This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Credit Card With a Keypad Arrives ... In Singapore

NEW YORK (TheStreet) -- U.S. consumer credit card debt stands at $793 billion, according to the Federal Reserve, with the average consumer credit card at $15,799.

With that amount of cash on the table, credit card carriers are constantly one-upping each other to grab more market share. But the latest innovation, a "keypad" credit card from MasterCard (MA), may be a game-changer for the industry and consumers.

The credit card was released in Singapore this week, with MasterCard touting it as the words "first interactive payment card" that "heralds the next generation" of credit cards.

The card is a technology buff's dream.





Formerly known as the MasterCard Display Card, the card offers the look and feel of a traditional credit or debt card, but has a twist: an embedded LCD display and touch-display buttons that allow consumers to enter a password.

The card replaces the ubiquitous magnetic stripe with a microchip that contains the card owner's account information. The LCD display and keypad enable users, for now, to enter a one-time password that MasterCard says makes the card much more secure against theft or fraud.

But MasterCard says the keypad feature can grow to includes such things as the ability to check account balances, card reward point totals and data on recent transactions.

The company says the card represents the next generation of credit cards, especially in an era credit card thieves are getting more brazen and creative.

"With the continued growth in online and now mobile initiated remote payments, consumers are naturally demanding increased security," says Matthew Driver, president of MasterCard Worldwide in Southeast Asia. "The innovative features of the Display Card serve to address this need, whilst empowering consumers to do so much more with their payment cards."

According to data from J.D. Power & Associates, card fraud is the No. 1 problem cited by credit card consumers.





Card carriers and banks have made significant strides in fighting fraud, but the MasterCard display card offers the ability to shut down scam artist altogether.

For now, the card is only available in Southeast Asia. But don't be surprised if the "keypad" credit card makes its way west to Europe and the U.S., and to a bank near you.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs