Nov. 8, 2012 at 6:06 PM ET
To some, the new "Display Card" from MasterCard may look like a cross between a pocket calculator and a credit card.
But the new design is meant to improve security, not arithmetic.
The card, which features a keypad and a liquid-crystal display, lets the cardholder generate a one-time password (OTP) to be used for transactions that require a higher level of authentication. Once the OTP is selected, it will be shown on the LCD.
Customers of the Singapore subsidiary of London-based Standard Chartered bank will begin to use the new card in January, MasterCard said in a statement.
Beyond improved security, MasterCard said the technology could be used to display account balances, rewards points, recent transactions and other banking information.
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Copyright 2013 TechNewsDaily, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.