NEW YORK –A new survey found that 47% of American consumers report they have been the victims of credit card fraud over the past five years.
According to SmartMetric, which manufactures fingerprint activated payments cards, from 2012 to 2016 the rate of consumers who have been affected by card fraud has increased by four percentage points. At this trajectory within the next 24 months more than 50% of the population will have been victims of credit card fraud, the company said.
In conjunction with the release of the data, SmartMetric has pitched its own solution as one answer. The company manufacturers a Biometric Credit Card that includes a fingerprint reader inside a credit card. The biometric reader is used to turn on the card's surface chip following a fingerprint match and prior to being inserted into card readers or ATMs.