An article relating to this blog post on Finextra:
Visa and Emue Technologies deploy cards with built-in one-time password generator
The Visa Card with one-time code, being offered to issuing banks by Visa Europe and Emue Technologies, is an innovative new way of securing online payment and banking transactions - and building consu...
OTPs are of course better than static pin-codes. A move to require OTPs instead of the static pin-code will surely help eradicate card-present fraud.
Can such a card even be inserted into any chip and pin terminal? If so, I just can't imagine how I can use this card combo to: generate an OTP, try to remember the OTP, insert it into an ATM machine, then cancel the transaction just because I can't remember
I must admit that it does look nice. But other than that, I can think of many other reasons why a separate OTP device would make more sense.