A biometric firm specializing in fintech has created the first-of-its-kind next-generation credit card with a built-in fingerprint reader. The new SmartMetric biometric credit card is designed to help reduce the risk of fraud or financial theft and make using credit and debit cards a safe, secure option, no matter where you shop.
SmartMetric Introduces Next-Gen Credit Card with Built-In Biometric Card
SmartMetric, a technology engineering company specializing in biometric identification, has created the world’s first credit card with a built-in fingerprint reader. The new SmartMetric biometric credit card makes purchasing even safer thanks to an additional layer of security.
The new card has a fingerprint reader built inside that scans the cardholder’s print in under a second. When the reader matches the user’s fingerprint to a pre-stored fingerprint inside of the card is turned on and available for purchases, ATM withdrawals, or other transactions. Instant secure user validation goes beyond using a PIN in protecting the use of a credit or debit card making a transaction.
Here’s a clip of the SmartMetric biometric card in action:
What sets the SmartMetric card apart from others is the internal power source. The addition of an internal power source allows the card’s biometric fingerprint scanner to work anywhere: including ATMs, shops, or even restaurants where the card is taken away from the dining table to be processed.
Unlike other biometric cards, the SmartMetric card does not need the cardholder to go into a bank branch to have their fingerprint stored on their new biometric card. Instead, the SmartMetric Biometric Card allows the card user to enroll their fingerprint when they first receive it at home as simply as when enrolling their fingerprint on a smartphone.
EMV Chips Are Effective Against Fraud – But Not 100%
According to SmartMetric, while the EMV chip on credit cards has proved effective against fraud, it hasn’t been fraud-proof. On the other hand, the new fingerprint sensor adds a layer of security that is extremely difficult to breach.
“When developing the SmartMetric biometric card, we were particularly aware that for its adoption by card issuing banks and consumers, the card would need to work in all real-life situations in which the public uses cards today,” said SmartMetric’s President and CEO Chaya Hendrick, in a release accompanying the news of the launch.
SmartMetric is a USA-based company with sales and marketing partnerships in Latin America, Europe and the United States. Engineering of the biometric card electronics is done in-house and is the owned intellectual property of the company.
Related Article: Half of Americans Store Financial Information Online