Ingenico Group and Intel to Bring Payments to the Internet of Things
Ingenico Group and Intel Corporation have announced a collaboration to combine Intel technology and Ingenico Group secure payment acceptance for the Internet of Things. The companies will jointly develop a mobile tablet that supports EMV1 and NFC payment functionalities, a standard required by banks to help prevent credit card fraud.
Today, banks are responsible for fraudulent activity on credit cards, costing them US$14 billion in 20132. By October 2015, banks will require retail merchants to upgrade their POS equipment to support EMV chip cards. If they do not, the retailers will be responsible for recovering the funds if fraud should occur.
Under the collaboration, Intel® Data Protection Technology for Transactions will be combined with Ingenico Group payment acceptance capabilities in mobile and future solutions in the United States and Canada, beginning with the jointly developed mobile tablets based 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 Internet of Things, including intelligent vending machines, kiosks and digital signage.
Today, banks are responsible for fraudulent activity on credit cards, costing them US$14 billion in 20132. By October 2015, banks will require retail merchants to upgrade their POS equipment to support EMV chip cards. If they do not, the retailers will be responsible for recovering the funds if fraud should occur.
Under the collaboration, Intel® Data Protection Technology for Transactions will be combined with Ingenico Group payment acceptance capabilities in mobile and future solutions in the United States and Canada, beginning with the jointly developed mobile tablets based 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 Internet of Things, including intelligent vending machines, kiosks and digital signage.