SmartMetric has announced that it has received clearance to ship its biometric card, which features an inbuilt rechargeable hybrid battery. The card can be used in a variety of scenarios, such as restaurants and ATMs, thanks to its internal power source. Users simply place their finger on the card’s surface, and in less than a second, their fingerprint is read and matched with the cardholder’s fingerprint stored in the card’s encrypted memory. SmartMetric’s president and CEO, Chaya Hendrick, states that this provides a level of credit card security beyond what is currently available.
SmartMetric has made significant progress since it first started developing its biometric credit card over ten years ago. Originally, the electronics in the card were four times thicker than a standard credit card. However, the company has managed to reduce the thickness, including the board and internal battery, to less than one-third of a standard credit card’s thickness. This reduction enables the card to be used across all standard credit card readers at various locations, including stores, gas pumps, and ATMs.
The inclusion of a rechargeable battery is crucial for the card’s usability. Non-powered biometric cards rely on drawing power from card readers, which limits their use and renders them unworkable in most restaurants, gas pumps, and ATMs. Additionally, situations where the card is taken from the table in a restaurant or consumed by a card reading device, like at a gas pump or ATM, make a card without an internal rechargeable battery impractical. SmartMetric has focused on including a rechargeable power source inside the biometric card, along with rapid rechargeability each time the card is inserted into a credit card reader after being activated by the cardholder’s fingerprint.
The latest battery for the SmartMetric biometric card is currently undergoing final licensing and approval for air shipment from the assembly plant. This indicates that the card will soon be available for widespread use.
Market research has shown that a significant number of credit card users are willing to pay $70 for a biometric-secured credit card. This research suggests that banks may consider pricing the card higher. Additionally, the study revealed that a majority of current credit card users would prefer to use a biometric credit card due to the added sense of security it provides.
According to Finder.com, the number of credit card accounts in the United States has reached an all-time high of 564,500,000. The average American owns three credit cards, and the majority of Americans own at least one credit card. Remarkably, 14% of Americans possess at least ten credit cards.
In conclusion, SmartMetric’s biometric card, with its inbuilt rechargeable hybrid battery, allows for enhanced security and usability in various scenarios. With the rising popularity of credit cards in the United States, the demand for biometric-secured credit cards is expected to increase.
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