New Credit Card Includes Display and Keypad

First time accepted submitter pev writes "A new credit card released in Singapore includes a screen and keyboard in order to generate one-time passwords for your online banking. From the article: 'The card has touch-sensitive buttons and the ability to create a "one-time password" - doing away with the need for a separate device sometimes needed to log in to online banking. Future versions of the card could display added information such as the remaining balance.' Lets hope they've put more thought into the implementation than with chip and pin."

similar to Sweden, where all banking is electronic

[acidfast7]

No personal checks in Sweden, so all person-to-person transfers are done in cash. However, banks won't take huge piles of money ... say anything over €500 ... so all of the those transfers are done electronically. When I sold my used bike, we met and did the transfer electronically at a cafe via mobile phones. The biggest difference was that you had to the put the credit card into a device that looks like a calculator and enter a number from the banking website into the card-inserted device. The number returned is that entered into the web to authenticate the transfer. This just does it all on one credit card, which is GREAT.

Re:similar to Sweden, where all banking is electro

[acidfast7]

They are advanced. Everything is electronic. All train tickets, most plane tickets, and most subway tickets can just be done with the mobile phone (no paper needed).

They're REALLY pushing for a cashless society and making significant progress. Everyone is paid on the same day (25th of the month) after all.

To be honest, it's much more of a hassle in Germany and a total nightmare in the US, compared to the simplicity in Stockholm. Once you get up and running, it's super easy.

Re:What am i missing?

[DZign]

I saw these (or a similar type) last year here in Belgium when I was part of a test panel/opinion group.

Basically it was all possible types of payment systems thrown together in one card.

It had the debit card system we have here (Maestro / Bancontact), but at the same time you could use it as a credit card too (Visa / Mastercard). Most people in the group found this a good idea as all had multiple cards in their wallet.

As you can see it has the keypad type thing for extra authentication on the internet so you don't need an extra device for it. Nice, but less useful. Not everyone had a need for it, and we didn't get technical details about how secure it was or how it worked.

It also had some kind of contact-less system we don't have yet in Belgium but they said it was used in France. Small payments you could just make by holding your card above a reader, no need to enter a pin. As we don't know this, most found it insecure.

It also wasn't known if you could deactivate certain things or always had all features - like only use the debit/credit card combination but not the touchless thing.

I remember one disadvantage: the 'buttons' you had to push to generate the nr were difficult to operate. Had to push hard in exactly the right spot. Don't think elderly people could get along with it.

Technically I was impressed with this card for having battery electronics and lcd in it, as it was very thin and still flexible.