Monday, November 14, 2011

Intel & MasterCard Join Forces to Enhance the Consumer Payment Experience for Online Shopping

 

Intel Logo.png
I've heard about this for a while  now from Google who has been working on this for a while and are now advertising it on the Mastercard website, but now the Ultrabook is getting this too.
We seem to be heading into a world where swiping a card may soon be going the way of the modem.
While Google is approaching it from the standpoint of using an Android phone to transmit credit card info to the credit card terminal, Intel is coming at it from a slightly different angle.
It all started with the PayPass system a while back.  That system utilized an RFID chip is a small dongle that was waved over a receiver.  This transmitted the pertinent data to the terminal and allowed for the card info to be placed into the terminal and the purchase price was charged to the appropriate account.
Now Intel has upped the ante a bit as they've added "another link in the security chain" and those of you who know me... know that I feel you can't have enough links in either your backup or security chains.
Now, I could type for the next hour or two and try to explain how this whole system works, but I'm also all about efficiency and not reinventing the wheel.  Because of that, I'm going to let the good folks at Intel explain it to you:
Intel and MasterCard Join Forces to Enhance the Consumer Payment Experience for Online Shopping

Collaboration to provide more options for a safer and simpler check-out process for online merchants and consumers

SANTA CLARA, Calif. and PURCHASE, NY – Nov. 14, 2011 – Intel Corporation and MasterCard Incorporated announced today a multi-year strategic collaboration to further enhance the security and consumer payment experience for online shopping.

The collaboration will combine MasterCard's expertise in payment processing and commerce with Intel's strengths in silicon innovation and chip-based security. It is designed to provide more options for a safer and simpler checkout process for online merchants and consumers using Ultrabook™ devices and future generations of Intel-based PCs.

The two companies are working together to optimize a variety of emerging payments technologies, including MasterCard's PayPass® and Intel® Identity Protection Technology (IPT). Intel® Identity Protection Technology can enable consumers to use strong two-factor authentication and hardware-based display protection. This provides increased online security against malware. Additionally, when used with an Intel® Identity Protection Technology-enabled reader, consumers will be able to pay for online purchases with a simple tap of their PayPass-enabled card, tag, or smart phone on an Ultrabook device.

"MasterCard is constantly working to improve the shopping experience for consumers and merchants," said Ed McLaughlin, chief emerging payments officer, MasterCard. "The collaboration with Intel will deliver enhanced security and faster checkout – with the convenience of a simple click or tap."

Consumers continue to shift their shopping to the Internet. Online sales reached $176.2 billion last year in the United States alone and are expected to grow at double-digit percentage rates annually for the next 5 years, according to Forrester Research.

"Our goal is to enable users of Ultrabook devices and future generations of Intel-based PCs to enjoy the convenience of e-commerce while making online payments safer from malware and hackers with the advanced security capabilities of Intel Identity Protection Technology," said George Thangadurai, general manager of PC Client Services Division, Intel Corporation. "Online commerce is a key focus area for Intel, and through this partnership with MasterCard, we intend to deliver an innovative, personalized and safer e-commerce experience to consumers."

 

 

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