Move over standard credit cards this is what’s around the corner
Welcome to our blog page! Although most of the time our blogs will be relevant to our industry some of the time we will write about general technology or just things we see and want to share. For example we saw this and thought it looked quite interesting:
A credit card with an LCD display and built-in keyboard has been launched by Mastercard in Singapore. The card will be available from January before being rolled out globally.
The card has touch-sensitive buttons and the ability to create a password, eliminating the need for a separate log in device for online banking. It is thought that future versions of the card could display added information such as the remaining balance.
While considerably more secure than typical static username and password log-in systems, many people find using log in devices inconvenient given the need to keep it with them in order to use online banking. Mastercard’s interactive card aims to solve that issue. It will be interesting to see if users instantly trust this service.
Improving the portability of secure banking is a continuing priority for the world’s credit card firms. Eventually, the card could display information such as loyalty or reward points or recent transaction history. Last year, Visa announced a similar card with interactive functions.
However, smartphone manufacturers will be hoping that enhanced credit cards will be quickly replaced by NFC – near-field communication – alleviating the need for physical payment cards altogether. At Paralogic data security is of upmost importance therefore as long as security of these systems keeps improving this has got to be a positive. Watch this space!