Debit/credit: MasterCard and Banca Monte Paschi Belgio Launching a Dual Card
MasterCard and Banca Monte Paschi Belgio are unveiling their new debit/credit Maestro card embedding an LCD display screen.
Their PayPass-enabled PaschiCombo card is to be launched in Belgium on 5th of November. Cardholders will be prompted by the POS device to opt for credit or debit payment in store.
First of its kind in Belgium, the front face of the card displays a button allowing the users to generate OTPs to secure online transactions.
All customers will be proposed this card, the cost of which is to be set according to their credit line: from 25 euros for a 0 euro limit to 75 euros for 2,500 euros.
Source: Press release
The all-in-one PaschiCombo card makes the difference on the payment card
market through including a wide variety of facilities. The debit/credit
card is accepted worldwide through MasterCard/Maestro’s acceptance
network, and encompasses contactless as well as online transactions
The security option resembles Gemalto’s Ezio cards
(see November 2010 Insight) or Visa CodeSure and MasterCard Display
Card, but PaschiCombo also adds in all the current main trends. The
oldest bank in the world is highlighting its will to bet on innovative
Belgium is reasserting its interest in one-time
password generators, also showed in September 2011 through ING’s rollout
of Ezio One-Time Password reader, for example.