Intel Corporation, America’s top semiconductor chips manufacturing company, has launched Intel Data Protection Technology for Transactions solution for end-to-end encryption of consumer and financial data for online retailers.
The Intel Data Protection Technology for Transactions solution, developed in collaboration with NCR, a leader in consumer transaction technologies, combines software optimized for retailers with Intel hardware, to deliver a higher level of security from the start of a transaction until transaction data is stored on a bank server.
The solution adds an extra layer of software to protect the payment process, complementing current retail investments in EMV (Europay, MasterCard, and Visa) credit card authorization, tokenization, and other data protection technologies. The software resides and runs on the Intel chipset for enhanced security and helps close the gaps between data transmitted between Point of Sale (POS) devices and the data center.
The solution helps speed the deployment of data in retail environments and reduces the number of data breaches that cast doubt on retailers’ ability to secure consumer data and sustain consumer confidence in sharing data. It helps reduce risks by establishing a secure pipeline through which transactions can request payment authorization and provides a common security management capability for retailers.
The new Intel technology builds flexibility into data protection, helping merchants shift resources used to deal with security issues, to improving the customer satisfaction and purchasing experience.
Michelle Tinsley, the director of Mobility Retail and Payments, Intel said, “This solution introduces a significant improvement in today’s retail transaction data protection without costly hardware upgrades, and provides retailers a path for adopting new technologies.”
Chris Lybeer, the vice president of strategic development at NCR said, “Consumers and retailers need solutions that help narrow the risk of information making its way into the wrong hands.”
"NCR and Intel recognized the need to add a new level of security into transactional systems. With Intel Data Protection Technology for Transactions, in conjunction with NCR DataGuard, all important data from consumer information to payments to confidential business information are shielded from possible misuse.” he added. (GK)
