The credit card has touch-sensitive buttons and the ability to create a “one-time password” – removing the need for a separate device sometimes needed to log in to online banks The card will be available from January, after being rolled out globally.

The new credit card system is considerably more secure than typical static username and password systems that most common Singapore banks use, with many people finding using security tokens cumbersome. The new system is is looking to replace the SMS version and keyring provided by the banks.

Eventually, the card could display information such as loyalty or reward points or recent transaction history, with future versions of the card could display added information such as the remaining balance.

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