Tuesday, October 25, 2016
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:
“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 the PC.”
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, visitusa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
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.
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