SmartCard Global Adoption Greater Than 7 Billion Unit Shipments per Year
October 4, 2013 - NEW YORK, NY
SmartMetric, Inc. (OTCQB: SMME) -- Speaking today from New York, SmartMetric Inc. President & CEO Chaya Hendrick said according to a research report published by ABI Research, a provider of analysis and forecasting for global connectivity and emerging technology trends stated in its report released in 2012:
- The top three applications (government ID, payment cards, and SIM) accounted for 88 percent of the total seven billion smart cards shipped in 2011.
- Volumes continued to rise, driven by mobile penetration, ongoing development in the SIM card sector, and the number of countries migrating to EMV.
The SmartMetric, in-card biometrics, is the only fingerprint scanner engineered to fit inside a credit card. Giving the company a clear leadership role in the integration of biometric based authorization for the banking and ID security sectors.
The company is finalizing its next round of funding in order to proceed with mass production of its fingerprint activated cards. SmartMetric is building out manufacturing capacity to produce 50 million biometric activated cards in the first year.
Regarding the company's legal claim against Visa and MasterCard for alleged patent infringement, the company's legal counsel is viewing the Court's latest ruling positively in while the Court issued a ruling of non-infringement by Visa and MasterCard, the very ruling itself gives more than a number of winnable grounds of appeal. Factual and legal error was made that is very reversible according to the company's highly experienced patent infringement lawyers.
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Safe Harbor Statement 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.
Ms. Chaya C. Hendrick
President & CEO