Intel, Mastercard join forces to strengthen online shopping security

Intel, Mastercard join forces to strengthen online shopping security

Intel and MasterCard recently entered into a multi-year agreement to improve online payment security as consumers increasingly shop online despite heightened cybercrime threats.

MasterCard will incorporate its PayPass technology into Intel's ultrabooks, allowing users to make internet purchases without storing credit card information online. The two companies will focus on implementing internet security verification with new Intel devices, which will increase safety and make transactions smoother.

"Our goal is to enable users of Ultrabook devices and future generations of Intel-based PCs to enjoy the convenience of ecommerce while making online payments safer from malware and hackers with the advanced security capabilities of Intel Identity Protection Technology," said George Thangadurai, general manager of Intel's PC Client Services division.

Both online shopping and associated security risks are increasing, as Forrester Research recently reported U.S. online retail sales reached $176.2 billion in 2010. Forrester expects sales will rise to $278.9 billion by 2015, amplifying the need for better secure payment technology.

According to a recent Harris Interactive survey, consumer confidence in online shopping security has dropped 11 percent during the last two years. Of 605 respondents, 84 percent reported having some concern when disclosing personal information online.