Master Computers | Rejuvenate

Rolled out in Singapore this month is a new, more secure way to carry out your online banking from Mastercard. Their new credit cards come fully fitted with a keyboard and an LCD screen.

But before you sell your tablet and laptop to make what little space you would need, this isn?t a computer you can update your Facebook and watch your movies on- it replaces the old, traditional device for logging in to your online banking account with the bank.

The card is fitted with highly accurate, touch-sensitive buttons and allows the entry of a one-time password to provide the code needed to access your bank account online. You will still need a computer to access this- and still live in Singapore, but if this is a success the technology will be shared with the rest of the world pretty soon.

Having your logon attached to the card of the account does provide an element of convenience not possible before, however experts are quick to point out that this also adds additional security to the process. By always having your card on you, you always have your login device.
In the long-term, Mastercard hopes this will be developed into a more useful application for the card, including showing your recent transaction history, the balance of the account and any loyalty points you might have attached to the card.

However, this technology is not without competition. VISA may have released a similar card not so long ago, but the smartphones are the real worry for Mastercard. They may be able to provide a login and eventually, easy access to account information application for their cards, but what if you could pay for your items without even having a card?

NFC, Near Field Communication is not a particularly new technology or advancement. People are programming their air-conditioning and wash cycles with it, and purchasing coffees and other tasty goods, simply by brushing their phone over a sensor. This has been well received across the globe and more smartphones seem to be offering it by the day. Remarkably, the iPhone5 did not, but that?s another story.

So, two convenient and secure ways to pay and keep track of our spending. Which shall prevail? Only time will tell. But with Mastercard only releasing this capability in Singapore, they are rather at a disadvantage for the time being.

Published 11/15/2012

Source: http://rejuvenate.it/master-computers/

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