MasterCard Introduces Credit Cards With LCD Display And Keypad
The next time you get a new credit card from the bank, it might come with an LCD display and keypad on it.
Introduced for the first time in Singapore is MasterCard’s new ‘Display Card’—that has been described as the “next generation of payment cards” by the company.
It combines the features of normal credit, debit or ATM card with an authentication function—which comes in the form of a touch-sensitive keypad and built-in LCD display—allowing cardholders to generate a One-Time Password (OTP) for their online banking needs.
Currently, cardholders carry a separate authentication token for online banking—but with the new Display Card, it would eliminate the need to carry such devices in their pockets.
MasterCard has also revealed that the Display Card may even be used to show available credit balances, loyalty or reward points, recent transactions, and other interactive information in the future.
“In Singapore, many customers bank with multiple banks. We brainstormed on ways to make it convenient and yet secure for customers,” said V.Subba, Regional Head of Retail Banking Products for Standard Chartered Bank.
“The question was: instead of sending customers another bulky token, could we replace something which already exists in the customer’s wallet? That was when credit, debit and ATM cards, immediately came to mind.”