| December 9, 2010

Credit card companies test new interactive cards

Consumer credit cards have been getting high-tech updates in recent months with a number of additions coming to the traditional credit cards, which aim to make banking more convenient for cardholders.

Just this week, MasterCard and NagralID announced a new innovation, marking what the companies say is the world’s first interactive credit card.

The new display card would allow consumers to protect the cards with multiple levels of password protection and the ability to switch funds between accounts, the companies say. Owners of these new debit and credit cards would also be able to check their balances on the go, without having to stop at a bank or an ATM before purchases.

“The new display card is a milestone for MasterCard as we innovate and work towards marrying technology and functionality in payments,” said Yunsok Chang, group executive at Global Products and Solutions.

The cards will soon begin to enter the markets in both Asia and in Europe, though there is no word yet when the new innovations will become available to American customers.

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