MasterCard’s latest offering: a credit card with touch-sensitive buttons and an LCD display. The DisplayCard, as this new card is called, is manufactured by NagraID Security and looks and functions almost exactly like a normal credit or debit card – except it allows you to generate one-time passwords. This could be, say, an added layer of authentication (as an example, for more secure online transactions).
Standard Chartered (Singapore) will be adopting it as a 2-in-1 credit card / security token. Some of its high-security services require the use of a separate authentication device or token in addition to the card itself.
“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,” says V. Subba, Regional Head of Retail Banking Products, Singapore and Southeast Asia, Standard Chartered Bank.
MasterCard’s DisplayCard debuted in 2010, but this (announced on November 7th) marks the biggest deployment of DisplayCards to date. MasterCard sees more applications for the DisplayCard in the future: displaying account balance, for example.