SmartMetric ships payment card with built-in fingerprint reader
11 May 2007 | 3006 views | 0
SmartMetric, Inc. (Other OTC:SMME.PK), a manufacturer and marketer of tamper-proof identity cards, has introduced the world's first credit card with a built-in fingerprint reader that only allows the owner of the credit card to use it.
The President of SmartMetric, Mr. Colin Hendrick, speaking from SmartMetric's research and development center in Surfside, FL, said, "The SmartMetric Fingerprint activated credit card will protect online users against identity theft while at the same time reducing charge backs and credit card fraud losses for online merchants."
An online buyer's identity is stored inside the card with very high level encryption. Billing and shipping address, credit card number, etc are all encrypted and stored inside the consumer's biometric card. When a person now wants to make a secure purchase online all they have to do is touch the fingerprint sensor on the card's surface and the user's information is then sent encrypted from the card over the internet to the online site. Instantaneously the information is de-encrypted at the trusted online site with the checkout fields such as name and address, credit card number and expiration date filled in automatically. The company says, "This will avoid the buyer's information being stolen by ID thieves. Identity thieves will no longer be able to steal the person's information as they type it in and it is much safer than having the user's information stored in some electronic wallet on a remote central computer that can be hacked."
The online merchants stand to save $100s of millions in fraud since only the owner of the SmartMetric card can use it.
Rather then spending money each year for anti ID theft software or paying for services to let a consumer know that their identity has been stolen, SmartMetric will be offering the consumer for a one-time outlay of under $70.00, its state-of-the-art biometric identity card along with a card adaptor for use with any computer.