On Monday, Intel and MasterCard touted a new multi-year partnership and “strategic collaboration” aimed at bringing further enhancements to security and consumer payment experience with online shopping.
According to a press release heralding the partnership, MasterCard will fuse its expertise in payment processing and commerce with Intel’s strengths in silicon innovation and chip-based security.
It is designed to provide more options for a safer and simpler checkout process for online merchants and consumers using Ultrabook devices and future generations of Intel-based PCs.
Intel and MasterCard are working together to optimize a variety of emerging payments technologies, including MasterCard’s PayPass and Intel’s Identity Protection Technology (IPT).
All told, it’s a great time for these new partners to take up this endeavor as consumers continue to shift their shopping to the Internet.
Online sales topped $176 billion last year in the United States alone and will likely grow at double-digit percentage rates annually for the next 5 years based on recent projections from Forrester Research.
“MasterCard is constantly working to improve the shopping experience for consumers and merchants,” says Ed McLaughlin, chief emerging payments officer at MasterCard. “The collaboration with Intel will deliver enhanced security and faster checkout – with the convenience of a simple click or tap.”
“Our goal is to enable users of Ultrabook devices and future generations of Intel-based PCs to enjoy the convenience of e-commerce while making online payments safer from malware and hackers with the advanced security capabilities of Intel Identity Protection Technology,” concluded George Thangadurai, general manager of PC Client Services Division at Intel Corporation. “Online commerce is a key focus area for Intel, and through this partnership with MasterCard, we intend to deliver an innovative, personalized and safer e-commerce experience to consumers.”