As the payment and credit card industry continues its shift towards embracing cryptocurrency, SmartMetric has launched its crypto key storage technology for use with cards.
The solution utilises its own crypto key secure element inside the card protected by firewalled encryption, which leads to heightened security around the card of encrypted crypto keys in a highly functional manner.
SmartMetric’s President & CEO, Chaya Hendrick commented: “For a number of years we have been working on an engineered solution to bring together the power of biometric card-based security, large scale encrypted memory incorporated into an existing credit and debit card format.”
The expansion of their capabilities comes following the announcement that one of the major payment card networks confirmed its move into government-approved stable crypto.
As part of SmartMetric’s new offering, the firm can provide a card platform that has embedded inside the card a biometric fingerprint scanner for validating the card user and automatically giving the validated user access to the encrypted crypto keys stored inside the new SmartMetric Crypto Payments Card.
Further heightening security around the usage of crypto and card payments, SmartMetric builds on two separated firewalled secure elements, while also providing greater memory and added encryption power.
The SmartMetric biometric fingerprint activated card seeks to maintain ease and efficiency, through the enrolment of a person’s fingerprint.
Similar to the simplicity and ease of storing a fingerprint on a mobile phone, SmartMetric secure user storage of the cardholder’s fingerprint does not require additional fingerprint reading devices in bank branches for enrolling fingerprints. This allows the biometric card solution to be easily used by mass card issuers without having to change their distribution methods.
Expert Analysis: Linking crypto payments with biometrics is a natural and logical step when it comes to enhancing security. The expansion of SmartMetric’s offering is an exciting next step for the sector as it continues to grow.
