675 Mn Chip Cards Issued In US As Of Q4, 2016
OREANDA-NEWS. November 09, 2017. SmartMetric, Inc. (OTCQB:SMME) – SmartMetric, the developer of the biometric fingerprint activated credit card, welcomes the growth of the “EMV” chip card adoption in the United States. According to figures released by EMVco, a card industry standards body, more than 675 million chip cards have been issued in the United States as of the last quarter of 2016.
The SmartMetric biometric fingerprint technology is used inside credit cards with the EMV* chip that are commonly referred to as “chip cards”. With a super miniature fingerprint scanner embedded inside the credit card, a person’s fingerprint is used to turn on their credit card as they reach across to insert their card into a standard ATM or Retail Card Reader called in the industry a Point Of Sale reader. Because the SmartMetric Biometric Card is designed to operate on existing credit card readers and ATM’s, no added equipment or systems changes are required within the credit card payment system for a Bank to commence biometric card issuance to its customers.
Layering biometrics into existing chip based credit cards is a giant leap forward in credit card security for both card issuing banks and of course the consumer, who are both impacted by the ever-increasing incidence of credit card and identity fraud, said SmartMetric’s President and CEO Chaya Hendrick, today.
SmartMetric presented its latest biometric card, that is as thin as a standard credit card, at the recent Money 20/20 conference in Las Vegas. The company has developed both a biometric fingerprint activated card as well as a multi-function physical, logical access and identity biometric activated card.
“We are seeing a lot of interest from both the security sector as well as the banking sector. We have now turned a corner particularly in the Banking industry where it is being acknowledged that the SmartMetric biometric card technology pioneered by SmartMetric is the next logical step in providing stronger payments card security," said Chaya Hendrick.
SmartMetric has the capacity to build 1 million cards a month with the ability to scale this up quickly.*EMV is a registered trade mark of EMVco. Source: https://www.emvco.com/about/deployment-statistics/