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Next generation of bank cards: with displays…
Published 14 November 2012 by Matthew Plant
The 'next generation' of bank cards come with a display - and even touch-sensitive buttons. So what do they offer cardholders?
A new kind of bank card has been introduced: the MasterCard® Display Card. In fact, there are two versions.
One has a tiny LCD screen that can display customers' balance information.
The other one has touch-sensitive buttons as well, so it provides extra security for online banking and shopping.
When the cardholder enters their PIN, the card generates an OTP: a One-Time Password, which only works for one transaction. Today, a lot of people use a separate 'authentication device' to do that (which tends to look like a small calculator), but the new card means they can do it when they're out and about - without needing to carry a separate device around with them.
It also means criminals can't use stolen card information to get at the funds in someone's bank account. They'd need to have the card itself, which means the cardholder would be likely to notice a lot sooner.
That's just a start. In future, the cards' screens could display other kinds of 'real-time information', from train tickets to loyalty points and recent transactions.
This technology has just been introduced in Singapore, so it's a question of waiting to see how quickly it becomes commonplace on this side of the world.
A spokesperson for thinkmoney commented: "It's always exciting when you see new technology offering real benefits that people can use in day-to-day life.
"Of course, cards aren't the only thing people tend to carry with them everywhere. How many people leave home without their phone these days? The thinkmoney Managed Current Account provides SMS services to help our customers stay informed and in control: they can send a quick text to find out their current balance, get details of their last five transactions - and even request changes to their account."
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