US-based technology company SmartMetric has inked an agreement with Spanish card payment scheme ServiRed to manufacture the SmartMetric biometric credit card.
SmartMetric will develop a solution that enables scanning and matching of a cardholder’s fingerprint in less than one second.
The firm said that the partnership with ServiRed will enable it to expand its sales and marketing into Europe.
At present, ServiRed is said to have 44 million cards in circulation, and more than one million participating merchants.
The Spanish firm has 100 members, which include banks, savings banks, as well as credit cooperatives. Of these members, 67 are the firm’s shareholders.
It offers international interoperability through co-branding with Visa and MasterCard.
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ServiRed markets the Advantis chip operating system, which will be incorporated into the SmartMetric biometric card.
The Advantis operating system is developed by Spanish payment processor RedSys.
Commenting on the new alliance, SmartMetric president and CEO Chaya Hendrick said: “We are excited by this agreement with ServiRed, who is a major European credit card network that also through its Advantis chip and card operating system will allow us to offer our advanced biometric credit and debit card solution to banks in Europe, South America and the United States.”