Sign in with
Sign up | Sign in

MasterCard Electronic Display Cards Finally Go Mainstream

By - Source: MasterCard | B 11 comments

MasterCard has launched its largest deployment of electronic credit cards to date.

Forget NFC technology and sensitive credit information stored on phones and tablets: MasterCard on Tuesday announced the largest deployment of its next-generation payment card, the Display Card, thanks to a deal with Standard Chartered Bank Singapore.

The first Display Cards were actually launched in 2010, combining the traditional credit card features with a small LCD screen and one or more touch sensitive buttons. MasterCard claims these cards look, feel and can be used like any other credit or debit card, but the added electronic components allow them to be used as authentication cards, or as information display cards.

Currently banks issue a separate authentication token for online banking, especially during high-risk transactions like making payments or transferring money above a certain amount. MasterCard's 2-in-1 solution removes the need to carry a second authentication device.

According to the company, the "Authentication" aspect allows for remote authentication of online banking and e-commerce transactions by generating One-Time-Passwords (OTPs). The "Information Display" aspect allows users to access their available credit balance, loyalty or reward points, recent transactions, and other interactive information.

Beginning January 2013, all Standard Chartered Online Banking or Breeze Mobile Banking users in Singapore will use MastgerCard's Display Card as a Standard Chartered security token card for use in higher-risk transactions. Even more, all MasterCard Platinum and Bonus$aver credit cards as well as MasterCard Super Salary, XtraSaver, Bonus$aver debit cards issued in Singapore will be converted to Display Cards as well.

"We are pleased to have been able to support the launch of  Singapore’s first Display Card by Standard Chartered," said Matthew Driver, president, South East Asia, MasterCard Worldwide. "With the continued growth in online and now mobile initiated remote payments, consumers are naturally demanding increased security. The innovative features of the Display Card serve to address this need, whilst empowering consumers to do so much more with their payment cards."

MasterCard Display Cards are being deployed in increasing numbers by innovative banks all around the world, the company added on Wednesday.

 

Contact Us for News Tips, Corrections and Feedback

Discuss
Display all 11 comments.
This thread is closed for comments
  • 1 Hide
    enewmen , November 8, 2012 2:06 PM
    Living in Singapore, we already have "smart" credit cards and cash cards. They look like credit cards, but have a chip like a phone SIM card on the end. So, you don't need to "swipe" - just stick the card in. You can also keep the card in the wallet, so at McDonalds, 7-11, or the subway (MRT), just swipe your wallet near some reader, then things get paid automatically.

    The Electronic Display Cards takes things further.
  • 2 Hide
    beardguy , November 8, 2012 2:17 PM
    This is cool. It basically has a small screen to display the authentication code. I'm sure there is one button to generate a key at the time of purchase.

    Credit Card fraud is just too prevalent these days, things l like this will have to be a necessity in the future to help keep consumers safe. Within the last 6 months I've had 2 accounts compromised! I am looking to technologies like this now to help avoid it from happening again.
  • 2 Hide
    igot1forya , November 8, 2012 2:30 PM
    22gg..........

    You fall asleep on your keyboard again?

    One more layer of security is always good. Next year I'm sure there will be something more added, like a blood sample or something :) 
  • 1 Hide
    hairystuff , November 8, 2012 2:31 PM
    question is how durable are these cards with the extra electronics and components embedded into them, will they last 2-3 years of wallet bashing.
  • 1 Hide
    freggo , November 8, 2012 3:02 PM
    igot1foryaYou fall asleep on your keyboard again?One more layer of security is always good. Next year I'm sure there will be something more added, like a blood sample or something



    Urine sample...An opening for 'deposit' will be under each CC terminal.


  • 0 Hide
    g00fysmiley , November 8, 2012 6:01 PM
    i can barely keep the magnetic strips from going out every 4-5 months, i am sceptical for how long this will last... but mayeb my bank just makes crappy card... or maybe i am to hard on em, in either case never had a debit card last a full 6 months and an added lcd makes me worry, liek the idea though
  • 0 Hide
    alidan , November 8, 2012 8:40 PM
    enewmenLiving in Singapore, we already have "smart" credit cards and cash cards. They look like credit cards, but have a chip like a phone SIM card on the end. So, you don't need to "swipe" - just stick the card in. You can also keep the card in the wallet, so at McDonalds, 7-11, or the subway (MRT), just swipe your wallet near some reader, then things get paid automatically.The Electronic Display Cards takes things further.


    how does haveing more than one card work?

    i know we have a few cards, one for small, one for big, one for medical (provided by insurance company)

    lets say all 3 can swipe like that, how does that work?
  • 0 Hide
    svdb , November 8, 2012 8:57 PM
    It's only a matter of time before the credit card merges with cellphone. It's already in progress in certain countries like Japan.
  • 0 Hide
    Darkk , November 9, 2012 12:16 AM
    g00fysmileyi can barely keep the magnetic strips from going out every 4-5 months, i am sceptical for how long this will last... but mayeb my bank just makes crappy card... or maybe i am to hard on em, in either case never had a debit card last a full 6 months and an added lcd makes me worry, liek the idea though


    I don't think they will be using traditional components like you would see in an electronic device like a cell phone. They are probably using flexible AMOLED screen and battery. They wouldn't be making this available to the public if it weren't durable enough for everyday use.
  • 2 Hide
    agnickolov , November 9, 2012 4:44 AM
    The whole point of two factor authentication is that you have two independent inputs. When they are combined like here, the advantage is gone.
  • 0 Hide
    f-14 , November 11, 2012 2:55 AM
    still no photo ID and thumb print signature either
Tom’s guide in the world
  • Germany
  • France
  • Italy
  • Ireland
  • UK
Follow Tom’s guide
Subscribe to our newsletter