MasterCard Experimenting With Card That Displays One-Time Password
Written by Evan SchumanIn a MasterCard experiment announced this month with a bank in Turkey, the payment powerhouse has radically revamped what a credit or debit card should look—and act—like. Beyond a one-time-password displayed on a small screen on the card itself (which has been prototyped for years but never mass deployed), the trial cards will be able to display account balance, current loyalty points balance, updated credit/spending limits and a list of recent transactions.
“Turkish bank TEB, a subsidiary of BNP Paribas, will be the first issuer to bring the display card to consumers with a Maestro eCommerce authentication programme that kicks off in July across Turkey, with new features to be added onto the card in the near future,” said a statement from MasterCard Europe. “The UK’s Newcastle Building Society has also committed to the first pilot of the balance display functionality later this year.”
2 Comments | Read MasterCard Experimenting With Card That Displays One-Time Password
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June 17th, 2010 at 8:04 am
If Mastercard puts a One-Time password display on their credit card along with a personal PIN number only known to the user, I would be delighted to use this card for everything ONLINE – and most everything else except restaurants and retailers that physically take your card to do the data entry.
June 21st, 2010 at 10:11 pm
Great solution for card not present merchants. This right on the heels of Visa announcing a very similar technology. Time for a technology upgrade in the U.S.. Requiring this should greatly reduce the dollars involved in liability for loss when in the event that a merchant is breached.