Stanchart with MasterCard launch card with touch-sensitive buttons
(9 November 2012 – Singapore) MasterCard Worldwide, in collaboration with Standard Chartered Bank Singapore (Stanchart) has unveiled the country’s first interactive payment card, or security token card.
The MasterCard Display Card, manufactured by NagraID Security, looks and functions almost exactly like a regular credit, debit or ATM card, but features an embedded LCD display and touch-sensitive buttons to allow a cardholder to generate a One-Time Password (OTP) as an authentication security measure.
At present, banking institutions that necessitate a higher level of security for their online banking services require the use of a separate authentication token or device.
The innovative two-in-one device, which combines the functionality of a standard payment card with a state-of-the-art security token, currently reflects the customer's OTP.
In future, this card could incorporate additional functionalities and be able to indicate other real time information such as available credit balance, loyalty or reward points, recent transaction, and other interactive information.
From January 2013 onwards, all Standard Chartered Online Banking or Breeze Mobile Banking users will use the Standard Chartered security token card as a new personal security device for higher-risk transactions such as payments or transfers above a certain amount, adding third party payees, or changing personal details.
MasterCard Display Cards are being deployed in increasing numbers by innovative banks all around the world, with Standard Chartered Bank launching the largest deployment of Display Cards to date.
All MasterCard Platinum and Bonus$aver credit cards as well as MasterCard Super Salary, XtraSaver, Bonus$aver debit cards issued in Singapore will now be Display cards.
At present, banking institutions that necessitate a higher level of security for their online banking services require the use of a separate authentication token or device.
The innovative two-in-one device, which combines the functionality of a standard payment card with a state-of-the-art security token, currently reflects the customer's OTP.
In future, this card could incorporate additional functionalities and be able to indicate other real time information such as available credit balance, loyalty or reward points, recent transaction, and other interactive information.
From January 2013 onwards, all Standard Chartered Online Banking or Breeze Mobile Banking users will use the Standard Chartered security token card as a new personal security device for higher-risk transactions such as payments or transfers above a certain amount, adding third party payees, or changing personal details.
MasterCard Display Cards are being deployed in increasing numbers by innovative banks all around the world, with Standard Chartered Bank launching the largest deployment of Display Cards to date.
All MasterCard Platinum and Bonus$aver credit cards as well as MasterCard Super Salary, XtraSaver, Bonus$aver debit cards issued in Singapore will now be Display cards.
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