Here’s something revolutionary in the credit card segment. ‘Hats-off’ to technology. MasterCard has come up with LCD display embedded credit card. Yes, and don’t be surprised when you get a new card from your bank next time. It will have a keypad too.
The new card is dubbed as “Display Card” and it combines authentication token along with the usual credit/debit or ATM card. A touch-sensitive keypad as well as a LCD display is the authentication token and this is the reason it has been dubbed as “Display Card”. The display will reflect one-time password (OTP).
MasterCard writes in a released statement its Display Card functions exactly like a regular debit, credit, or ATM card.
The current practice by many banks is to issue a separate authentication token to provide online banking services. This has been important for high-risk transactions in particular such as payments being made above a certain risk level amount, changing passwords or adding payees.
According to MasterCard, this new “Display Card” would eliminate carrying of any separate authentication device.
Isn’t it a good news for those who carry everything in their pockets?
Also, in future the display may be able to show us our credit balance, recent transactions, or reward points.
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So far only few European banks have announced of issue the new Display Cards to their customers. Standard Chartered Bank is one of those. Others will also be soon rolling out this next-generation 2-in-1 card.
Do share your experience if you have come across the Display Card.
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