Partnership between MasterCard and Intel Regarding Online and NFC Payments
Intel and MasterCard are announcing a multi-year strategic partnership this evening, which aims to provide a more secure and simple way for consumers to pay for products online (TechCrunch).
This step or development will give rise to increased online transactions. As envisioned by Intel and MasterCard, customers will be able to place an order for a book on Amazon by tapping their Smartphone to ultrabook.
The tap-and-pay feature on the ultrabook will serve to initiate the development of devices that are capable of making and receiving mobile payments.
According to TechCrunch, Intel and MasterCard have also joined hands in another area where MasterCard’s PayPass and Intel’s Identity Protection Technologies are going to play their roles. PayPass is a method of payment that doesn’t require you to swipe the magnetic strip on your card or provide your signature in order to make a payment. The technology uses NFC (near-field communication) to transmit information.
On the other hand, Intel’s Protection Technology allows consumers to use two-factor authentication and hardware-based display protection that provides greater security against malware.
The Intel-MasterCard Partnership will allow an individual to complete his or her purchase by simply waving the Smartphone in front of their ultrabook.
Ed McLaughlin, head of emerging payments for MasterCard said, “It simultaneously makes it simpler and it increases the security.” Furthermore, he added, “The collaboration with Intel will deliver enhanced security and faster checkout – with the convenience of a simple click or tap.”
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