Biometric credit card developer SmartMetric has announced the completion of a credit card protected with an internal fingerprint biometric scanner.In a statement, the firm said the development has taken 15 years.”This is the culmination of years of research and development resulting in SmartMetric creating an amazingly super thin fully functional fingerprint scanner that fits inside a credit card, said today SmartMetric's President and CEO, Chaya Hendrick.”SmartMetric started development of the card in 2002. It says it was the first company to start down what ended up being a long path, to miniaturize the electronics of a fully functional biometric fingerprint reader that would fit inside a credit card.The card made by SmartMetric had to be self-powered with a rechargeable battery at the insistence of the company's founder and CEO, Chaya Hendrick in order for the card to be able to be used prior to insertion in ATM's and all other types of EMC Chip Card readers.”Other “copy-cat” companies have tried to mimic what we have created but all have failed in making a card that is self-powered, has a rechargeable battery that recharges as the card is used and meets the ISO size and thickness standards of a credit card,” said Chaya Hendrick. “A credit or debit card that can't be used at all retail contact chip readers as well ATM's is not even worth making. We could easily have launched a non-self-powered card many years ago but that would have limited the cards use resulting in a serious negative user adoption of the technology.”According to consumer research commissioned by SmartMetric, of a major brands credit card holders in the United States, nearly 70% would be willing to pay for a biometric credit card that gives better protection against card fraud.SmartMetric sees its new biometric safer credit card as a perfect new card product that Bank card issuers can use to attract new premium customers while attracting high spending technology adopters in all age groups. According to figures in the card industry, premium affluent card holders represent more than 70% of card spend volume in the USA.The SmartMetric biometric secured card has inside, a fingerprint reader that scans and matches a person's fingerprint in less than 0.25 seconds. Following a positive fingerprint verification, the card is only then activated and able to be used. The card also has a rechargeable battery that allows the card to be activated prior to insertion into readers such as credit card readers, ATMs, doorway access and computers.
SmartMetric ‘completes’ biometric credit card
