Jun 4, 2010 04:02 AM Pacific – MasterCard Europe has unveiled a next generation debit card – with the first roll-out of a new display payment card. According to the company, “Turkish bank TEB, a subsidiary of BNP Paribas, will be the first issuer to bring the display card to consumers with a Maestro® eCommerce authentication programme that kicks off in July across Turkey, with new features to be added onto the card in the near future. The UK’s Newcastle Building Society has also committed to the first pilot of the balance display functionality later this year.”
The ‘Display Card’ represents the next generation of payment card, providing the first interactive card in the market. It can work like any other payment card but has a small display window and touch-sensitive button. The cardholder can see information – numbers and/or text – on the small visual display, such as a dynamic passcode, an account balance and a spending limit. MasterCard selected Swiss-based security specialist NagraID Security as the technology partner for the programme.
TEB is the first bank in Europe to launch the new technology with authentication functionality and will add new features on the card in the near future.
“The card truly encapsulates our belief that simple to use technology is the key to unlocking the door to simpler cash-free payments”, says Jorn Lambert, Group Head, Core Products, MasterCard Europe. “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.”
Bulent Ersoz, Card Payment System Director for TEB said, “We are proud to be the first bank to bring this new card to consumers here in Europe. This pilot kicks off with an initial offering to test authentication functionality but we are already looking towards further phases when we will test the additional functionality of the card in other card programmes. As we strengthen our eCommerce capabilities, we already have an eye to the future, where the card is the portal to so much more for our customers.”
SOURCE: PAYMENTS NEWS
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