Tuesday, 4 October 2022

Intel Brings Tomorrow’s Payment Solutions to Market at Money 20/20

28 Oct 2016

Digitalized services and seamless payment experiences make it easier than ever to buy what you want, when you want it. But with this purchasing ease – and the benefits it offers consumers and merchants – comes new risks and threats. Intel is working with device makers and payment solution providers to integrate hardware-level security offerings to meet consumers’ growing expectations while creating best practices to reduce the risk to personal data.


Mobile and PC technology is evolving to better support merchants that utilize point-of-sale (POS) systems and customers who want a smooth online shopping experience. The use of proximity mobile payments, for example, is expected to double in 2017. According to eMarketer, the value of online sales via mobile devices or computers will surpass brick-and-mortar stores by 2019.

» See the Money 20/20 media alert

However, the increase in digital transactions and harvested credit card information brings daily reports of new risks. Data breaches are on the rise. In the first half of 2016, data breaches involving identity theft to financial records from major organizations surged at an alarming 15 percent over the previous year, with retail industry breaches accounting 17 percent of this type of data theft.

U.S. consumers are also demanding more accountability from their financial institutions to reduce and prevent data theft, with 74 percent expecting institutions to guarantee they will cover losses. To avoid a data breach at the time of a transaction, both payment card providers and device manufactures, need to strengthen data security. This will provide customers seamless digital payment experiences while offering protection against identity theft and fraud.

At this year’s Money 20/20, a leading payments and finance tech event, Intel and its ecosystem partners will demonstrate innovative solutions to enable seamless and secure payment transactions. Their work stretches from optimizing PC shopping experiences to delivering new approaches to managing cryptocurrency.

Making eCommerce and mCommerce More Secure and Seamless

Strong encryption keys are the backbone to security. However, with more online services and transactions, remembering unique usernames and passwords for each account can be a major pain point for consumers. This can often encourage poor security habits when users set up simple security keys to avoid the hassle associated with logging in.

Intel and its ecosystem partners are modernizing online authentication to make passwords a thing of the past by enabling biometric authentication on all PCs embedded with 7thgeneration Intel® Core™ processors, boosting the PC as a preferred device for online shopping. By leveraging Intel® Software Guard Extensions (Intel® SGX) to hardware-protect payments for simpler, stronger end-to-end security, a user can safely make purchases on PCs with just a tap of a finger and never have to re-enter personal and credit card information.

Intel has collaborated with industry leaders such as Lenovo*, PayPal* and Synaptics* to develop a biometric authentication solution that is FIDO standard-compliant for Lenovo’s recently launched Yoga 910 convertible. Intel® SGX, Synaptics’ Natural ID Fingerprint Solution and PayPal’s unique authentication ecosystem for payments in Lenovo’s new devices work together to reduce fraud and increase security. With the system in place, online authentication is nearly frictionless with biometrics secured by built-in, hardware-level protection. The Yoga 910 convertible also enables China UnionPay* on-line payment solutions with Intel® Software Guard Extensions.

Empowering Merchants with Next-Generation Connected Solutions

Intel and Verifone* are transforming the customer engagement at physical checkout stations by offering solutions to develop next-generation products and connected POS models that can transition from countertop to mobile use. Intel is powering the Verifone Carbon with the Intel® Atom™ x5/x7 Z8000 processor. The Intel® Atom™ x5/x7 Z8000 processor series is Intel’s next generation of system-on-chip (SoC), showcasing an integrated, flexible POS platform. The processor provides speed and multi-connectivity options to enable customized app ecosystem offerings.

This new product by Verifone, powered by Intel® processors, demonstrates the value of unified commerce for small and midsize merchants. Beyond payment processing, the platform helps merchants manage customer loyalty programs, inventory, employees and more.

Merchants now have new opportunities to engage their customers when deploying third-party apps on Verifone’s tablet-based POS system to optimize consumer experiences through customized, targeted advertising and promotions. Together, Verifone and Intel make the transaction process more accurate and transparent – ultimately, delivering seamless user experiences. This new platform gives small- and medium-sized businesses the opportunity to offer cutting-edge retail experiences and compete with larger merchants.

The payments landscape is experiencing a tsunami of change. As we approach this year’s Money 20/20 conference, we are excited to be a part of many industry advancements that will bring new and easier payment solutions to life. Today’s retailers are eager to make the consumer payment experience seamless and simple, while still ensuring trust and security. Working with technologies from partners like Lenovo, PayPal, Synaptics and Verifone, as well as leaders in the payment industry, Intel is continuing to build an enduring legacy of providing solutions to empower security and experiences for tomorrow. We look forward to sharing our vision for a secure, smart and connected payments industry at this year’s event.