This Day On The Street
Continue to site
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

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 - Get Report), 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MA $96.99 -0.20%
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs