Intel And MasterCard Team Up For Ultrabook-Involved Mobile Payments
Ultrabooks? Mobile payments? Huh! The new partnership will involve PayPass and Intel's Identity Protection Technology, the latter of which can enable consumers to use strong two-factor authentication and hardware-based display protection. This provides increased online security against malware. 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 smart phone on an Ultrabook device.
Are ultrabooks the new Nexus S? We doubt too many folks will use their notebooks as Google Wallets, but who knows -- with phones getting bigger and notebooks getting smaller, maybe we're heading to some strange new parallel payment universe.
Intel and MasterCard Join Forces to Enhance the Consumer Payment Experience for Online Shopping
Collaboration to provide more options for a safer and simpler check-out process for online merchants and consumers
SANTA CLARA, Calif. and PURCHASE, NY – Nov. 14, 2011 – Intel Corporation and MasterCard Incorporated announced today a multi-year strategic collaboration to further enhance the security 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 is designed to provide 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 two companies are working together to optimize a variety of emerging payments 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. 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 smart phone 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."
Consumers continue to shift their shopping to the Internet. Online sales reached $176.2 billion last year in the United States alone and are 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."