In the realm of financial technology, the constant quest for improved security and efficiency has led to remarkable innovations. Today, we highlight one such groundbreaking development: SmartMetric, Inc.’s (OTC: SMME) biometric fingerprint activated credit cards. After dedicating over a decade to research and development, the company is finally gearing up to introduce its unique solution to the market, setting an unprecedented standard in credit card security.
The global card market, which issues over 11 billion units, has witnessed several companies attempting to mimic SmartMetric’s technology. Yet, none of these so-called ‘copycats’ can match the features and functionality of the SmartMetric card. One key reason lies in the proprietary self-powered system that SmartMetric has integrated into its card.
Unlike the competition, the SmartMetric biometric card doesn’t rely on card reader power to function, thus eliminating the necessity for the user to hold the card at the reader for a fingerprint scan. This distinct edge allows the card to be used universally, including at restaurants and ATMs where the card isn’t within the user’s immediate reach.
As if these competitive advantages weren’t enough, SmartMetric has further secured its position through patent protection. Through strategic foresight, SmartMetric’s founder and inventor, Chaya Hendrick, has been granted patents from the United States Patent Office, effectively blocking competitors from selling any similar biometric cards in the U.S.
In essence, SmartMetric has shielded itself from competition, maintaining a product monopoly in the U.S. for fingerprint-activated biometric credit cards. The issued design patents cover a wide array of fingerprint sensor shapes that can be placed anywhere on the card, making it impossible for any other company to introduce a similar card within the U.S.
Given the ease of enforcing design patents, SmartMetric finds itself in an advantageous position. As Chaya Hendrick eloquently puts it, all the company needs to do to enforce these patents is to approach the relevant Government department to have competitors’ cards seized at port of entry or within any U.S. office or warehouse.
As the company readies its final product for market release, it is currently undergoing rigorous QC testing for its biometric card hardware, internal software, and embedded operating system. The goal is to ensure that the product, which is eagerly anticipated by many banks, will be fail-safe once live.
The immense potential of SmartMetric’s biometric cards is evident in recent independent research. Almost 70% of existing credit cardholders would willingly pay $70 for a biometric secured credit card to bolster their protection against fraud. Given that 84% of U.S. adults possessed a credit card in 2021, and the total number of credit card users reached 166 million in Q4 2022, the scope for SmartMetric’s biometric cards is vast.
In conclusion, with its sophisticated, self-powered biometric cards and a fortress of design patents, SmartMetric appears to have positioned itself for unparalleled dominance in the biometric credit card market. As it prepares to introduce its revolutionary product to one of the world’s largest credit card brands and networks, it’s worth keeping a keen eye on SmartMetric’s exciting journey. As investors, we look forward to the company capitalizing on its monopoly and capturing a sizable portion of the massive credit card market.
To view the SmartMetric Biometric Card please follow this link – Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com
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