Intel Corporation has introduced Intel® Data Protection Technology for Transactions, the industry’s first built in solution to provide end-to-end encryption of consumer and financial data for (POS) platforms.
Developed in collaboration with NCR, the solution combines software optimized for retailers with Intel hardware, including Intel® Core™ and select Intel® Atom™ processors, to deliver a higher level of security from the start of a transaction until transaction data is stored on a bank server.
Intel Data Protection Technology for Transactions adds an extra layer of software to protect the payment process, complementing current retail investments in EMV (such as Europay, MasterCard and Visa) credit card authorization, tokenization and other data protection technologies. The software resides and runs on the Intel chipset for enhanced security and helps close the gaps between data transmitted between POS devices and the data center.
The mounting number of data breaches has cast doubt on retailers’ ability to secure consumer data and sustain consumer confidence in sharing data, creating a barrier to the adoption of Internet of Things technologies.
It’s estimated that enterprise businesses will spend $114 billion dealing with malware-related cyberattacks in 2014 and, per multiple industry reports, tens of millions of credit cards have been compromised this year.
Intel Data Protection Technology for Transactions was developed to address these issues and speed the deployment of the Internet of Things in retail environments.
“Consumers and retailers need solutions that help narrow the risk of information making its way into the wrong hands,” said Chris Lybeer, vice president of Strategic Development at NCR.
“This solution introduces a significant improvement in today’s retail transaction data protection without costly hardware upgrades, and provides retailers a path for adopting new Internet of Things technologies,” said Michelle Tinsley, director of Mobility Retail and Payments, Intel. “It also sets the stage to expand to other industries such as financial services, healthcare or even government agencies.”
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