasing number of Americans have been victimized multiple times: in 2022, 44 percent of credit card users reported having two or more fraudulent charges, compared to 35 percent in 2021
Credit Card fraud is a growing issue for both card holders and card issuing banks. The biggest under-the-radar cost to the consumer is the add on fraud crimes that happen following a credit card fraud instance. A growing number of credit card fraud victims also become victims of other identity theft-based crimes which can be financially devastating to card fraud victims, according to SmartMetric.
“The need for a more secure credit and debit card is more needed today than ever before. That is why we have spent well over a decade in research and development to create a work-anywhere-at-anytime biometric-protected credit card,” said SmartMetric’s President & CEO, Chaya Hendrick.
The SmartMetric biometric credit card is the only advanced biometric payments card product with an internal rechargeable battery that allows the card to be used in all card usage cases such as restaurants and ATMs. Having its own power inside the card allows the SmartMetric biometric card to work prior to the card being inserted into a card reader.
The SmartMetric biometric fingerprint recognition technology built inside of the credit and debit card uses embedded biometric technology to positively recognize the card holder and then, only after a positive fingerprint recognition, turn on the card’s EMV contact and contactless payments chip.
According to an article published by Finder.com 2 the number of credit card accounts open in the United States is 564,500,000. This is an all-time high for the United States.
The average American owns three credit cards. 83% of Americans own at least one credit card. 14% of Americans own at least 10 credit cards.
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