The day couldn’t have been very far now could it? Regular plastic credit or debit cards may soon go out of style! MasterCard has launched a next-generation interactive payment card, or security token card, using MasterCard’s Display Card touch technology. The card has been launched in collaboration with Standard Chartered Bank, Singapore.
The MasterCard Display Card looks and functions like any other regular credit, debit or ATM card – but includes an embedded LCD display and touch-sensitive buttons which allow a card holder to generate a One-Time Password (OTP) as an authentication security measure.
This card combines the functionality of a standard payment card along with a security token. In future, this card is also expected to incorporate new features and would be able to display available credit limits, recent transactions, etc – all in real-time!
With effect from January 2013, all Standard Chartered Online Banking or Breeze Mobile Banking users will start using the Standard Chartered security token card as a new personal security device for higher-risk transactions.
Now that Standard Chartered Bank has launched them, all MasterCard Platinum and Bonus$aver credit cards, MasterCard Super Salary, XtraSaver, Bonus$aver debit cards issued in Singapore will be converted to Display Cards.
- Tags: Finance