Business News • MarketWire • SmartMetric, the Maker of the Safer Biometric Payments Card, Said That Consumers Are Now Paying 1.32% at Retail Because of the Real Cost of Credit Card Fraud on Retailers

SmartMetric, the Maker of the Safer Biometric Payments Card, Said That Consumers Are Now Paying 1.32% at Retail Because of the Real Cost of Credit Card Fraud on Retailers

SmartMetric, the Maker of the Safer Biometric Payments Card, Said That Consumers Are Now Paying 1.32% at Retail Because of the Real Cost of Credit Card Fraud on Retailers

NEW YORK, NY--(Marketwired - January 04, 2016) - SmartMetric, Inc. (OTCQB: SMME) -- US. Fraud cost US retailers in 2014 approximately $32 billion. This is a dramatic increase from $23 billion just one year earlier. Much of the fraud problem is the result of the relatively weak security of credit and debit cards according to research published by Lexus Nexus. The same report shows that as a percentage of revenue, for 2014 the real total cost of fraud to US retailers from credit card fraud was 0.68%. The latest report is now showing that the full cost of fraud losses for US retailers for 2015 to be a staggering 1.32% of retail sales.

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