The SmartMetric biometric credit card is protected by patents issued against copycat cats

NEW YORK–(BUSINESS WIRE)–The SmartMetric, Inc. (OTCQB: SMME) biometric credit card, invented by SmartMetric founder and CEO Chaya Hendrick, is protected from copying by other manufacturers by issued patents.

Patents are powerful in protecting original inventors from people or companies who attempt to copy an inventor’s invention. The Founding Fathers of the United States saw the economic advantage and the need to protect inventors’ inventions that the protection of inventors’ inventions is part of the American constitution.

Chaya Hendrick, CEO and President of SmartMetric, is the original inventor of credit cards with biometric fingerprint technology built into a credit card. As an original inventor, she received various patents from the United States Patent Office protecting her inventions from anyone who would seek to copy her inventions.

SmartMetric has received an exclusive license from Chaya Hendrick to develop biometric fingerprint card products based on its patents.

What the SmartMetric-licensed biometric patents mean for SmartMetric is that any company seeking to produce or issue a biometric fingerprint credit card with, among other card-like products, will be prevented from doing so at United States.

“The issued patents give SmartMetric exclusivity, particularly in the US market, from copies of Cats products,” said Chaya Hendrick, president and CEO of SmartMetric.

A few European-based companies have taken to copying and infringing the patented SmartMetric biometric product. These companies will not be able to sell their copycat products in the US market. Any bank or card issuer wishing to issue biometric credit cards to their customers will be required by US patent law to purchase such cards from SmartMetric.

The product exclusivity granted to SmartMetric will be enforced by the company against any company that attempts to introduce a copycat biometric card product into the United States. Using the Federal Trade Commission, copiers will be stopped at the border according to the president and CEO of SmartMetric.

The SmartMetric fingerprint-enabled biometric credit card hits the market in light of alarming figures showing that businesses are suffering monumental losses due to online and checkout fraud. What is so alarming is that the growth rate of online fraud for merchants is in the triple digits, with losses for chargebacks alone estimated at $30 billion in the United States.

Chargebacks are where the credit card user, among other things, denies making the card purchase or says they never received the goods. An estimated 86% of these $30 billion in “chargebacks” or, to be more precise, transaction reversals, are based on fraudulent misrepresentation by the card user.

“The use of the SmartMetric Biometric Credit Card which only allows the legal cardholder to use the card, protects card users, merchants, card processors and card issuing banks with biometric technology from integrated credit card tip,” said Chaya Hendrick, President and CEO of SmartMetric today.

The SmartMetric biometric credit and debit card developed by SmartMetric uses the cardholder’s fingerprint which is read by a Nano fingerprint scanner inside the card, to activate the card before insertion. in the card reader or ATM. The cardholder’s biometrics are protected since their fingerprint is stored inside their card and never leaves it. Only the authorized holder of the SmartMetric biometric credit and debit card can use the card.

“The use of the SmartMetric Biometric Credit Card which only allows the legal cardholder to use the card, protects card users, merchants, card processors and banks with advanced biometric technology integrated into the card,” Chaya Hendrick said.

Further information about the SmartMetric biometric credit card is available on the company’s website at

The figures used come from:

Safe Harbor Statement: The forward-looking statements contained 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. In addition, 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 such forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expect”, “intend”, “plan”, “seek”, “anticipate” , “believe”, “estimate”, “predict”, “potential”, “continue”, “probable”, “should”, “would” and variations of these similar terms and expressions, or the negative of these terms or expressions similar. These forward-looking statements are necessarily based on estimates and assumptions that, although considered reasonable by us and our management, are inherently uncertain. Factors that could 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 growth plans; changes in the competitive environment of our industry and the markets in which we operate; our ability to access capital markets; and other risks discussed in the Company’s filings with the United States Securities and Exchange Commission, including our Annual Report on Form 10-K, which documents are available from the SEC. We caution you not to place undue reliance on forward-looking statements, which are made as of the date of this press release. We undertake no obligation to publicly update any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting the forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no conclusion should be drawn that we will make additional updates with respect to such or other forward-looking statements. Investors and security holders are urged to carefully review and review each of SmartMetric Inc.’s public filings with the SEC, including, but not limited to, where applicable, annual form reports. 10-K, proxy statements, Current Reports on Form 8-K, and Quarterly Reports on Form 10-Q.

Comments are closed.