SmartMetric, Inc. (OTCQB: SMME) reports that final manufacturing of its Biometric Credit/Debit card has now commenced after being delayed due to supply line issues.
Why? SmartMetric partners with Redsys:
SmartMetric, Inc. (OTCQB: SMME) entered into a manufacturing agreement with ServiRed to incorporate the Advantis EMV Chip and Chip Card Operating System into the SmartMetric biometric fingerprint activated credit cards. Following the signing of the agreement with ServiRed, Redsys with the Advantis chip, operating system technology and business unit was acquired from ServiRed through company succession.
ServiRed and Redsys with its now Advantis business unit, while being separate legal business entities, have many of the same shareholders. Some of the largest Global Banks are shareholders of Redsys and use the Advantis Chip and Operating system on their credit and debit cards. The original license agreement between SmartMetric and ServiRed for SmartMetric to make a joint biometric credit card using the Advantis Chip and Operating System has been assigned to Redsys who is now the legal entity that owns the Advantis business unit.
Smartmetric announces agreement with Redsys to manufacture biometric financial cards with the EMV Advantis chip.
SMME is listed as a PARTNER on the Advantis site under card manufacturer:
We know Advantis works with over 500 banking organizations worldwide with over 1.4 Billion cards including the Advantis chip and operating system issued to clients such as HSBC, Santander, BBVA and many others globally.
According to Goode Intelligence research, an independent, respected industry research company founded by Alan Goode in 2007 and headquartered in London, consumers would like to use cards in contactless mode for higher value transactions. Biometric payment cards offer improved security by removing the PIN while allowing frictionless payments for higher value transactions. Goode believes there is a significant market for biometric cards and forecasts over 579 Million cards will be in use worldwide by 2023, over 500 Million! This is a staggering forecast for a company like SmartMetric(SMME) that could gain 50% market share due to its superior product in this space all while being the leading biometric card manufacturer. That is 250 Million cards in a mere 4 Years which would equate to 12.5 Billion in sales……12.5 Billion! No other company has a Biometric card that is self-powered and works in all credit and debit card readers.
Goode intelligence specializes in digital identity, authentication and biometric technology across a wide range of vertical sectors and provides quality advice to global decision makers in business and technology.
There should be no question of will this happen based on everything that has been made public, but when? To implement this with all the banks and integrate it into their technology we estimate 2 – 6 Months. Considering we are into this agreement already SmartMetric (SMME) should be ringing the register easily this year and well into the future!
For more info on SmartMetric (SMME): https://www.smartmetric.com/
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