Colin Hendrick, president of SmartMetric, commented: The SmartMetric fingerprint activated credit card will protect online users against identity theft while at the same time reducing charge backs and credit card fraud losses for online merchants.
An online buyer’s identity is stored inside the card with very high level encryption, including a billing and shipping address and credit card number.
Making an online payment with the card is easy. The consumer simply touches the fingerprint sensor on the card’s surface and the user’s information is then sent encrypted from the card over the internet to the online site. Instantaneously, the information is de-encrypted at the trusted online site with the checkout fields such as name and address, credit card number and expiration date filled in automatically.
The company claims that this will avoid the buyer’s information being stolen by ID thieves. Identity thieves will no longer be able to steal the person’s information as they type it in and it is much safer than having the user’s information stored in some electronic wallet on a remote central computer that can be hacked.
SmartMetric is offering this solution as an alternative to spending a large amount of money each year on anti ID theft software or paying for services to let a consumer know that their identity has been stolen. Instead, the company will offer the consumer, for a one-time outlay of under $70, its biometric identity card along with a card adaptor for use with any computer.
