At the ongoing IDF 2012, Intel Corporation and MasterCard Inc. announced a multi-year strategic collaboration to provide an improved security and consumer payment experience for online shopping. Intel executives said that the collaboration aims to provide more options for a safer and simpler check-out process for online merchants and consumers
The two companies are working together to optimise a variety of emerging payment 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, claims Intel. 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 smartphone 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."
Joining forces for smooth transactions
Consumers continue to shift their shopping to the Internet. Online sales reached $176.2 billion last year in the United States alone and is 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."
During Dadi Perlmutter’s opening keynote at the Intel Developer Forum, Intel and MasterCard showcased for the first time, an innovative online check-out experience with MasterCard’s PayPass Wallet Service using NFC technology on an Ultrabook device. By a simple swipe of a PayPass card, an Intel executive was able to authenticate credentials, fill up the necessary forms and make a really quick purchase without the need to enter passwords or other details.
The MasterCard PayPass card – in conjunction with Intel Identity Protection Technology – needs to be simply tapped on PayPass capable Ultrabooks to easily and safely share the buyer’s information with the merchant.
Published Date: Sep 12, 2012 12:47 pm | Updated Date: Sep 12, 2012 12:47 pm