MasterCard And Intel Partner To Simplify and Secure NFC and Online Payments

Consumers have got used to seeing "Intel" technology in their computers but now they have the option to experience similar expertise in credit cards, with the alliance between MasterCard, provider of payment platform and the chip maker. The two companies announced a multi-year tactical partnership in November to enhance streamlined consumer experience which will have improved payment security. It also aims to offer simpler approach for the clients for online payment of products or services.

Now how are the two giants combining forces? All details have not been disclosed yet, but Intel and MasterCard are working on offering easier and safer checkout process for online consumers and merchants by employing Ultrabook system and future generations of PCs based on Intel.

MasterCard and Intel will also be joining hands in the field of emerging payments technologies, together with PayPass from MasterCard and Identity Protection Technology of Intel. Consumers will be facilitated to buy, without swiping the card with magnetic strip or signature, services or products via the PayPass payment system. This technology makes use of NFC to broadcast information.

According to reporters, the officials of the company applauded the partnership and saw it as a chance to develop on their present technology. PayPass from MasterCard has increased the use of contactless credit cards in the United States. Identity Protection Technology from Intel influences some of the most pioneering point-of-sale terminals today. The union together will fuse their respective technologies into a two-factor authentication coordination which will assist in further safeguarding the costumers from identity theft.

George Thangadurai the spokesman of Intel explained that the objective of the partnership was to replicate the safe PayPass experience for shoppers online. The manufacturers will be able to insert PayPass reader versions into upcoming notebook computers models. Just by tapping a credit card on the touchpad of the notebook, it will pass on the secure payment details to the merchant. This enhanced customer experience will do away with the requirement of typing the credit card details as well as protect the consumer information from malware and viruses.

McLaughlin considers this contract the launch for future collaborations between the two companies.

Doug Nicholas

Doug Nicholas, a financial consultant by profession with a Masters degree in International Business from Brown University, is also an ardent writer. Though he has a full time job at one of the companies listed on Wall Street, he does manage to squeeze in time to follow his passion. He puts his ideas to words in his articles related to finance and business.