MasterCard continues to establish strong mobile commerce presence
Financial giant Mast
erCard continues its steady march into the world of mobile commerce with the release of a new credit card that could change the way people pay for products. Mobile commerce is poised to become a big part of the lives of consumers, many of whom are turning to their mobile devices for daily services and connectivity. As consumers become more dependent on their mobile devices, companies in the technology and financial industries are looking to establish a stronger presence in mobile commerce. MasterCard is poised to up the ante, so to speak.
Display Card combines smart phone technology with a credit card
The financial institution has revealed a new credit card that is equipped with a touch-sensitive keypad and an LCD display. MasterCard calls the products, simply, “Display Card.” The Display Card is very much like a smart phone in concept, but more akin to a traditional credit card in appearance. The card will function in much the same way MasterCard’s other products do, but will also have a use in mobile commerce. The keypad exists to allow users to authorize large purchases through the input of a password, while the LCD screen provides limited information concerning the purchase and the amount of money due.
Display Card on trial in Singapore
Currently, the Display Card is available only in Singapore. The card is currently being tested for its viability to various demographics of consumers in that country. Thus far, the card has been somewhat popular amongst the wealthy, but many other consumers seem to prefer their mobile devices when making a purchase of goods. Those without smart phones largely rely on traditional forms of commerce, such as bank cards or physical currency.
MasterCard could add new features in the future
Though the features of the Display Card are somewhat limited currently, MasterCard suggests that there are many things that can be done to the card in the future. Additional features can be added to the card to help it appeal more to consumers, allowing them to check their bank account balance for example. How this will affect the company’s place in the highly competitive mobile commerce business has yet to be seen.
merce industry is growing quickly, backed by massive competition in the mobile wallet sector. Mobile wallets are payment platforms for smart phones and other NFC-enabled devices that allow consumers to make purchases for goods without using traditional currencies. As competition in the mobile payments sector grows, the companies involved therein are beginning to feel the pressure to appeal to consumers in a more decisive way. Isis, which was officially launched late last month, is beginning to expand in the U.S., with the help of Gilbarco Veeder-Root, makers of high-quality fuel dispenser systems, and Wayne, a branch of GE Energy.