March 14, 2016

Eighty percent of US credit card sers surveyed are concerned about fraud, identity theft

NEW YORK--A survey conducted over the weekend of credit card users in the United States showed that 80 percent are concerned about credit card and identity fraud while 65 percent of credit card users would pay for a safer biometric secured credit card that has a built in fingerprint reader for protection.

"This consumer survey shows the continued anxiety and concern of consumers regarding the safety of their credit cards and the insecurity when it comes to card fraud and identity fraud" said SmartMetric's President & CEO, Chaya Hendrick, who comissioned the survery "It also shows that this anxiety and concern would motivate credit card users to in fact pay for a safer and more secure credit card that uses fingerprint biometrics built into the card."

Consumers in this survey also said they would be prepared to pay for a safer credit card that uses the power of biometric technology built into the credit card to provide greater protection. Hendrick expressed surprise to see that more than such a high percentage of card holders would pay for the type of card the firm spent a decade to develop.

"We knew that the concern of consumers was high because other research has shown that up to 70 percent of consumers generally said they were concerned about card and identity fraud. What we have seen in this survey narrowed down to credit card users is that they are more concerned than the general population. It came as a surprise to us that an staggering 80% of credit card users are concerned about the safety of their credit cards," said Hendrick.

SmartMetric has created a fingerprint activated biometric credit card that uses a super miniature fingerprint scanner inside the credit card that is used to identify and validate the card user. The card holder simply swipes their finger across the sensor on the surface of the card and in less than 0.25 seconds the card reads and matches the person's fingerprint that then in turn activates the card for use at the checkout or ATM. SmartMetric has also created a small USB card reader adaptor that turns a person's laptop into a much safer way to buy online. Simply inserting the USB card reader into the USB port of the laptop, activating the card by swiping your finger and then inserting your card into the reader has now brought the safety and power of biometric security to the online user.

The SmartMetric Biometric card works with the EMV chip technology. According to EMVco there are 3.4 billion EMV chip cards now in use around the world.

 

 

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