Entering a 16-digit bank card number could be a thing of the past with a brand new initiative from MasterCard and Intel , which permits users to checkout online by tapping a PayPass-enabled card, tag or smartphone to their Ultrabook . Calling the checkout “safer” and “simpler,” Intel is bringing its Identity Protection Technology to the potluck, giving shoppers two-factor authentication and chip-based display protection when forking over that onerous earned cash. Here’s the way it all works: whilst you tap a NFC smartphone or other PayPass-enabled device, it is going to communicate with the Ultrabook, generating a six-digit code from the embedded processor or from throughout the Manageability Engine. The ME hardware, encrypted with third-party algorithms, then transacts with the e-commerce site, hopefully offering shoppers more protection than standard software solutions. Since using the feature requires an NFC-connected device in addition to the Ultrabook and a username and password, forgetful individuals who are inclined to misplace their phone or computer would not have to fret about unwarranted spending. Sadly, the answer won’t protect your wallet from the perils of a late night shoe shopping spree. Take a look at the total PR after the break.
Intel and MasterCard Join Forces to reinforce the
Consumer Payment Experience for Online Shopping
Collaboration to offer more options for a safer and simpler check-out process for online merchants and consumers
SANTA CLARA, Calif. and buy, NY – Nov. 14, 2011 – Intel Corporation and MasterCard Incorporated announced today a multi-year strategic collaboration to further enhance the safety 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’s designed to offer 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 2 companies are working together to optimize many different emerging payments technologies, including MasterCard’s PayPass® and Intel® Identity Protection Technology (IPT). Intel® Identity Protection Technology can enable consumers to make use of strong two-factor authentication and hardware-based display protection. This offers increased online security against malware. Additionally, when used with an Intel® Identity Protection Technology-enabled reader, consumers can be ready to pay for online purchases with a straightforward tap in their PayPass-enabled card, tag, or smart phone on an Ultrabook device.
“MasterCard is consistently working to enhance 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 benefit of an easy click or tap.”
Consumers continue to shift their shopping to the net. Online sales reached $176.2 billion last year inside the U.s. alone and are expected to grow at double-digit percentage rates annually for the subsequent 5 years, in line with Forrester Research.
“Our goal is to enable users of Ultrabook devices and future generations of Intel-based PCs to benefit from 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 thru this partnership with MasterCard, we intend to deliver an innovative, personalized and safer e-commerce experience to consumers.”
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