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Commentary: Mastercard plans to get rid of credit card numbers. We could be heading towards the end of cards

Summary by Channel News Asia
Considering the speed at which smart retail and payment technology is entering the marketplace, it is likely physical credit cards, numberless or not, will soon become redundant, replaced by biometric payment options, say these Queensland University of Technology academics.

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Channel News AsiaChannel News Asia

Commentary: Mastercard plans to get rid of credit card numbers. We could be heading towards the end of cards

Considering the speed at which smart retail and payment technology is entering the marketplace, it is likely physical credit cards, numberless or not, will soon become redundant, replaced by biometric payment options, say these Queensland University of Technology academics.

·Singapore
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pokonews.compokonews.com

Commentary: Mastercard plans to do away with bank card numbers. We could possibly be heading in the direction of the top of playing cards

WILL WE REALLY NEED CARDS IN THE FUTURE? Whereas eradicating the numbers might scale back bank card fraud, rising sensible retail applied sciences might take away the necessity for playing cards altogether. Smartphone funds are already changing into the norm, eradicating the necessity for bodily playing cards. GlobalData revealed a 58 per cent development in cellular pockets funds in Australia in 2023, to A$146.9 billion. In October 2024, 44 per…

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PYMNTS.comPYMNTS.com

Legend, Legacy and the Future: Reflecting on 75 Years of Credit Cards and 20 Years of ‘Paying With Plastic’

By now, the story of the birth of the credit card has taken on the stuff of legend. The current state of that legend dates the key event to Feb. 8, 1950. That’s 75 years ago today. And here we are. Let’s first recount the legend. A man named Frank McNamara came up with the idea for a business account service in 1949 while having a business dinner in a New York City restaurant called Major’s Cabin. Problem: He forgot his wallet. Urban legend has …

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Channel News Asia broke the news in Singapore on Friday, February 7, 2025.
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