SmartMetric's issued patents give it exclusivity on biometric fingerprint sensor-based credit cards in the USA, preventing any other company from selling or commercializing the use of a standard credit or debit card with a fingerprint sensor in the country. The SmartMetric biometric fingerprint scanning credit card is unique in that it is the first and only such card with an inbuilt rechargeable battery allowing use at any type of credit card reader including contactless and ATM readers. Both Visa and MasterCard have adopted the use of biometric credit cards over their respective payment networks.
Cyborg Score Rationale
SmartMetric holds exclusive U.S. patents for biometric fingerprint credit cards, has successfully manufactured its GEN4 product (June 2024), and operates in a high-growth market ($5.8B projected by 2030 at 62.5% CAGR). However, the company faces execution risk from long development timelines, is early in commercialization, and relies on adoption by major card networks and banks.
Top Insights
(June 2024) Announced successful manufacturing of GEN4 fingerprint-activated credit card with miniature embedded fingerprint scanner
(May 2024) Secured exclusive U.S. patent protection for biometric fingerprint sensor-based credit and debit cards
(June 2023) Visa and MasterCard adoption of biometric credit cards validates market-leading technology positioning
Years of R&D investment (reportedly $33+ million) and patent portfolio provide significant competitive moat against new entrants
Named Competitors
Visa contactless payments — Global payments network with advanced contactless and fraud protection infrastructure
MasterCard contactless payments — Global payments network with security and fraud prevention capabilities
Apple Pay — Mobile biometric payment platform with fingerprint and face recognition
Recent Developments
(June 2024) Completed manufacturing of GEN4 biometric fingerprint-activated credit and debit card
(May 2024) U.S. Patent Office issued patents granting SmartMetric exclusivity for biometric fingerprint sensor-based credit cards in USA
(June 2023) Visa and MasterCard announced adoption of biometric credit cards over their respective payment networks
(October 2023) Announced near-commercial readiness and metal version of biometric card after export approval
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