SmartMetric manufacturing new biometric credit card

Jul 16, 2018, 11:40 am EDT | Stephen Mayhew

SmartMetric revealed that it is now manufacturing a new biometric credit card that has been designed to protect online transactions by building on the company’s advanced, “inside-the-card” miniature fingerprint scanner.

The SmartMetric biometric credit/debit card is designed specifically for use with chip cards. Inside the SmartMetric biometric card is a fully functional fingerprint scanner that uses the cardholder’s pre-stored fingerprint inside the card to match and then activate the card.

“The SmartMetric solution to fight online CNP (card-not-present) card fraud uses the power of its biometric technology platform in a simple and effective solution that doesn’t require changes to existing processing methods or payments infrastructure,” explains SmartMetric’s President & CEO, Chaya Hendrick. “Further our biometric card solution can be used effectively with debit cards as well as credit cards.”

Juniper Research research from last year forecast that retailers could lose $71 billion globally from fraudulent CNP transactions over the next five years.

SmartMetric has also created a multi-function combined cyber network access card, identity card and doorway building access card based on the company’s advanced miniature biometric fingerprint scanner technology inside the credit card sized card. In May a major university in Buenos Aires, Argentina placed an order for them through the company’s new security card distributor Grupo Datco.