News from the credit card area



The classic credit card could soon be a thing of the past, because technology has now also entered the credit card sector. Mastercard now has a completely new type of credit card that could be interesting for many customers. The new card doesn’t just have a chip on which the data is stored. Instead, there is an integrated display that is supplemented with a keyboard. Since the time of the mobile phone at least, we have known that it does not necessarily take up much space to accommodate a display and a keyboard. Therefore, it is not to be expected that the new Mastercard will definitely be significantly larger and may no longer be able to be placed in the wallet.

 

Company’s wish is primarily in the area of ​​increased security

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The aim is to integrate an authentication system directly into the card. It is possible to create a password directly on the card. The various transactions can then be carried out with this password. If the card is lost or stolen, it is now even harder to make a purchase with the card or otherwise use the credit card. How the generation of such a password works cannot be summed up in one word. In fact, it is about putting the password together not just on one basis, but on several, so that it is difficult for fraudsters to find out the password with technology. The account number can play a role as well as other factors.The credit cards are currently being gradually issued to customers who are interested.

 

The idea behind the passwords

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However, the idea is interesting and it is therefore interesting for us to take up this blog. The idea of ​​passwords in particular can ensure that security with regard to credit cards is increased. By generating new passwords again and again, similar to the procedure with TANs, the user of the credit card is prevented from keeping his password or PIN together with the card.

 

Other possible highlights

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It was reported a few years ago that Mastercard may be planning to use more than just the display and keys to generate passwords. It is also quite possible that the current account balance is shown on the credit card account via the display itself or that the points collected with the card can also be viewed in a bonus system. So the user of the credit card always has everything at a glance.

So it will be interesting to see how the idea develops and whether it can still prevail in the long run.