Visa and Intel Collaborate to Drive Better Payment Security for Connected Devices
Through encryption and authentication technologies, Intel and Visa
will create a more secure payment process for the Internet of Things
LAS VEGAS--(BUSINESS WIRE)--Oct. 24, 2016--
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 implement uses of the Intel chip as a hardware root
of trust and to build upon that with Visa and Intel software.
Improved 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 collaboration announced today aims to make device identification
easier and more predictive. By providing hardware-level data—in the
form of a secure device code—during the 3-D Secure authentication
process, issuers can have even greater confidence to approve low-risk
transactions, or to require additional verification for suspicious
ones. Called Intel® Online Connect, the solution will be included in 7th Gen
Intel® Core™ systems and will work with the existing 3-D
Secure protocol and the upcoming 2.0 version, which EMVCo is expected
to release this year.
“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.”
“7th Gen Intel Core processors will make the online shopping experience
hassle-free and provide security that’s built-in to the hardware,” said
Rick Echevarria, vice president of Software and Services Group; GM
Platforms Security Division at Intel. “Through this collaboration with
Visa, Intel continues to innovate in platform security technologies,
such as Intel® Software Guard Extensions and Intel® Online Connect to
further protect one of the most preferred online shopping experience on
Intel will showcase Intel® Online Connect at Money20/20 in a Secure
Guest Checkout experience, which extends the familiar online payment
scenario in which a user makes a purchase at a new merchant site—one
where the customer does not already have an account and chooses to
manually enter card details as part of the checkout process.
About Visa Inc.: Visa Inc. (NYSE: V) is a global payments
technology company that connects consumers, businesses, financial
institutions and governments in more than 200 countries and territories
to fast, secure and reliable electronic payments. We operate one of the
world's most advanced processing networks — VisaNet — that is capable of
handling more than 65,000 transaction messages a second, with fraud
protection for consumers and assured payment for merchants. Visa is not
a bank and does not issue cards, extend credit or set rates and fees for
consumers. Visa's innovations, however, enable its financial institution
customers to offer consumers more choices: pay now with debit, pay ahead
of time with prepaid or pay later with credit products. For more
information, visit usa.visa.com/about-visa,
Intel, Intel Online Connect, 7th Gen Intel Core systems and Intel Data
Protection Technology for Transactions are
trademarks of Intel Corporation in the United States and other countries.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161024005454/en/
Source: Visa Inc.
Kryssa Guntrum, +1 415-805-4488
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