It has been reported that Spain is supposedly the first European country that has officially announced the adoption of fingerprint activated biometric credit and debit cards that will not have a mag stripe.
Because of the inherit risk of mag stripes that are easily read and copied, Spain is being reported that card issuing banks will stop using magnetic stripes on their cards and replacing existing credit cards with fingerprint biometrics only cards.
“We have been waiting a long time for this to happen and we are delighted that the banking world is now moving to adopt biometric only credit cards,” said SmartMetric’s President & CEO, Chaya Hendrick.
SmartMetric is positioned to capitalize on this revolutionary change in the banking credit card industry. Having just announced the assembly of its new biometric card that incorporates the company’s latest advancements such as hardware based live fingerprint detection on the card as well as an advanced green hybrid nano rechargeable battery inside the card.
SmartMetric has developed probably the most advanced fingerprint activated biometric credit card in the world and is well positioned to capitalize on what is more than an 11 billion cards global market.
SmartMetric has spent years in research and development to miniaturize the electronics of biometric fingerprint capture, similar to that used in smartphones, to the thickness of less than a quarter thickness of a standard credit card.
The SmartMetric biometric fingerprint activated card is compatible with all existing credit card readers and ATM’s. Since it has its own internal green hybrid green nano battery it works with readers that take into the reader the card such as at ATMs and most new chip card reading gas pumps.
According to figures released by the credit card industry standards body more than 11 billion chip cards have now been issued by financial institutions around the world. The SmartMetric biometric fingerprint inside the card technology works with chip cards.
ABOUT THE SMARTMETRIC BIOMETRIC CARD: Keeping your biometric identity safe is at the center of the design of the SmartMetric biometric card. At no time does a card holder’s fingerprint leave the card. A person’s fingerprint is stored inside the card and matching of the person’s fingerprint is done on the card itself. This was a central design requirement of the SmartMetric biometric card solution that necessitated SmartMetric to create a self-powered inside the card, fully functional fingerprint scanner. Also, so that the card could be used at ATMs and POS (Point Of Sale) card readers the SmartMetric development team created an on card miniature power management system that recharges the card as it is being used in card readers.
