6 Nov - 2 min read
How would you like to have a smarter credit card? A card that takes security to a whole new level?
Behold the future of credit card! MasterCard Worldwide has unveiled the next-generation of payment card: the MasterCard Display Card. Not yet available in Malaysia, will be released in Singapore in January 2013, in collaboration with Standard Chartered Bank Singapore.
The cool thing about this card is the extra features that it has; an embedded LCD display and touch-sensitive buttons. With these buttons (that look a little bit like a mini calculator), a cardholder can generate a One-Time-Password (OTP) as an added security measure for online banking. Thus, unlike many other banks, the user doesn’t need a separate device or key token for secure access.
Although the technology is not that new (Visa launched a similar card in 2011), it could possibly help to push the use of online banking. A lot of people are still sceptical about using bank websites, with security coming on top as their biggest concern.
It is still early to tell how the MasterCard Display Card will fare. Security aside, other factors, such as durability (what if you spilled your drink on the card, would it still work?) and extra security (if the card is lost, how easy it is for someone to get access to your OTP?) are yet to be established.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world