NEW YORK, NY — (Marketwired) — 04/27/15 — SmartMetric, Inc. (OTCQB: SMME) SmartMetric announces that it is now in a position to move forward into mass production of its advanced secure biometric fingerprint activated chip payment cards. This is following recent private equity funding received by the company that has enabled SmartMetric to proceed to this exciting stage of its development.
Lead times for some critical components are being finalised but it is expected that production will be started within the next 60 to 90 days, according to SmartMetric–s President & CEO, Chaya Hendrick.
Many of the components used in the biometric secure payments card are reprocessed by SmartMetric, giving the company the ability to create some of the thinnest silicon components used in consumer electronics.
With a maximum total card thickness of .75mm to meet the ISO standard for credit cards, the company has had to engineer components such as its Cortex processor, memory and power management components in order to achieve thicknesses that will be substantially thinner than the thickness of a credit card. The finished card after plastic lamination will be within the ISO card thickness measurement.
“Creating powerful yet super miniature complex electronics on a very thin circuit board has been a task with its own serious hurdles, but something SmartMetric is proud that it has achieved,” said the company President & CEO.
The SmartMetric biometric payments card uses a person–s fingerprint to activate the chip on the new chip payments cards in use around the world and that are now being issued in the United States. It is estimated that more than 2.6 billion chip cards are currently in use around the world.
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Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.
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