June 8, 2012 -
SmartMetric recently announced that it has received additional funding from private investors. Another million dollars will be added into the company chest to help fund its expansion projects in Buenos Aires.
SmartMetric uses the latest in sub micro technology that has allowed it to miniaturize the technology used in its Biometric Card Computer product. Together with the Biometric Fingerprint in-card scanning technology, it will essentially change the way business transactions are made along with how information is handled.
The completion of the production facilities in Buenos Aires also includes the installation of robotic assembly equipment. This is the final step in the company’s goal to enhance its manufacturing of fingerprint activated EMV cards.
“With the recent Appeals Court ruling on the SmartMetric Patent Law Suit against Visa and MasterCard favoring SmartMetric on EMV contact cards, SmartMetric is in a position to corner the market on nearly every EMV credit or debit card issued and to be issued in the U.S. — already 1.5 million — as well as new business opportunities worldwide,” said Chaya Hendrick, President & CEO, SmartMetric.
The SmartMetric EMV card combines both a smart card chip and biometrics. This makes it more secure when compared to the average chip and PIN cards being issued today. The market for the chip and Biometric smart card is huge and the size continues to grow.