March 12, 2016 -
SmartMetric announced that it is moving ahead with licensing and operational testing of its biometric payment card with an unnamed global payments network.
SmartMetric’s biometric payments card fits a fully functional fingerprint reader inside an EMV smart card. The card user rolls their finger across a thin sensor on the card’s surface which is used to read the person’s fingerprint and match it with their fingerprint already stored inside the card.
Following a successful fingerprint match, which is processed inside the card, the card is activated allowing it to be inserted inside a credit card reader or ATM machine. Fingerprint authentication takes less than 0.25 seconds.
“Having presented our card to card issuing banks around the world we are now moving into the stage of preparing our card for interoperability as a credit card on one of the major card payments networks around the world,” said SmartMetric’s President and CEO, Chaya Hendrick. “This is a major step forward in bringing our biometric card to market as we continue to work in cooperation with the existing payments card networks, infrastructure and card issuers.”
SmartMetric will be presenting its biometric payments card at the Smart Card Alliance Payments Summit in Orlando Florida in April.
The Payments Summit covers all things payments including fintech, EMV chip technology, mobile wallets, NFC, contactless and open transit systems.