SmartMetric Says the Reported 40% Increase in the Cost for Retailers of Payment Card Fraud Resulting in $32 Billion Losses in 2014 Up From $23 Billion in 2013 Is Staggering and Due to the Intrinsic Insecurity of Payment Cards
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 04/21/15 -- 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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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. 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.
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Datum: 21.04.2015 - 15:17 Uhr
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