MasterCard Experimenting With Card That Displays One-Time Password

In a MasterCard experiment announced this month with a bank in Turkey, the payment powerhouse has radically revamped what a credit or debit card should look—and act—like. Beyond a one-time-password displayed on a small screen on the card itself (which has been prototyped for years but never mass deployed), the trial cards will be able to display account balance, current loyalty points balance, updated credit/spending limits and a list of recent transactions.

"Turkish bank TEB, a subsidiary of BNP Paribas, will be the first issuer to bring the display card to consumers with a Maestro eCommerce authentication programme that kicks off in July across Turkey, with new features to be added onto the card in the near future," said a statement from MasterCard Europe. "The UK's Newcastle Building Society has also committed to the first pilot of the balance display functionality later this year."