The additional capital will be used to complete the companys production facilities in Buenos Aires, where the company will install key robotic assembly equipment.
According to EMVCo, owned by American Express, JCB, MasterCard and Visa, almost 1.2 billion EMV cards have been issued globally and 18.7 million POS devices accept EMV cards as of Q1 2011. This represents 40.1 percent of the total payment cards in circulation and 71 percent of the POS devices installed globally.
SmartMetric develops, manufactures and sells fingerprint biometric micro sensor technology. Its main product includes Biometric Datacard, a fingerprint sensor activated card with a finger sensor onboard the card and a built-in rechargeable battery for portable biometric identification. The company has offices in New York, Nevada and Florida.
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