At present the Credit, Debit or ATM Cards that banks provide don’t have any keypad and LCD on it. But American multinational financial services corporation MasterCard Worldwide (well known as MasterCard) is trying to bring change on that trend. MasterCard in collaboration with Standard Chartered Bank Singapore has unveiled a new “Display Card“, which basically combines the usual credit/debit or ATM card with an authentication token.
Many banks issue a separate authentication token for different online banking services like payments or transfers above a certain amount, adding payees or changing personal details. At the same time these separate authentication tokens bring inconvenience to card holders. But MasterCard’s Display Card can sort out the problem.
The Display Card looks and functions almost exactly like a regular credit, debit or ATM card. It is manufactured by NagraID Security. It has authentication portion that features a touch-sensitive keypad and Liquid Crystal Display (LCD) display. The LCD display and touch buttons allows a card holder to generate a One-Time Password (OTP) which means this will eliminate the hassle of carrying a separate authentication device.
At present, only Standard Chartered has announced the Display Card for some of its customers in Singapore for now.