updated 11/8/2012 2:56:06 PM ET 2012-11-08T19:56:06

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.

© 2012 TechNewsDaily


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