MasterCard in conjunction with Bank SinoPac in Taiwan, took an innovative step towards offering heightened payment security and convenience for consumers by unveiling the world's first display credit card, the MasterCard “SinoPac Display Card”.
As e-commerce has become an increasingly significant driving force in the global economy, the demand for payment security has never been keener. With the introduction of the MasterCard “SinoPac Display Card”, consumers in Taiwan get to be the first in the world to enjoy the security and convenience of leading-edge interactive credit card payment technology. Cardholders can now take advantage of a wide range of mobile financial services, such as online transactions using 3D authentication security as well as non-predesignated account transfers. Swiss-based security specialist NagraID Security has been chosen as the technology provider for the program.
MasterCard Unveils World's First Display Credit Card work towards marrying technology and functionality in payments. The MasterCard “SinoPac Display Card” in Taiwan is the first such program in the world on a credit card for MasterCard, and an extension of our success in Europe in June when we launched the first display debit card for Maestro. We thank Bank SinoPac and NagraID Security for making this innovation possible.” In June this year, Turkish bank TEB, a subsidiary of BNP Paribas, was the first issuer to bring the display card to consumers with a Maestro® eCommerce authentication program. It was the first display card for MasterCard debit cards.
How it works The display card is the first interactive payment credit card on the market. The one-time password (OTP) security technology with two-factor authentication represents the state of the art in security maintenance. When a cardholder lightly taps a button on the credit card, a six-digit screen at the top right corner will display a one-time dynamic password. The embedded technology also provides better security and convenience for the cardholder and eliminates the need to wait for a text message while authorizing a non-predesignated account transfer.
Desmond Jiang, President & Chief Executive of Channel Marketing, Bank SinoPac said, “Bank SinoPac is honored to be the first bank in the world to adopt this innovative technology with a display card in the credit card sector. We believe that this initiative will lead consumers in Taiwan towards more advanced and user-friendly payment solutions including mobile payment. 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.” Yunsok Chang, group executive, Global Products and Solutions, Asia/Pacific, Middle East, and Africa, MasterCard Worldwide said, “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. The new display card is a milestone for MasterCard as we innovate and MasterCard Worldwide –
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