Stock Markets
SmartMetric Says up to 86% of Consumers Are Interested in Using Biometric Technology on Credit Cards to Make More Secure Payments “ but It Must Be Easy to Enroll and Work in All Card Transaction Poi
NEW YORK–(BUSINESS WIRE)–SmartMetric, Inc. (OTC: SMME), according to Visa (NYSE:), amongst the surveyed American consumers in 2017, 65.0% of the consumers were familiar with biometrics and almost 86.0% of the consumers were interested in making use of biometrics to verify identity and make payments. 1
Unfortunately for consumers, a few premature and ill thought-through rollouts of biometric credit cards in Europe have met with consumer resistance. It is not because consumers are not interested in enhanced credit card security using biometric technology built inside the card, but rather the cards used in these trials failed to make the experience simple and frictionless for the card user.
First point of resistance is that card users needed to go into a bank and use a fingerprint scanner in the bank to register their fingerprint on the biometric card. This in a day and age when consumers hardly ever visit a bank branch, including receiving their credit cards via mail. The strange thing is that banking is done on mobile phones that may or may not use biometrics, but if biometrics is used, it is very simple for a consumer to register their fingerprint on their phone. No need to visit a bank branch and give your fingerprint to the bank.
In making enrollment of a person’s fingerprint onto their biometric card requiring a visit to a bank made such trials ready to fail from the beginning, said SmartMetric’s President and CEO, Chaya Hendrick.
Another failure point was the fact that a person needed to hold their card inside a reader, since these biometric trial cards did not have their own internal power, but rather used the power of the card reader to power the on-card fingerprint matching process.
The biggest problem with card reader power-dependent cards is that in many situations the card reader requires full insertion into the reader, thereby not allowing the card holder to hold the card;s fingerprint sensor to perform an on-card fingerprint scan, making such non-powered cards unusable in many credit card use situations, said Chaya Hendrick.
The SmartMetric biometric card solves all these issues. Having its own internal rechargeable battery, it allows the card to work at home for initial secure fingerprint enrollment. As simple as enrolling your fingerprint on a smartphone. As well as being self-powered, the card scans the user’s fingerprint prior to being inserted into a reader, allowing the card to be used at any credit card reader. The card user simply touches the card’s fingerprint sensor and instantly the fingerprint is scanned and matched, which in turn activates the card’s contact and contactless NFC chip.
The global biometric payment cards market size was valued at USD 74.4 million in 2021.
It is projected to reach USD 5.8 Billion by 2030, growing at a CAGR of 62.50% during the forecast period (2022“2030).2
We at SmartMetric are excited about the future substantial growth and demand for credit and debit cards that have built inside biometric fingerprint detection and activation, such as what we have created, said SmartMetric’s President and CEO, Chaya Hendrick.
The SmartMetric biometric fingerprint scanning credit card is unique in the world, in that it is the first and only such card that has an inbuilt rechargeable battery, allowing the card to be used at any type of credit card reader, including contactless and A™ readers.
Inside the card is also a hardware engineered solution that senses when an actual live fingerprint is used on the card that foils fake fingerprints from thieves.
Our amazing fingerprint activated biometric credit card is years ahead of anyone else, and will provide a quantum leap in anti-credit card fraud for banks and consumers alike, said Chaya Hendrick.
A fingerprint scan credit card is a type of biometric card that uses a built-in fingerprint scanner to verify the identity of the cardholder when they try to make a payment. This technology is designed to enhance the security and convenience of credit card transactions, especially for contactless payments, as well as standard contact payments and A™ transactions.
It has taken years of research and development to perfect the internal power system within the SmartMetric finger scan card. Millions of dollars in research and development have been invested to create the only card of its kind in the world that will work at all card readers. A card that is simple to download your fingerprint into the card at home without the fear and inconvenience of going somewhere else to have your fingerprint scanned and stored into the card.
The SmartMetric fingerprint scanner inside the card is light years ahead, and brings the reality of full biometric security technology to the ubiquitous credit and debit card world.
Credit cards still dominate the way consumer make payments. Non-credit card payments such as phones account for less than 5% of payment transactions, while the majority of transactions are done using either a credit or debit card.
According to a report published by Forbes Adviser on March 9, 2023, Over the past year, nearly half the population (47.5%) opened at least one new account, bringing the total number of accounts to over 518 million by the end of 2022.3
1 Biometric Payment Cards Market Size Report, 2022 – 2030 (grandviewresearch.com)
2 Biometric Payment Cards Market Trends, Share, Size, Growth, Forecast 2030 (straitsresearch.com)
3 Credit Card Statistics And Trends 2024 “ Forbes Advisor
Safe Harbor Statement: Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Also such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, if we are unable to access the capital necessary to fund current operations or implement our plans for growth; changes in the competitive environment in our industry and the markets where we operate; our ability to access the capital markets; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K, which filings are available from the SEC. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Investors and security holders are urged to carefully review and consider each of SmartMetric Inc. public filings with the SEC, including but not limited to, if applicable, Annual Reports on Form 10-K, proxy statements, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240802432773/en/
SmartMetric, Inc.
Chaya Hendrick
Tel: (702) 990-3687
Mobile: (305) 607-3910 (Pacific Time)
ceo@smartmetric.com
www.smartmetric.com
Source: SmartMetric, Inc.
In a turbulent market environment, Sobr Safe Inc. (SOBR) has experienced a significant downturn, with its stock price touching a 52-week low of $0.09. This latest price level reflects a stark contrast from its previous performance, marking a drastic 1-year change with a decline of -92.06%. Investors have been closely monitoring the company’s trajectory as it navigates through the prevailing economic headwinds that have impacted its market valuation. The steep drop in Sobr Safe’s stock price over the past year has raised concerns among stakeholders about the company’s future prospects and the broader implications for its industry segment.
In other recent news, SOBR Safe, Inc. has been focusing on its financial health and product expansion. The company launched a comprehensive campaign for its non-invasive alcohol detection technology, SOBRsafe™, targeting behavioral health providers. The initiative is expected to reach over 45,000 decision-makers and garner more than 4,000,000 views within a year.
SOBR Safe has also been granted an extension by the Nasdaq Hearings Panel to meet the Nasdaq’s listing requirements. The company, which was previously at risk of delisting, now has until October 23, 2024, to regain compliance with the minimum bid price and stockholders’ equity rules. As part of its efforts to improve its financial position, SOBR Safe secured approximately $2.8 million in gross proceeds through the full exercise of outstanding warrants and debt conversion, eliminating $2.6 million in debt.
In a recent Special Stockholder Meeting, shareholders approved the issuance of up to 20,638,326 shares of common stock upon the exercise of a warrant. This move allows the company to issue additional shares, potentially diluting current ownership percentages. Additionally, SOBR Safe expanded its product portfolio by selling its SOBRcheck and SOBRsure devices to Lake Erie Interlock, Inc., marking an expansion of their alcohol detection technology services in Ohio. These recent developments are part of SOBR Safe’s ongoing efforts to improve its financial health and continue its listing on the Nasdaq.
InvestingPro Insights
In light of Sobr Safe Inc.’s (SOBR) recent stock performance, a glance at the latest InvestingPro data and tips may offer investors additional context. Despite the stock’s considerable decline, with a one-year price total return of -91.18%, InvestingPro Tips suggest that analysts anticipate sales growth in the current year. This could indicate potential for a turnaround, despite the company’s challenges. Additionally, SOBR holds more cash than debt on its balance sheet, which may provide some financial stability in these uncertain times.
From a valuation perspective, Sobr Safe Inc. has a market capitalization of just $3.31 million, with a Price/Book ratio as of Q2 2024 at 0.95, possibly signaling that the stock is trading close to its net asset value. Moreover, the company has seen revenue growth of 47.72% over the last twelve months as of Q2 2024, which could be a positive sign for investors looking for growth potential in small-cap companies.
For those seeking more detailed analysis, there are additional InvestingPro Tips available, offering deeper insights into Sobr Safe’s financial health and market position. To explore these further, investors can visit https://www.investing.com/pro/SOBR for a comprehensive set of tips and metrics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Tom Sims and Christian Kraemer
FRANKFURT (Reuters) -Germany will not sell any more shares in Commerzbank (ETR:) for now and the bank’s strategy is “geared towards independence,” the country’s Finance Agency said on Friday, in the clearest sign yet that the government doesn’t currently favour a takeover of the nation’s No. 2 lender.
The statement comes days after Italian bank UniCredit announced it had swooped in to buy a 9% stake in Commerzbank to become its second largest shareholder, and its Chief Executive Andrea Orcel signalled his merger ambitions.
But UniCredit’s move – a deal codenamed ‘Flash’ after Orcel’s dog – took Berlin by surprise and triggered opposition from labour unions and a defence strategy from Commerzbank.
The German government, which still owns 12% of Commerzbank after selling 4.5% of its shares to UniCredit, would play a key role in whether any deal can take place.
However, over the past week labour unions and Commerzbank management have called on the government to hold off on any further share sales.
The Finance Agency, which is part of the German finance ministry and manages government holdings, said a committee meeting of government officials on Friday had decided it “will not, until further notice, sell any additional shares”.
UniCredit declined to comment. A Commerzbank spokesperson said the bank had a strategy that works.
“Commerzbank is a stable and profitable institute. The bank’s strategy is geared towards independence. The Federal government will accompany this until further notice by maintaining its shareholding,” the agency said.
An official from Germany’s finance ministry, who did not wish to be identified, on Friday described the recent sale of part of Commerzbank’s stake as a test to see whether there were strategic buyers in the market. But others in the government have said they had wanted the shares that all went to UniCredit to go to a broad base of investors.
STRONGER COMPETITOR
UniCredit CEO Orcel has said he wants to start talks on a merger he says would “create a much stronger competitor” in Germany. His gambit comes after years of calls for Europe to improve its banks’ competitiveness in the face of larger U.S. and Asian rivals.
He faces big hurdles.
Cross-border European banking deals have been stymied by factors including years of paltry profitability that have left lenders too weak to try for tie-ups. And regulatory barriers to moving resources freely across borders have been reinforced by politicians’ preference for home-grown ‘champions’.
A turnaround of UniCredit has overcome one of the obstacles. The bank, unlike rivals, has the financial firepower for a bold combination after reaping bumper profits.
But national politics will be the hard part, and some investors have cautioned that cross-border deals remain difficult.
Anke Reingen, a banking analyst at RBC, said UniCredit was now unlikely to make a takeover offer soon.
“We do not think a deal is off the table, forever, but any move is likely to be later than we had initially expected,” she said.
Friday’s announcement means the German government’s plan is to now hold its Commerzbank shares beyond the 90-day lockup agreed at the time of the share sale last week, according to a person familiar with the discussions.
By Timothy Gardner and Laila Kearney
WASHINGTON (Reuters) – The U.S. Nuclear Regulatory Commission (NRC) said on Friday it has not yet gotten an application from Constellation Energy on restarting the Three Mile Island nuclear reactor.
Constellation and Microsoft (NASDAQ:) have signed a data center deal to help resurrect a reactor by 2028 at Three Mile Island in Pennsylvania. It has been shut since 2019.
“At this point there’s nothing in front of us in terms of an application. It’s up to Constellation to lay out its rationale for justifying restart, so we’re prepared to engage with the company on next steps,” said NRC spokesperson Scott Burnell.
Constellation said it had plans to file a permit application but did not immediately specify a timeline for doing so. “We anticipate the NRC review to be complete in 2027,” a company spokesperson said.
Nuclear proponents complain that NRC takes too long to review licenses, and a law signed by President Joe Biden this year is meant to help address that. But as demand for power soars for the first time in decades, the NRC is mulling a host of applications from new high-tech nuclear reactors and an application from a decommissioned reactor, in Michigan called Palisades, which if approved could be the first U.S. reactor to come back from restart.
Burnell said the NRC will use existing review processes to consider any licenses for TMI. Some opponents of quickly reopening shuttered nuclear plants have filed a petition at NRC saying the agency should adopt a new rule-making for such cases, as no closed U.S. nuclear power plant has ever been resurrected.
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex2 years ago
Unbiased review of Pocket Option broker
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Stock Markets2 years ago
Morgan Stanley: bear market rally to continue
