Asking for opinions on electronic cards


(Aleksander) #1

Hello,

This will be my first contribution to the forum :slight_smile:

I wanted to check what are people thoughts about an ‘electronic card’?

FEATURES :
There are mainly three features that such a card has.
1 - Dynamic CVC - makes online transaction safer. The CVC number changes every hour and can only be shown after inputting the pin onto the card.
2 - Small display which can be used for:
a - showing card balance
b - two step-verification

MY OPINON:
1 - YES! Having a changeable CVC code is surely good for online (and via phone) translation security. However instead of having to input your PIN to see the CVC I would prefer the simpler version which requires only to press the on button. Surely it’s enough security to have a CVC changing hourly.
2 - NO! don’t see the sense of a display.

  • It can only display a few digits
  • There are issues with showing correct balance (especially during paypass transactions)
  • It’s ugly and we all love the simple design
  • balance can be easily accessible from the phone
  • 2-step verification (Barclay’s style phone app) could also be introduced to the app
    Finally, Mondo will hopefully introduce ApplePay and other e-wallets integration. Moreover such card are surly more expensive than normal cards.

What is the community and Mondo’s opinion on that?

Best,

Aleks

Sources and more info:
https://www.nidsecurity.com/products/mastercard.html





(James Billingham) #2

Things like that rarely benefit the cardholder. It’s more beneficial for the issuer. It will likely reduce fraud, but the cardholder is protected against all fraud anyway.

Some potential downsides could be increased manufacturing cost, lower reliability, poor usability, etc.