Getting a customer to sign up for a copy of an old carbon identification number has not changed much since the advent of magnetic stripes and chip and pin systems.
But that seems to be changing, and with a bit of modernization, card makers and issuers are moving away from the card style that IBM engineer Forrest Paris was supposed to invent in the 1960s.
Today, the most obvious foot shift is a new and easy-to-use vertical configuration by turning the familiar wallet-shaped horizontal credit card sideways.
The Bank of South Africa (CAF) chief executive, Cowic Fox, explained why.
Think about how you will use your card when making a purchase. Fox “When you hand over your card to a cashier, touch it to make non-contact payments or insert it into a vending machine, perhaps holding it vertically at the end.”
Position makes it easy to tap
Most credit card transactions today are online, with no physical card, or using chip and pin technology, or tap to pay for non-contact systems. But those transactions are still taking place on the infrastructure built for the older generation Swiper, so the industry is strengthening itself to protect the taste of consumers by strengthening the protection behind the curtain.
“Standing position [is] “It’s easy to tap,” Master Sucmany Dave, vice president of digital products for Master Canada, told CBC News: “It’s a good design for many reasons for the user.”
Even if consumers think they owe money for the brand on their card, the debt is only borne by the person who issued the card with the master card, Visa or Amex transaction.
That is why Dave Master does not consider himself a credit company or a credit card company but is in the business of “payment technology”.
“Everything we do from a standpoint or a design perspective is to make choices and payments securely and securely,” she said.
A magnetic strip is on the way.
For cards, an Instagram-style portrait-mode orientation pizza design dash may be added, but the real reason for the change is that at the back end, tap-based fixed cards go a step further than in older systems.
Card-enabled activation cards are backed up by technology called Dave Tokening because the information exchanged in the transaction is unique to one transaction, making it very difficult for the fraudster to hack into any information. To corrupt an account and use it repeatedly.
“If you lose your card, we will replace that confidential 16-digit card information with a unique identifier that the merchant can still use to trade, instead of deleting your netflex, but not your real 16-digit number.” She said. “It’s dynamic.”
Visa-free credit card transactions increased by more than one billion worldwide in the first quarter of 2021, according to Visa.
Years ago, MasterCard passed the requirement to have a signature to verify transactions, and the company said it was time for a magnetic strip. From 2024 onwards, all new MasterCard cards will no longer be part of their magnetic strip, and the company will completely lose the technology within a decade.
There are already biometric technology cards out there, so don’t be surprised if your next credit card requires a fingerprint instead of a signature or familiar swipe.
Virtual going
Beyond security, the transition to a new card style is recognizing that the digital world is playing a major role in user engagement patterns.
Well-known Canadian retailer HBC has released a direct credit card this year. It not only converts the user’s smartphone into a virtual credit card but also physically.
All HBC stores are in the process of adopting untouched payment options, the company said in a statement.
When Apple released its award-winning credit card in 2019, the physical card was basically intended because all of the card’s functions were built into Apple’s customer-enabled devices. If someone wanted a physical card, they had to ask for one.
According to data from First Debit Card Company, consumers who use debit cards use their credit card 25% more than other cardholders and spend a quarter more on them.
Improvements for accessibility
There are other benefits as well. Global Bank HSBC has won a standing card this summer by various access groups for enhancing the visuals for visually impaired people and making them easier to read card details.
“Even something as simple as knowing how to go about the card can be a real challenge,” said Morvin Lynn, spokesman for the British Alzheimer’s Society.
“These accessible cards are an important step in making people living with the disease feel supported and seen as equal members of society.”
The reason why the industry is always adapting is the desire to keep up with the latest and greatest customer service, says Dave, which is why MasterCard thinks the best credit card is not easy for the customer.
“No one is awake, wondering how they can expect to use the card in the morning,” she said. “So we constantly innovate in the field of physical card design … we go to what design really does.”