Tech: An LCD Screen And Keypad On A Bank Card
November 14, 2012 by Dave Haynes
I have a tag-team presentation thing for an executive group at the end of the week, with my Mr. Smartypants portion devoted to emerging technologies that affect shoppers. One of the things I will be focused on is how display technology is evolving ion such a way that there will be screens just about everywhere.
However, I never quite though they’d be on bank cards.
Mastercard will release in the new year its Display card, a credit card that has the same form as regular cards and does most of the normal things – but also has a built-in keypad and an LCD display. The keypad functions as a special key generator to produce random codes that add another layer of security on the card and transactions.
“In Singapore, many customers bank with multiple banks. We brainstormed on ways to make it convenient and yet secure for customers,” says V. SUBBA, Head of Retail Banking Products for the Standard Chartered Bank in Singapore and Asia, in an interview, related in MobileMag. “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 new card is intended for high-risk transactions, such as when transferring large sums between accounts or for when dealing with business requests and purchases. The screen will also display account details like the balance.