Credit and debit card manufactures are working on giving payment cards a face lift, literally. Talk of inserting a small LCD screen displaying passwords and account balances is in the works, according to a report on creditcards.com. For enhanced identity security, there is the possibility of a three-dimensional, 360-degree video of the card owner and a sample of the owner’s voice.
Physically, MasterCard’s new card will look like a standard-issue debit card with a small rectangular LCD screen in the upper right corner and an integrated “press” button in the lower right. The press button will generate a one-time pass code that helps prevent fraud in online and telephone transactions in the case of card-not-present situations.
Visa differs in that there is a LCD screen and 12-button keyboard on the back of the card. The keyboard is meant for the user to enter their PIN and the screen will display single-use pass code for card-not-present transactions.
Credit card companies are looking for a way to boost income and differentiate their cards from their competitor, however the added security benefits may make the new technology in credit/debit cards very marketable to U.S. consumers.
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