NEW YORK--(BUSINESS WIRE)--
SmartMetric, Inc. (OTCQB: SMME): Building on its unique hybrid solid state battery and rapid recharge internal to the card, power management system, SmartMetric has successfully added to its card power system powerful energy harvesting technology. This technology harvests electrical energy emitted from instore contactless card readers used for contactless payments and converts this electrical energy into power that powers the card's internal processor used for the biometric fingerprint reading of the card user's fingerprint.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220711005847/en/
Energy harvesting from reader to card (Photo: Business Wire)
Holding the card within close proximity to the contactless card reader sends radio waves that are converted into an electrical field that is then used to power the instant fingerprint reading of the card holder. Simply speaking, the user simply holds the finger on the card's biometric fingerprint sensor while they hold it over the instore contactless reader which in turn provides the power to the card to perform an instant fingerprint verification that unlocks the card.
The theoretical harvesting of energy from the ether is something that dates back to the renowned scientist Nikola Tesla. “While our energy harvesting doesn’t extract power from atmospheric vibrations or the globe's magnetic fields, we have been able to convert radio waves into energy that can power our biometric cards' circuits,” said today SmartMetric’s President and CEO, Chaya Hendrick.
This radio wave energy harvesting, while being an exciting innovation, does have its limitations. The power harvesting from the radio waves emitted from a card reader are not standardized, which poses electrical engineering issues in calibrating our power absorption in relation to the power available from the source card reader radio emissions. Another issue is that the actual power that is able to be absorbed into our biometric card is affected by the time the card is held over the reader. So, a calculation between card reader power emission by the time the card is held in close proximity of the power field comes into calibrating the actual power provided to the SmartMetric biometric card. Add to these variables, another calculation needs to be taken into account which is the distance the card user holds the card in proximity to the card reader.
Our functional experience is that we are able to power our biometric card from the radio waves emitted from a contactless reader. However, because of the variables involved, it may not work in all contactless readers. The other functional limitation is that such energy harvesting can only be converted into enough electric power to provide power for one transaction. It can not harvest enough power to allow for storage into the card’s hybrid solid state battery.
While we are excited about our power harvesting that we have been able to achieve, it does have its real-life limitations. Most of the world’s ATMs are not contactless enabled so relying on energy harvesting in this situation would not work. Not all retail stores have contactless card readers at this point in time. Then, because of the functional variables, you will have a number or contactless card reading situations where power harvesting just simply won’t work.
The SmartMetric biometric credit/debit card has engineered into the card three power sources. A miniature hybrid solid state battery, a power feed from contact readers when the card is inserted into a contact store reader, or a regular ATM and the contactless energy harvesting from contactless card readers.
Having the internal hybrid solid state power storage inside the card allows the card to scan the card user's fingerprint prior to it being inserted into a card reader, allowing the card to function across all card reading types - contact, contactless or even readers such as found at gas pumps and ATMs.
The SmartMetric card uses an almost paper-thin hybrid solid state battery connected to an advanced rapid charge power management system inside the card that allows the card to scan and match a person’s fingerprint biometrics before the card is inserted inside an instore card reader, ATM or Gas Pump reader, making it the first and only biometric card solution that will work across all of these credit/debit card reading devices, in the world.
SmartMetric’s Biometric card addresses the multibillion existing chip-based credit and debit card market. Figurespublished by EMVCo 1 reveal that by year end of 2020, 10.8 billion EMV® chip cards have been issued by financial institutions and were in global circulation – a massive increase of nearly 1 billion credit and debit EMV® cards compared to the previous twelve months.
To view the SmartMetric Biometric Card please follow this link - Video of the SmartMetric Biometric Card. To view the company website: www.smartmetric.com
1 Data Source: 10 Billion and Counting: What the Latest EMV® Chip Data Means for Global Payments - EMVCo
EMV is a registered trademark of EMVCo
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/20220711005847/en/
Copyright Business Wire 2022