SmartMetric has received US approval to ship its biometric card, passing the “last hurdle” in bringing its fingerprint-activated credit card to market.
The SmartMetric biometric credit card is the only advanced biometric payments card with an internal rechargeable battery, which allows the biometric card to function prior to it being inserted into a card reader.
This means the card can be used in use cases where the card is inserted completely into the reader, such as at an ATM, or in a restaurant, where the card is taken away from the table.
Card users place a finger on the surface of the card. The card then reads their fingerprint and matches it with the cardholders’ fingerprint, which is permanently stored in its internal encrypted memory.
The battery inside the card recharges each time the card is inserted inside a credit card reader, after it has been turned on by the cardholder’s fingerprint.
Chaya Hendrick, SmartMetric’s president and CEO, said: “Only the legitimate cardholder is able to turn on the card, providing a level of credit card security way beyond existing credit cards.
“We are very excited to have now overcome this last remaining hurdle to bring our advanced biometric fingerprint-activated card to market.”
SmartMetric’s announcement follows research from the Information Services Group (ISG) that found technology is key to customers’ experience and that more banks are using technology to deliver optimized user experiences. It said banks are increasingly viewing data, automation and AI as crucial to providing seamless, personalized customer experiences.
Earlier this month, Ally Financial expanded its technological offerings with the launch of an artificial intelligence (AI) platform aimed at improving its internal processes and enhancing its banking services.