UPDATED 09:20 EDT / NOVEMBER 08 2012

NEWS

Is It A Laptop? A Tablet? A Phone? No, It’s A Credit Card

Now this is a pretty cool thing – Mastercard has just released a new kind of credit card that features a built-in keyboard and an LCD display.

The next-generation credit card, known as the Display Card, features touch-sensitive buttons and has the ability to create one-time passwords (OTPs), which will do away with the need for a separate device to authenticate purchases.

Meanwhile, the LCD Display will allow cardholders to see information such as their account balance, their spending limit, and their dynamic passcode whenever they need. In addition, it may also be able to display other information, such as recent transactions and loyalty points.

Mastercard said that the new cards have been developed in collaboration with NagralID Security, a Swiss cybersecurity firm.

It says that the Display Card technology makes the cards more convenient for their customers when performing actions such as online purchases or banking online, as they can use it to facilitate the entire transaction.

The cards will be rolled out first in Singapore on January 13, available to customers of the Standard Chartered Bank and Breeze Mobile Banking. The card will act as an additional layer of security for customers performing higher-risk actions, say the banks. These include transfers and payments above a certain amount of money, changing personal details, and adding third-party payees.

According to V. Subba, Standard Chartered’s head of retail banking products:

“In Singapore, many customers bank with multiple banks. We brainstormed on ways to make it convenient and yet secure for customers. 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.”


A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy

THANK YOU