Contact Information: For more information concerning this press release please contact: Mr. Colin Hendrick President & CEO Office: 786.623.5690 Direct: 917.587.5856 Email Contact www.smartmetric.com
What Napster Did to Music SmartMetric Will Do to Money
Global Peer to Peer Cash Transfers
| Source: SmartMetric, Inc.
SURFSIDE, FL -- (MARKET WIRE) -- February 15, 2007 -- SmartMetric, Inc. (PINKSHEETS : SMME ) announces
that it has successfully developed software that works with its biometric
fingerprint card that enables a person to send money over the internet from
one card to another.
The Peer to Peer funds transfer or Card to Card money exchange will do to
money what Napster file sharing did to music. It will forever change the
way money is handled, said the President & CEO of SmartMetric, Inc., Mr.
Colin Hendrick.
Speaking from the company's research and development facility in Surfside,
Florida, Mr. Hendrick said this technology coupled with the company's
SmartMetric fingerprint activated card has the potential to revolutionize
the way money is transmitted.
Sending cash over the internet has been the elusive quest of many players
but the biggest hurdle to overcome has been the verification process of the
receiver. Using a card the size of a credit card with an embedded
fingerprint sensor and a surface mounted smart chip the SmartMetric card is
able to 100% verify the receiver of the cash. When the receiver connects
his or her card to the USB port of the computer and touches the fingerprint
sensor on the card the sender of the cash is electronically signaled and
within seconds the cash is transmitted to the receiver's card anywhere in
the world. It is as easy as taking cash from your wallet and handing it to
another person.
The software has been designed to allow the sender to contact his or her
bank and transfer funds from a checking or savings account directly onto
the card over the internet. Using banking standards for cash storage on a
smart chip called EMV, cash is stored on the person's card ready for
sending to another person or purchasing for cash items or services over the
internet. Interfacing with the ATM networks a receiver of the money
transferred to his or her card will be able to take the card to an ATM
machine and convert the cash in the card to banknotes.
Safer than cash in your wallet. Only the person who owns the card can
access the money in the card. Using technology that has taken SmartMetric
more than seven years to develop the card has built into it its own
biometric fingerprint reader. The fingerprint reading strip on the surface
of the card is touched and in less then a second the card identifies the
valid user.
Certain of the above statements contained in this press release are
forward-looking statements that involve a number of risks and
uncertainties. 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. Reference is made to SmartMetric's
filings under the Securities Exchange Act for factors that could cause
actual results to differ materially. SmartMetric undertakes no obligation
to publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise. Readers are
cautioned that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that actual
results may differ materially from those indicated in the forward-looking
statements as a result of various factors. Readers are cautioned not to
place undue reliance on these forward-looking statements.