NEW YORK, NY — (Marketwired) — 04/15/15 — SmartMetric, Inc. (OTCQB: SMME) SmartMetric, using its in-card biometric fingerprint reader, has developed an NFC contactless chip that is activated following a positive fingerprint match by the card user.
NFC stands for Near Field Communication and is the standard method adopted in the payment industry to allow for wireless contactless credit or debit card transactions. Many credit and debit cards have already installed NFC chips, however, they have presented a serious security risk since anyone with a simple scanner in close proximity can steal the card owners– credit or debit card information.
In order to protect users– card information from wireless theft, SmartMetric has developed a card whose wireless transmission only takes place after a positive fingerprint match by the card holder. “This is a tremendous leap in using biometrics to secure payments cards,” SmartMetric–s President & CEO Chaya Hendrick said today.
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