Visa and Intel Collaborate to Drive Better Payment Security for Connected Devices
MONEY20/20 – Visa (NYSE:V) and Intel® today announced a collaboration agreement to help bring world-class payment and data security technologies to the growing world of connected devices—from personal computers and mobile devices, to intelligent appliances and wearable technologies. With the spectrum of commerce growing in size and complexity, so does the need for sophisticated privacy and security controls that deliver on simplicity, interoperability and convenience. Intel and Visa both play fundamental roles in shaping this new commerce landscape and as part of this agreement, will work together to integrate data security solutions into Intel chipsets to help device manufacturers build more secure payment functionality into their products.
Visa and Intel have two significant collaborations in development:
More Secure Internet of Things: Intel and Visa are working together to integrate Visa’s encryption technology with Intel® Data Protection Technology for Transactions as an option for merchants to provide more secure data transmission. Through the collaboration, payment data originating from an encryption-enabled device can be transmitted in a format that is unusable if intercepted by hackers. Intel Data Protection Technology for Transactions will support use cases in which card data is accepted through non-traditional payment channels, such as computers, mobile and IoT devices. Together, Visa and Intel plan to...