SmartMetric Says Recent Report Shows Consumer Adoption Continues To Be A Struggle for Digital Wallet Providers While Consumer...
03 9월 2014 - 12:00AM
Access Wire
NEW YORK, NY / ACCESSWIRE / September 2, 2014 / SmartMetric,
Inc. (OTCQB:SMME) Lack of trust of the mobile phone is the biggest
impediment to the adoption of mobile phone based payments according
to a recent survey of USA consumers. This raises the issue of the
long term effects of the most recent data breach of Apples iCloud.
While Apple prepares to launch its new mobile payments platform for
use with its iPhone 6 phone the data breach of its integrated
iCloud service could be badly hurt by the data theft from its
servers. Particularly since trust is the biggest concern and single
largest issue stopping the adoption of mobile phone based
payments.
A June 2014 consumer survey* found U.S. consumers recognize
digital wallets as an alternative to cash-based transactions
however usage remains a problem. Security concerns remain the main
barrier to adoption (46 percent), followed by lack of usability vs.
credit cards/cash (37 percent) and not being top of mind as a form
of payment at the time of purchase (32 percent). It has been found
amongst survey respondents that when a mobile digital wallet has
been used it was used for a sub $50.00 transaction.
Resistance to digital wallets surrounds payment security and the
lack of any compelling reason to use them. For example, after
security concerns, the second most common reason cited for not
using them is, "it’s easier to pay with cash, debit or credit
cards."
Those in the industry have long said that simply replacing a
plastic card with a digital version wouldn’t by itself motivate
consumer adoption. That appears to be true. The recent iCloud hack
will only compound the mobile phone trust issue.
SmartMetric has developed a safer credit and debit card
combining an inbuilt inside the card biometric fingerprint reader
with an EMV chip card. The SmartMetric focus on adding biometrics
to payments cards is a recognition of the power of biometrics in
making transactions safer. There is in excess of 1.6 billion EMV
chip cards in use globally with new adoption in the USA predicted
to add a further 1 billion EMV chip cards to this number.
SmartMetric is a publicly traded technology company that has
added a fingerprint scanner built inside EMV payment credit and
debit chip cards thereby creating a second layer biometric
authentication protection in defending against card fraud. The
company is now actively marketing its technology to card issuing
financial institutions around the World.
*Thrive Analytics Research Report- 2014 Digital Wallet Usage
Study - some respondents gave multiple reasons.
About SmartMetric, Inc.
SmartMetric, Inc. is a technology company that designs and
engineers its own advanced products utilizing the company's
expertise in miniaturizing electronics. The company has developed a
miniature fingerprint self powered fingerprint scanner and reader
that fits inside credit and identity cards that are at the center
of SmartMetric Inc.'s advanced biometric products. For more
information please visit www.smartmetric.com.
Safe Harbor Statement
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.
SmartMetric, Inc.
Chaya Hendrick
Office: 702-990-3687
Direct: 786.269.2238
Email: ceo@smartmetric.com
SOURCE: SmartMetric, Inc.
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