MasterCard Launches Next Generation Credit Card

by Mercator Advisory Group 0

MasterCard has launched the next generation credit card in Singapore through Standard Chartered Bank. The card features a small display screen, a touch based keyboard, and even a power button. Based on the dual-key authentication principal, the MasterCard Display Card provides the added layer of security without making consumers carry around secondary passcode device.

From PC Magazine:

MasterCard’s South East Asia president, Matthew Driver says that the new card is a security based response to the increasing number of financial transactions that take place online and remotely, “With the continued growth in online and now mobile initiated remote payments, consumers are naturally demanding increased security. The innovative features of the Display Card serve to address this need, whilst empowering consumers to do so much more with their payment cards.”

Utilizing the keyboard and display screen, the cardholder creates a one-time password that can be used for authentication when making online purchases. The card was developed with leading security firm NagraID Security, based in Switzerland. While currently limited to credit cards, the new card technology will expand to include debit and basic ATM cards. Furthermore, MasterCard believes the display screen could potentially show balance information, transaction histories and reward point statues in the future.

The card is laudable response to the emergence of new payment technologies and provides customers with the added security of the duel-key authentication method, without the inconvenience of carrying around a secondary device. As consumers become more wary of payment security risks, perhaps the MasterCard Display Card is the best means of calming consumer fears as the industry moves forward.

Click here to read more from PC Magazine.

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