SmartMetric’s biometric credit card carries great potential for the EMV market

The importance of EMV chip cards is being felt more and more every day as they keep on revolutionizing the payment and identity industry globally. SmartMetric states that its biometric credit cards carry a huge market potential for application and use in various spheres of life and transactions.


SmartMetric’s launches a revolutionary biometric credit card

SmartMetric has brought forward a revolutionary biometric payment card solution that is meant to facilitate transactions. The Biometric Credit Card uses the fingerprint scanner inside the biometric card to ensure that the credit card is locked or unlocked before it is inserted into an ATM machine or a Point of Sale reader.

What did SmartMetric create?

SmartMetric is the creator and developer of the famous biometric credit card. Having spent more than a decade in improving on a fingerprint scanner that is at the same time functional and of miniature size, this biometric credit card consists of an inbuilt rechargeable battery with a scan and match function. This fingerprint scanner operates instantly “prior” to the card’s insertion into the card reader or ATM.

Fingerprints can easily activate the EMV security

According to the company SmartMetric, the Biometric Credit Card also offers the ability of scanning and matching any user’s fingerprint and activating the EMV security feature within a quarter of a second. The CEO of SmartMetric, Chaya Hendrick explains that “This is all done with an incredibly thin motherboard with equally incredibly thin electronic components allowing a fully functional fingerprint scanner to sit inside a standard thickness credit card”.

Biometric credit cards have been issued on the market

As the EMV market grows in terms of popularity, there is a high probability for the adoption of biometric cards in the near future. According to SmartMetric’s “industry official figures”, EMV chip cards are already operational on the market. There are currently over 6 billion EMV chip cards that are functional and currently in use globally. These biometric cards are being issued by various credit card companies, as well as banks. In fact, the credit cards of SmartMetric also contain an integrated EMV chip that is suitable for similar transactions and uses.

SmartMetric’s credit cards offer various advantages

The biometric credit card is essentially based on the card activation technology and the inbuilt card biometric validation component. They have been designed meticulously to address the increasing need for cybersecurity and identity validation. SmartMetric’s credit cards carry several features including network access control, on-the-spot identity verification, and physical building entry. As an advanced payment solution, this biometric card simultaneously ensures cybersecurity while providing access to buildings, doorways or for identification purposes at security desks. All of these can be achieved simply through SmartMetric’s credit-size card.

Biometric security cards are portable and compatible

Chaya Hendrick notes that at the pace that our world is evolving, whether it is in the government or at the workplace, “everyone is wanting better, stronger security across the enterprise”. He explains that SmartMetric’s “new biometric multifunction security card provides a revolutionary biometric-based solution that is portable, easily integrated and backward compatible with existing backend security infrastructure”. Indeed, this biometric security card is not only a leap forward in the cyber world but also a step ahead to ensure safe and secure transactions for the general public.

The increasing demand for biometric cards

Biometric cards are in high demand, especially in the access management market. A recent research reveals that from 2016 to 2021, this aspect of the global economy is estimated to grow from USD 8.09 billion to USD 14.82 billion. Since SmartMetric’s biometric card is an ideal solution, the company is currently assessing several distribution partnerships with other businesses in the Security and Identity market which would allow a rapid and global adoption of the new credit cards. Chaya Hendrick further adds that at the moment, SmartMetric is “finalizing key distributors in strategic locations around the world”. The company also claims that it is ready to increase its production levels from its present quantity which is currently levelled at around a million of biometric credit cards per month to the increasing demand rate.

Article published in EMV and Smart Payment Cards :

 

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