Payments News


SmartMetric, the Maker of Biometric Credit and Debit Cards, Says the Use of Cards for Payments Is Growing at a Phenomenal Rate With Now More Than 8.2 Billion Credit/Debit Cards Worldwide

“The majority of issued credit cards now are what are commonly called “chip cards.” That is cards with small square chip on the surface of the card that is used to send encrypted information from the card to the retail card reader and ATM. The United States has more than 842 million* credit and debit cards as of the last quarter of 2018. The world total of chip based credit and debit cards now tops more than 8.2 billion cards as of the end of 2018 *. This is over a billion card increase from the previous year. Foreseeing the growth in the use of chip-based credit and debit cards, SmartMetric over a decade ago set about to add additional security by putting a biometric fingerprint scanner inside the card that is used to turn on the card’s chip following a biometric validation of the card user.”