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Display Card has its own keyboard and LCD

MasterCard has been showing off a next-generation credit card called the Display Card. The name Display Card comes from the fact that it has a small LCD in the upper right-hand corner. In the lower left-hand corner is a small numerical keypad.

The credit card is designed for increased security and combines the functionality of a secure dongle that generates one-time passwords with a credit card, allowing users to carry one device rather than two.

The idea with the Display Card is that the little LCD will display the one-time password needed to complete certain online banking transactions. In the future, the card's capabilities can be expanded, and the small display can be used to show other things such as accumulated reward points, last transaction amounts, and even the credit card balance. The card is expected to be available from participating banking institutions in January.

"We brainstormed on ways to make it convenient and yet secure for customers," said V Subba from Standard Chartered Bank, which is collaborating with MasterCard.

"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."

The first customers likely to get the new Display Card are expected to be account holders at the Standard Chartered Bank locations in Singapore. There's no indication of when these cards might come to the U.S. or other countries.

Source: BBC News



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RE: Interesting
By kattanna on 11/9/2012 12:04:17 PM , Rating: 2
quote:
But so many possible failures I think...


I'm wondering if these will be cost effective to actually catch on. They cannot be cheap.. and what of the failure rate?

will be interesting to see how well they can work out in the field with the everyday user.


RE: Interesting
By NellyFromMA on 11/9/2012 12:35:21 PM , Rating: 2
I agree. As uninterested as I am in using my smartphone as a replacement for swiping my card, everyone is bound to have a smart phone, idk if anyone will want to fork over anything extra to have one of these cards.

If they hand them out for free, presumably consumers will pay in other ways (fees are the first thing that comes to mind).

Can't help but wonder if this is the credit card industries way of trying to remain relevant in a world that currently seems slated to do away with them in favor of more tech-based solutions.

Frankly, I think the world might be better if the credit card industries were replaced, but in reality, I don't see how that honestly ends up happening.


RE: Interesting
By Cheesew1z69 on 11/9/2012 1:12:26 PM , Rating: 2
I can't imagine they would be cheap at all.


RE: Interesting
By Master Kenobi (blog) on 11/9/2012 4:28:43 PM , Rating: 2
It doesn't cost more than a few dollars to manufacture something like this. Depends on if the credit card companies will pass that cost on to the consumer or write it off as less fraud cases to deal with = cost savings.


"And boy have we patented it!" -- Steve Jobs, Macworld 2007











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