SmartMetric Inc’s (OTCMKTS:SMME) biometric credit card solution gives 100% card user validation before insertion into a credit card retail reader or ATM.
Trading Data
On Friday, SMME stock fell 5.20% to $0.0055 with 3.24 million shares, compared to its average volume of 891k shares. The stock moved within a range of $0.0045 – 0.0060 after opening trade at $0.0059.
The SmartMetric Biometric Credit Card Provides 100% Validation of the Card User Before the Card is Used
The solution’s RFID is used for NFC contactless payments and the fingerprint is stored inside the card. The SmartMetric biometric card does not store the user’s fingerprint on a centralized computer but is stored safely inside the SmartMetric card protected behind an encrypted security system.
When a cardholder first gets the card, it is a simple process to store the fingerprint inside the card. A cardholder needs to just touch the card’s fingerprint sensor a few times and the user’s fingerprint will be permanently stored.
Ease of use, as well as ease of storage, is vital in credit card markets like the US. The largest credit card issuing Banks in the USA give credit cards to cardholders through the mail. One method of inserting the card user’s fingerprint into the card is to come into a bank branch and use a specialized fingerprint reader. This copies the person’s fingerprint and then stores it inside the new card.
SmartMetric President and CEO, Chaya Hendrick said that a simple and secure method for card users to install fingerprints inside the card would enable it to work with large-scale credit card issuers.
Key Quote
“Having a simple and yet highly secure method for a card user to first install their fingerprint inside of the card, that would also work with existing large scale credit card issuers, was of the utmost importance to the electronic design team at SmartMetric,” said SmartMetric President and CEO, Chaya Hendrick.
Technical Data
SMME stock is trading below the 20-Day and 50-Day Moving averages of $0.0072 and $0.0083 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0117.
