Canadian Vending

Features Payment Technology
Intel, Ingenico push payments into Internet Of Things


April 6, 2015
By Canadian Vending

Topics

April 6, 2015, San Francisco and Paris – Ingenico Group and Intel
Corporation will combine secure payment acceptance and technology to equip mobile devices for the Internet of Things.

April 6, 2015, San Francisco and Paris – Ingenico Group and Intel
Corporation will combine secure payment acceptance and technology to equip mobile devices for the Internet of Things.

The
companies will jointly develop a mobile tablet that supports EMV
and NFC payment functionalities, a standard required by banks to help
prevent credit card fraud, they said in a news release.

Today, banks are responsible for fraudulent activity on credit cards,
costing them US$14 billion in 2013. 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.

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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.

“We are very pleased to enter a collaboration with Intel, deploying
secured payment acceptance into new connected devices,” commented
Philippe Lazare, chairman and CEO, Ingenico Group, in the release. “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.”