SmartMetric, Inc., which develops and manufactures biometric credit and debit cards, has been researching how to miniaturize a fully functional fingerprint scanner for over a decade. The resulting product is less than a quarter the thickness of a standard credit card, and promises to offer a new industry standard in credit card technology and payment security.
According to London - based research firm Goode Intelligence, the market for biometric debit and credit cards will reach nearly 579 million cards worldwide over the next five years. SmartMetric's president and CEO, Chaya Hendrick, says the report is good news for her company. "We welcome this research report, as it clearly shows the enormous size of the market for our biometric credit/debit card," says Hendrick.
Market could be even bigger than anticipated
Looking at further data, it's even conceivable that there will be even more demand than some expect. "Based on our own contracted research conducted by an independent consumer research company that shows up to 70 percent of existing credit card users are prepared to pay for a premium biometric secured credit card, it is possible that this projection of half a billion cards being biometric cards is in fact an underestimation," says Hendrick.
Anyone who has experienced payment card theft or fraud knows how distressing and time-consuming it can be to freeze their account, contact creditors and banks, and go through all the steps necessary to recover losses. For this reason, consumers may well be willing to pay a premium for a secure credit card that is linked to their fingerprint. "Our cards are arguably the most advanced in that they allow for usage across all reader types, such as ATMs and retail store readers," Hendrick explains. "[They] stand a good chance of being the leading card adopted by banks around the world."
Read Also Related News
Although more people are using mobile wallets and moving away from using cash or credit cards as their go-to payment method, consumers have still shied away from using virtual credit cards for the majority of their purchases. But companies...
If you’d like to donate more money to good causes, but you never seem to get around to setting up the donations, a new app will make it easier to be generous. The app, called Movements, lets users donate small amounts that come from...
Commuters who spend a lot of time in the car will be happy to hear that there’s a new way for them to fuel up fast and pay quickly and securely, without even getting out of the car. Gulf Oil is launching a new mobile payment app,...
You can pay your Macy’s card online using Macy’s online pay service. Just visit their official website and follow the prompt to create your online profile and add your Macy’s card to that profile. Also, consider CheckFree, a partnering payment service. You can also pay your Macy’s American Express...
At my local bank there was an advertisement that if one enrolls in Alaska airline credit card and spends $1000 in the first 3 months then a travel companion could fly free. Is this still in effect? Does it apply to international trips and 1st class? Does the flight need to be Alaska airlines/ Virgin airlines?
Currently, the Alaska Airlines credit card has the following offer: “Annual companion fare from $121 ($99, plus taxes and fees from $22) after you make $1,000 or more in purchases within the first 90 days of your account opening”. This benefit will qualify for a round-trip coach Companion Fare on Alaska...
I once had the US Airways credit card, then the airlines merged with American Airlines and my card transitioned into the AAdvantage MasterCard with a higher annual fee and without companion pass. I use the card one year and then closed it because I don’t fly with American Airline often. Now I am looking for a credit card without an annual fee. What are my options?
You may like one of the regular travel rewards credit cards offered by major banks. Travel rewards credit cards allow earning miles on all purchases. The cards also have one-time sign up bonuses which may be enough for a domestic flight. There are credit offers without annual fees, the other offers come with rather low...
I had the US Airways MasterCard back in 2013 but had to close it because I got divorced and had some troubles with keeping up with my credit cards fees. I’m back on track now and would like to apply for this card again but can’t seem to find it anywhere. Can you help?
The US Airways Premier World MasterCard is no longer offered. US Airways removed their credit card after merging with American Airlines. Today you can apply for one of the AAdvantage credit cards offered by Citi or for a regular travel rewards credit card. Both types of credit cards will allow you to earn miles and redeem...