Mobile Transactions Dwarfed 19 To 1 By Plastic Card Transactions

Apr. 17, 2015 2:19 PM ETSMME
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Contributor Since 2014

Employed in healthcare for 35 years. Interested in novel and destructively innovative healthcare technologies.

NEW YORK, NY--(Marketwired - Apr 17, 2015) - SmartMetric, Inc. (OTCQB: SMME), the developer of the miniature in-card credit and debit card biometric fingerprint scanner says the hype over mobile payments doesn't match with even the most optimistic projections for mobile payment adoption. According to figures from Statista and eMarketer the projected dollar value of mobile transactions for 2018 to be $118 Billion. This is dwarfed by the actual dollars spent using plastic credit cards which was over $2.4 Trillion in 2012.

While mobile payments is an interesting payment method, it is and will remain a minor niche player in the payments world. Many reasons can be given as to why plastic will still dominate payments but one of the major reasons is that while ATM's are not able to be used by mobile handsets people will still leave home with their piece of plastic said today SmartMetric's President & CEO, Chaya Hendrick.

SmartMetric makes biometric fingerprint activated cards for the chip card industry. As of 2014 there are more than 2.4 Billion chip cards in circulation globally.

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Thanks to Stockhouse and Smarmetric for this important information. This is in no way a recommendation to buy, sell or even consider smartmetric as an investment. This is for public financial information sharing only.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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