MasterCard introduces LCD display cards

LCD display screens are approved

MasterCard has given the go-ahead for a whole new generation of LCD display cards, which could change the face of banking technology forever. NagraID Security, a subsidiary of the Kudelski Group, developed the cards for MasterCard and the multinational corporation has just announced its approval of the cards.

Each bank card contains an integrated display screen which shows the card balance and optimises security for online transactions due to the strength of owner authentication.

MasterCard's approval of the LCD display cards demonstrates the required levels of durability, safety and compliance to ISO standards which are obligatory for the commercial launch of financial cards and the introduction of these into MasterCard's brand standards and rules.

Aesthetically there are very few visible differences between the new LCD display cards and regular credit/debit cards. However, there is an additional small display on the card and a button which enables card holders to use the same card for standard banking payment functionality and to generate second-factor one-time passwords (OTPs), thereby providing strong authentication, reported Business Wire.

The future for bank cards

"Cards were born from cardboard, they've been 'mag striped' and 'chipped' and now we enter their silicon age, with an LCD display and touchpad opening up a multitude of possibilities," said Eric Tomlinson from MasterCard Europe. "With NagraID's recent achievements to demonstrate compliance to industry standards, the stage has well and truly been set to deliver the next generation consumer's card proposition."

The LCD display cards are simple to use and very reliable, MasterCard insisted, and they offer optimal security to achieve banking transactions outside payment terminals using one single device. The password generation technology utilised by the LCD display cards complies with the requirements of MasterCard's 3D Secure Chip Authentication Program (CAP).

There are also, however, additional security and functionality options available to card-users, including the option to install a touch-sensitive keyboard with 12 keys, which allow access to advanced functionality such as electronic signature and authentication modes. There are also enhanced security features such as challenge-response applications and PIN code card protection.

According to Philippe Guillaud, Executive Vice President and CTO of NagraID Security: "This display card is designed to provide a very high level of security and reliability as well as ease of use. Users simply press a button to generate an OTP for secure access to their online services."

He added, "The programmable nature of this platform makes it future proof and one can expect to see even more exciting and fantastic functionality in the near future."

The excitement generated around the new LCD display cards is palpable at both MasterCard and NagraID Security and Jorn Lambert, Group Head of Core Products at MasterCard Europe drew attention to the potential benefits the new bank cards can have for the industry and consumers alike. 

"The card truly encapsulates our belief that simple to use technology is the key to unlocking the door to simpler cash-free payments" said Mr. Lambert. "Consumers are telling us that ease of use, control and security are required to replace costly cash. This card can deliver the levels of both information and security they seek."

Related links:

IT Security | Capturing Cash Transactions | Building a mobile payment model | A cashless society | Managing IT in Financial Services during the Credit Crisis

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