San Francisco, April 7, 2015: Europe’s Ingenico Group and Intel Corporation have come together to try and make payments on Internet of Things (IoT) more secure. The two companies announced that the tie-up would see the use of Intel technology with Ingenico Group’s secure payment system in mobiles.
The companies will jointly develop a mobile Tablet that supports EMV1 and Near Field Communication (NFC) payment functionalities, a standard required by banks to help prevent credit card fraud.
Ingenico, headquartered in Paris, is a global leader in seamless payment, providing smart and secure solutions to empower commerce across all channels, in-store, Online and mobile.
It’s a deal. Top honchos from the two companies shake hands after the announcement.
Under the collaboration, the ‘Intel Data Protection Technology for Transactions’ will be married with Ingenico Group payment acceptance capabilities in mobile and future solutions in the United States and Canada, beginning with the mobile Tablets that shall run on the Intel Atom processor.
This will pave the way to a broader set of initiatives and value-added services to address other worldwide devices for the IoT, including intelligent vending machines, kiosks and digital signage.
Philippe Lazare, Chairman and Chief Executive Officer of the Ingenico Group, said in a written statement, “This is a great example of how innovation can simplify the purchasing experience and further enhance the merchant-consumer relationship. Bringing secure payment into connected devices will root our payment acceptance expertise in the Internet of Things”.
“The shift in liability this October will be a major milestone in the United States for banks and credit card companies, but especially for retailers,” said Doug Davis, Senior Vice President and General Manager, Internet of Things Group, Intel. “Intel and Ingenico Group are working to bridge the retail experience and security gap while also making sure devices are easy to deploy and manage so we don’t create new burdens for the merchants.”
Both companies will be at the ‘Transact 15’ annual convention and expo in San Francisco, USA.
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Image Credit: Ingenico/Twitter
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