MasterCard introduces first security token card in Singapore
In collaboration with Standard Chartered Bank Singapore, the global payment service provider MasterCard introduced the first payment card in the world with security token using its’ Display Card Technology. This new payment card is similar with credit, debit and ATM cards but it will be embedded with a security token which used to authenticate online banking activities such as transferring or making payments above certain amount, increase payment limit, updating personal information, change password and adding third party payees.
Beginning from January 2013, Standard Chartered’s online banking and Breeze mobile banking customers can opt to replace their existing credit/debit/ATM card with this new payment card which is lightweight and only 0.1cm thick. The card combines the protection against potential online fraud and convenience whereby the users are not required to carry additional device.
The MasterCard Display card is manufactured by NagraID Security, a US producer of multi-component card for the security and identification industry and it embedded with a LCD displat and touch sensitive buttons which allow a cardholder to generate a One-Time Password (OTP) as an authentication security measure.
by Alice Lee