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Intel Pushes Payments Into The Internet Of Things

INTEL PUSHES PAYMENTS INTO THE INTERNET OF THINGS via PMTS.COM

Ingenico and Intel have partnered to build mobile payment capabilities into a wide array of connected devices for the Internet of Things (IoT) — including intelligent vending machines, kiosks and digital signage, the companies announced at the Transact conference last week.

Under the deal, Ingenico will provide the payment acceptance capabilities, based on its long experience with point-of-sale devices. Intel’s contributions will be CPU technology, along with the Intel Data Protection Technology for Transactions system that the chipmaker unveiled last fall. That platform, formerly code-named “Baker Beach,” secures transaction data with a combination of encryption, POS device management and the ability to control which data elements go to a merchant’s own systems and what gets sent to a card processor.

The companies didn’t lay out a timeline for when things like payment-powered digital signs and vending machines will show up. But the first planned product is a mobile tablet that uses the Intel Atom processor and supports EMV and NFC payments.

“This is a great example of how innovation can simplify the purchasing experience and further enhance the merchant-consumer relationship,” Ingenico CEO Philippe Lazare said in a prepared statement. “Bringing secure payment into connected devices will root our payment acceptance expertise in the Internet of Things.”

See the full story on  PYMNTS.com 

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