SmartMetric (OTCMKTS:SMME) has developed a cutting-edge biometric activated credit/debit card that uses the card holders’ fingerprint to turn on the card before it is inserted into a card reader or ATM. The chip won’t work in a typical contact or contactless credit card reader or ATM without the cardholder’s fingerprint first being scanned and matched (it will be already stored in the card).
Market Reaction
On Tuesday, SMME stock ended flat at $0.0082 with 2 shares, compared to its average volume of 1 million shares. The stock moved within a range of $0.0082 – 0.0082 after opening trade at $0.0082.
Cards that have both contact function (putting the card into a physical slot) and contactless function (card is read via RFID), are called dual interface cards. SmartMetric has created a dual interface biometric fingerprint activated “dual interface” card that can be easily used across all credit and debit card reader types. It takes less than a quarter of a second to scan and match the user’s fingerprint.
When used in contactless mode, the SmartMetric card harvests power from the RFID electronic field being emitted from the card reader. This energy powers the internal processer of the card used to perform the rapid sub one second biometric fingerprint match. Excess power is harvested wirelessly to recharge the cards internal battery. If the card is inserted into a standard credit/debit card reader or ATM, it draws power directly from the card reader, thus powering up the internal battery. This battery is used to power a fingerprint scan by the card prior to its insertion into the card reader or ATM.
This dual interface card takes security to a whole other level, where we don’t have to depend upon less secure PIN numbers anymore!
Traders Review
SMME stock is trading below the 20-Day and 50-Day Moving averages of $0.0087 and $0.0088 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0120.
