MasterCard has joined forces with Taiwan’s
Bank SinoPac to unveil the world’s first interactive credit card in
a bid to drive consumers towards mobile payments.
A ‘SinoPac Display Card’ cardholder can tap a
button on the credit card revealing a six-digit screen in the top
right corner which serves as a one-time password.
MasterCard claims the embedded technology
provides better security and convenience for the cardholder and
eliminates the need to wait for a text message while doing a
non-predesignated account transfer.
“Bank SinoPac is honoured to be the first bank
in the world to adopt this innovative technology with a display
card in the credit card sector,” said Desmond Jiang, president
& chief executive of Channel Marketing, Bank SinoPac.
“We believe that this initiative will lead
consumers in Taiwan towards more advanced and user-friendly payment
solutions including mobile. Bank SinoPac will continue to
strengthen its capabilities by developing more products that
integrate technology with financial management, providing consumers
in Taiwan newer, better and safer payment methods.”
MasterCard’s ‘SinoPac Display Card’ allows
cardholders to take advantage of mobile financial services such as
online transactions using 3D authentication security and
non-pre-designated account transfers.
“With consumers looking to shop online and
transact using their mobile phones, our role is to foster a safe
and convenient environment for cashless payments,” said Yunsok
Chang, group executive, Global Products and Solutions,
Asia/Pacific, Middle East, and Africa, MasterCard Worldwide.
“The new display card is a milestone for
MasterCard as we innovate and work towards marrying technology and
functionality in payments.”
The ‘SinoPac Display Card’ follows the launch
of the first MasterCard display debit card with Turkish Bank TEB, a
subsidiary of BNP Paribas, in June this year. Swiss-based security
specialist NagraID Security was selected by MasterCard as the
technology provider for both programs.