NEW YORK, NY--(Marketwired - Apr 21, 2015) - SmartMetric, Inc. (OTCQB: SMME) SmartMetric says the recent report by the research company BI Intelligence reveals a massive increase in the cost of payment card fraud for United States retailers. The report shows that the cost of fraud increased from $23 Billion in 2013 to $32 Billion in 2014. This represents almost a 40% increase in the cost of fraud in just 12 months.

According to SmartMetric, this unsustainable cost of fraud and its staggering year-on-year growth shows the vulnerability of the payment card system. "This is why SmartMetric has spent over a decade of research and development to create a safer credit card through the integration of biometrics into both credit and debit cards," said SmartMetric's President & CEO, Chaya Hendrick.

The SmartMetric biometric payments card uses a persons' fingerprint to activate the chip on the new chip payments cards in use around the world and that are now being issued in the United States. It is estimated that more than 2.6 billion chip cards are currently in use around the world.

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