MasterCard to offer new “smart” credit card
Over the last year, there have been a number of high-tech credit card offers released to the public, the most notable of which was a credit card issued by Dynamics and Citigroup that allows consumers to switch between checking and savings accounts with the click of a button.
However, this week, MasterCard announced plans to issue credit cards with embedded computer screens. These new credit cards would be able to show consumers their current account balance, available credit and even their recent transactions.
The cards are being manufactured by NagraID Security, and represent the culmination of years of effort by the company’s staff to place a computer screen inside a consumer credit card, MSNBC reports.
“It wouldn’t change the habits of those that have plenty of credit or money in their accounts … but it would change the spending habits of those who don’t, and they would more than likely spend less,” Avivah Litan, an anaylst for IT research and consulting firm Gartner, told the news source.
The card would give cash-strapped consumers, and those suffering from high credit card debt, the opportunity to check their balance frequently. In addition, it could help many shoppers avoid fees and monthly minimum charges recently introduced by major banks.