Protection of personal data is always essential, especially when it comes to payments and finances. In an increasingly paperless world, hackers and thieves alike seem to continue to find new ways to obtain sensitive data and exploit the consumer.
This is what one company is setting out to prevent by pushing for the adoption of On-Card Biometric Authentication for credit and debit cards. SmartMetric, Inc. (OTCQB:SMME) is excited about the European Union PSD2 banking directive that will force banks to adopt two factor authentication for credit and debit card transactions. As this issue becomes increasingly pressing, companies like SmartMetric could benefit substantially, which is why its share price popped during today’s trade.
SmartMetric is engaged in the technology industry. It holds the license to biometric smart card technology. SmartMetric's has developed fingerprint sensor activated payments card and a security card with a finger sensor and fully functional fingerprint reader embedded inside the card. The cards have a rechargeable battery allowing for portable biometric identification and card activation. Its products offerings includes Touch & Pay card, Smart Security card, Smart Identity card, Smart health records card and smart drivers license.
Shares of this micro cap traded up to a session high of $0.0185/share (+7.56%) following the press release outlining the PSD2 directive as traders deciphered and absorbed the information.
