SmartMetric has announced plans to “significantly” penetrate the EMV credit and debit smart card market.
EMV, which comes from the initial letters of Europay, MasterCard and VISA, is widely becoming the global standard in the migration from magnetic stripe cards to chip based smart cards, says SmartMetric.
The company plans to open up its own manufacturing facility to produce its ‘in card’ biometric smart cards designed to be the “ultimate solution” against fraud, says SmartMetric.
The SmartCard will only work after the users fingerprint has been read by the SmartMetric biometric cards internal scanner and reader.
The company also disclosed that it is in discussions with economic development officials in Latin American and anticipate announcing its first Latin American facility shortly.
Colin Hendrick, SmartMetric CEO, stated, “World banks have rapidly migrated to the new EMV standard. International banks are issuing hybrid credit cards which support both magnetic stripe and chip transactions. The next imminent step will eliminate totally the magnetic stripe from the smart cards.”