World's First Master Card Display Credit Card

MasterCard unveiled it's first interactive payment card, or security token card, using MasterCard’s Display Card technology, heralding the next generation of payment cards for Standard Chartered Bank,Singapore.

The New MasterCard Display Card, manufactured by NagraID Security, looks and functions almost exactly like a regular credit, debit or ATM card, but features an embedded LCD display and touch-sensitive buttons which allow a cardholder to generate a One-Time Password (OTP) as an authentication security measure.

At present, banking institutions that necessitate a higher level of security for their online banking services require the use of a separate authentication token or device. The innovative 2-in-1 device, which combines the functionality of a standard payment card with a state-of-the-art security token, currently reflects the customer’s OTP. In future, this card could incorporate additional functionalities and be able to indicate other real time information such as available credit balance, loyalty or reward points, recent transactions, and other interactive information.

From January 2013 onwards, all Standard Chartered Online Banking or Mobile Banking users will use the Standard Chartered security token card as a new personal security device for higher-risk transactions such as payments or transfers above a certain amount, adding third party payees, or changing personal details.