SmartMetric, Inc. (OTC: SMME) highlights the growing importance of credit card security in a digital transaction era. While traditional credit cards offer convenience, they are increasingly vulnerable to fraud and theft. Enter a new generation of fingerprint biometric-activated credit cards, which provide a significantly safer alternative by leveraging advanced technology to enhance both security and user experience.
1. Enhanced Security through Biometric Authentication
The primary advantage of fingerprint biometric credit cards is their use of biometric data for transaction authorization. Unlike traditional cards that rely on PINs or signatures, these cards require the cardholder’s fingerprint to complete transactions. Since fingerprints are unique to each individual, this system ensures that only the card’s rightful owner can use it, offering a much harder-to-bypass security layer compared to conventional methods.
2. Reduction in Fraudulent Activities
Traditional credit cards are susceptible to various forms of fraud, including skimming and cloning. Even if a biometric card is stolen, the thief cannot use it without the cardholder’s fingerprint. This significantly reduces the likelihood of fraud. Furthermore, because biometric data is difficult to replicate, the risk of counterfeit cards is greatly diminished, providing consumers with greater peace of mind.
3. Convenience without Compromising Security
Biometric credit cards combine security with convenience. Users can authorize transactions quickly and securely with a fingerprint scan, eliminating the need to remember or enter a PIN. This process is not only faster but also reduces the risk of someone stealing your PIN—a common problem with traditional cards.
4. Elimination of Card Sharing Risks
Regular credit cards are vulnerable to unauthorized use, including card sharing. Biometric cards eliminate this risk, as they are linked to the cardholder’s unique biometric data, ensuring that only the authorized user can access the card’s functionality.
5. Advanced Anti-Tampering Features
These biometric cards come with advanced anti-tampering features. If tampering with the biometric sensor is detected, the card can automatically deactivate or alert the issuer, adding an extra layer of protection against potential security breaches.
6. No Need for External Power Sources
Despite their advanced technology, biometric credit cards do not require external power sources. They are powered by the card reader itself, ensuring they function seamlessly while providing enhanced security features.
7. Improved Data Privacy
Biometric credit cards prioritize data privacy by storing fingerprint data locally on the card rather than in a central database. This reduces the risk of data breaches, as hackers cannot access or misuse the cardholder’s biometric information even if they breach the issuer’s systems.
SmartMetric’s innovation includes a miniature nano fingerprint scanner embedded within the card, which scans the cardholder’s fingerprint in under a second. The card activates only after a 100% match with the pre-stored encrypted fingerprint.
After over a decade of development and overcoming supply chain challenges during the pandemic, SmartMetric has completed the manufacturing of its advanced biometric card.
“Integrating new advances like live fingerprint detection into our biometric scanner has been a lengthy process, but we are thrilled to reach this milestone,” said Chaya Hendrick, President and CEO of SmartMetric. “Our fingerprint-activated card is unique as it includes a rechargeable battery, making it compatible with all types of credit card readers, including contactless and ATMs. It also features a hardware solution that detects live fingerprints, thwarting attempts with fake fingerprints.”
