Visa is working with Intel to bring payment and data security technologies to connected devices by integrating data security solutions into Intel chipsets to help device manufacturers build more secure payment functionality into their products.
Their two key collaborations include:
- 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”.
- Improve online and device authentication: Establishing if a cardholder is shopping from a recognized payment device can help merchants and issuers distinguish between good and bad transactions.
“The rise of connected devices will rapidly expand the platforms we use to shop and pay. It will also open up new entry points for hackers,” said Mark Nelsen, senior vice president of risk and authentication products at Visa.
“Tackling this security challenge requires a new level of coordination between players in payments, technology and computing. Working with Intel, we’re ensuring that the next generation of payment devices have security hardwired at the ground level,” he added.
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