SmartMetric’s Biometric Credit Card Closer to Introduction
SmartMetric, a fingerprint activated payment card, is not yet on the market, but a new video on the company’s website shows how the security features work on the card. The biometrics technology embedded into the EMV credit card is designed to ensure that only the cardholder is able to use the card for ATM withdrawals and purchases.
Here is the new product description video:
In the video, a woman swipes her finger across her SmartMetric card before using it at an ATM. This activates the card and allows her to make a withdrawal. After completing the transaction, the woman leaves the card in the ATM and walks away. A man comes up to use the card, but his transaction is denied because he did not swipe beforehand. A similar scenario then happens in a coffee shop, where the cardholder swipes her card just before paying for her drink.
Last month, SmartMetric won a $3 million fee dispute with Visa and MasterCard, with the credit card giants claiming the company had committed copyright infringement. The judge ruled there was not enough evidence to support those claims, and SmartMetric was able to resume its operations.
At that time, Chaya Hendrick, President and CEO of SmartMetric, said, “This is great news for SmartMetric, freeing us now to move forward with our advanced biometric payment and identity card technology without this massive potential cost to the company over our heads.”
The new video shows the company is, in fact, moving forward with its biometric credit card, though there are no official release dates for the card.
This entry was posted in Credit Card News and tagged EMV , identity theft , identity fraud , biometrics , fingerprint identification , biometric technology , EMV credit cards , fingerprint authentication , EMV cards , SmartMetric , Chaya Hendrick , biometric credit card , identity card
The information contained within this article was accurate as of May 13, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.