The MasterCard press release dated November 06, 2012 titled “MasterCard Introduces Next Generation ‘Display Card’ Technology is quite interesting yet have a flashback!
The launch of the interactive payment card with built-in display and touch-sensitive buttons for enhanced control and security by MasterCard may be called a first for Singapore! However, it reminds me news that not only a payment technology provider Giesecke & Devrient (G&D) launched such interactive cards in November, 2010; and VISA in November, 2011 but MasterCard itself has already claimed to launch the similar type of product in Romania in November, 2011. This press release should also cover the historic perspective so that reader may have a better idea about the new or improved features.
Rather the launch of such card by MasterCard in Romania was more ambitious as it claimed to have touch-sensitive buttons which generates one-time passwords for online purchases, shows the account balance and transaction history. Fikret Ates, the then head of added value solutions at MasterCard in November, 2011 said that there had been “overwhelmingly positive” feedback from banks and customers. We will also continue to explore other applications of this card technology to bring even more security, control and convenience for the cardholder. MasterCard Display Cards represent a new era in card payments. ”
In 2011, NagraID Arrow Secure Card (NASC) also claimed to launch credit and debit cards equipped with a high contrast, ultra-fast LCD flexible display for online transactions and it was estimated that in 2011 alone, Turkey and Taiwan were amongst 29 countries which were using over 1.5 million cards equipped with the LCD display technology.
Month of November seems to be the month of launching the interactive payment cards. It is important to mention that MasterCard must have the experience of launching this type or product in Romania so do the Visa; hence, it is hoped that this will result in better user experience as their technology would have been improved with the passage of time. More secure and interactive ways needs to be explored e.g. enabling people to draw more complicated password images.
