New ‘Display’ Debit Card Facilitates Secure Online Purchases
June 7, 2010
MasterCard Europe announced that a Turkish bank would be the first to issue the company’s new “display” debit card that enhances online security. Istanbul-based TEB, a subsidiary of French bank BNP Paribas, will be the first issuer to leverage the technology, launching an e-commerce authentication program connected with its Maestro debit card in July, according to a press release. MasterCard said it has been working on display card functionality for more than a year and believes that this technology has matured to a level appropriate for use on MasterCard branded cards. The Purchase, N.Y.-based card network said the ability to display account balances on payment cards garnered a very favorable response in recent research and the feature could reduce costs for issuers as well. For Card Not Present merchants, the remote authentication functionality for debit cards facilitates secure remote online transactions, according to the release. The new card technology provides issuers an additional authentication solution option to facilitate SecureCode based remote transactions, as well as providing an optional device either to replace or work in parallel with existing CAP readers (chip authentication) devices currently offered by banks to cardholders in Europe.