MasterCard Europe has introduced a new debit card that has a small display window and touch-sensitive button, thus allowing the cardholder to view the information such as dynamic passcode, account balance and spending limit.
Reportedly, the new display debit card will be issued by Turkish bank TEB, a subsidiary of BNP Paribas, with a Maestro eCommerce authentication programme that will start during in July across Turkey, with plans to add additional features in the near future.
MasterCard said that in association with TEB, it plans to add new features that include view account balance, dynamic passcode, current loyalty points balance, list of recent transactions, updated credit/spending limit and the amount of the current transaction, with transit ticketing information.
According to MasterCard, UK’s Newcastle Building Society has also interested to pilot of the balance display functionality later this year.
MasterCard has selected Switzerland-based NagraID Security (NIDS) as the technology partner for this program.
Jorn Lambert, group head of core products at MasterCard Europe, said: “The card truly encapsulates our belief that simple to use technology is the key to unlocking the door to simpler cash-free payments. 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: “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 programs.”