NEW YORK, March 13, 2018 (GLOBE NEWSWIRE) --
SmartMetric, Inc. (OTCQB:SMME) – Research published, 2017 by the Nilson Report* shows that global credit card fraud has cost more than $22 billion in 2016. To make things worse, ACI Worldwide (an electronic payment systems company) estimates that 46% of Americans have had their card information compromised at some point in the past 5 years.
In addition to the $22 billion loss figure, according to research by LexisNexis*, the LexisNexis Fraud Multiplier SM, which estimates the total amount of loss a business incurs, based on chargebacks, fees, interest, merchandise replacement and redistribution. In 2017, every dollar of fraud to merchants and firms it is estimated to cost $2.66 on average. For organizations selling digital goods and / or primarily transacting through remote channels, the cost is estimated to be even higher, at $3.48 per dollar of fraud, on average.
This accounts for more than two percent of these businesses' annual revenues, according to the research. “Card fraud is without a doubt a serious cost to business and the overall economy today," said Chaya Hendrick, President & CEO of SmartMetric.
The solution for banks and bank customers in combating card fraud is the new SmartMetric Biometric Card. The SmartMetric biometric “anti-fraud” card has a built in nano fingerprint scanner that has been designed from the ground up with both the bank and consumer in mind. The SmartMetric biometric card works with existing credit card payments and transaction infrastructure such as global networks that carry the information between banks and card merchants as well as using existing chip ready point of sale card readers and ATM’s.
SmartMetric is a USA based company that has spent over a decade in research and development to create its leading biometric credit/debit card product. It has a team of advanced engineers in Tel Aviv, Israel and has card assembly manufacturing facilities in various parts of the world. The SmartMetric biometric card technology has been developed solely by SmartMetric, which includes component engineering, electronic, design, motherboard creation and advanced mass small component assembly. The card is powered by a rechargeable battery providing years of card life while employing a very simple biometric fingerprint registration on the card similar to what consumers have become accustomed to with fingerprint recognition smartphones.
SmartMetric biometric cards are available to Banks in the United States through SmartMetric’s distributor, PROTEC Secure Card. PROTEC Secure Card (PSC), based in New Jersey, USA. Contact Tracey Breckenridge at firstname.lastname@example.org.
For sales in South America contact HOGIER GARTNER & CIA S.A. Alvaro Gartner Valencia at email@example.com.
Further details can be obtained from the SmartMetric web site at www.smartmetric.com
*Nilson Report, Oct 2017 | Issue 1118 Card Fraud Worldwide
*2017 LexisNexis® True Cost of FraudSM
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also 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. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
PROTEC Secure Card
80 Corbett Way
Eatontown, NJ 07724
Tel. +1-732-542-0700 x 223 / 221/ 206/ 207 (English)
+1-732-542-0700 x 241 (Spanish)
SOUTH AMERICA REPRESENTATIVE
HOGIER GARTNER & CIA. S.A.
Alvaro Gartner Valencia
Gerente Comercial & Financiero
Carrera 65, No. 80-16
Bogota D.C. 11121, Colombia
Tel: +57. (1) 4378484