Visa has entered into a partnership with technology provider Intel to help device manufacturers build more secure payment functionality into their products.
Under the collaboration, Visa will integrate its encryption technology with Intel Data Protection Technology for Transactions to ensure that card data accepted through non-traditional payment channels such as computers, mobile and internet of things (IoT) devices cannot be used by hackers if intercepted.
Additionally, the two entities aim to create a solution, called Intel Online Connect, which will help in determining if cardholders are shopping from recognised payment device.
Intel Online Connect will be embedded 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 launch in 2016.
Visa senior vice president of risk and authentication products Mark Nelsen said: “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.
“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.”
Intel vice president of Software and Services Group; GM Platforms Security Division Rick Echevarria said: “7th Gen Intel Core processors will make the online shopping experience hassle-free and provide security that’s built-in to the hardware.
“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.”