We don’t talk much about credit cards here which is strange given how often we’re buying things, but this looks quite cool.
MasterCard is working on some new cards designed to increase security and prevent fraud.
The Display Card takes a current credit card with both the back magnetic stripe and front gold chip and gives it a bonus: a password system.
This new security measure doesn’t require any extra passwords for you to devise. Instead, the credit card features a “press” button in the bottom right and a small numeric screen at the top of the card. When the button is pushed, your one-time password is generated and shown at the top for use in online and over-the-phone shopping.
Another new card adds touch to credit security with the inclusion of a tiny 12-button touch-sensitive keypad. This security measure would let you enter PIN activation codes on your credit card while still being able to generate the same one-time passwords that the aforementioned Display Card could use. A future use of this card is to allow owners to check their bank balance on the card itself.
A test is underway with a Turkish Bank to see how viable the cards are, but if proven successful, MasterCard aims to roll these out to the rest of the world in the near future.