The company announced that the card — a self-powered, rechargeable battery card that uses the user’s fingerprint to activate the payment card’s EMV chip — will soon roll out in the U.S. and across Europe. The announcement confirmed that the company is following the timeframe projected for the release of the card, which should be within the next 60 days.
“We are extremely excited about the incredible prospects for the company with our biometric secure EMV chip payments card product and are prepared to capitalize on the substantial existing global market of over 3.4 billion issued EMV chip cards in use around the world,” said SmartMetric’s President and CEO Chaya Hendrick.
SmartMetric said it has received interest from financial institutions that may look to leverage technology — particularly as it relates to its ability to reduce card fraud and provide an extra layer of protection against identity theft.
The research and development for SmartMetric’s biometric payments card has led to a project that’s been in the works for years, but the company said the biggest hurdle was the “physical size of components” of the card.
“What we have done is scale down components such as our Cortex processor and memory along with the power management system to a thickness less than a third the height of a standard credit card. This in itself is a phenomenal achievement in the field of electronics,” Hendrick said.
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