Intel Develops Security Solution for Credit Card Transactions
As the world continues to strive for better credit card security, Intel has developed a hardware-software program to protect credit card and personal data from being stolen while a transaction is authorized.
Once a buyer uses a credit card at a payment terminal, Intel’s technology known as Data Protection Technology for Transactions creates layers of security around the data. The POS terminal encrypts the data, and the information is transferred to the credit card processing company through a private tunnel. Then, the bank authorizes the purchase and sends the approval back to the terminal.
“We need to make sure retailers have the tools they need to collect data from the end point and hold onto it securely,” Bradley Corrion, a platform solutions architect at Intel, told the IDG News Service.
Intel plans to market its innovative chip technology to companies that make point-of-sale (POS) systems, mobile payment terminals and computers. The world’s largest manufacturer of payment terminals, NCR, has already made plans to use Data Protection Technology for Transactions on its products.
The new hardware and software security program can be adapted to a variety of payment systems, and it is supported by the latest Atom and Core processors. This new technology adds an extra layer of software to protect the payment process, complementing other technologies like EMV and tokenization.
Every part of the transaction is monitored through Intel, which makes it easier to protect. Other systems use separate entities to handle payment peripherals and encryptions, which make them more vulnerable to hacking.