The UK's Newcastle Building Society will follow BNP Paribas subsidiary TEB, a Turkish bank, to introduce a Mastercard-issued smart card with integrated displays to authenticate clients and provide them with access to their account information.
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Mastercard and Swiss card maker NagraID Security launched the display card earlier this month. TEB will be the first issuer to bring the display card to consumers with Maestro e-commerce authentication. The programme starts in July across Turkey. The bank will pilot the balance display function later this year and expects to add new features to the card in the near future.
The cards look and feel like a normal credit or debit card but have a small display and a button that enables card holders to use the same card for standard banking payment functions and to generate second-factor one-time passwords to provide strong authentication.
The password generation technology complies with MasterCard's 3D secure chip authentication programme. An optional touch-sensitive keypad with twelve keys permits access to advanced functions, such as electronic signature and authentication. It has enhanced security features such as challenge-response applications and PIN code card protection. This will allow banks that issue one-time password tokens to replace them with the NagraID cards.
NagraID CEO Cyril Lalo said volume distribution by Mastercard would reduce the price of the cards and help accelerate the move to secure cashless online financial transactions.