Ingenico Group Intel Partner To Bring Secure Payment To Connected Devices

SAN FRANCISCO -- Intel Corp. and Paris-based Ingenico Group said they are collaborating to combine Intel technology and Ingenico secure payment acceptance to benefit the Internet of Things, including connected vending machines.

Under the partnership, Intel's transaction protection technology will be combined with Ingenico's payment acceptance capabilities in mobile and future solutions in the United States and Canada. They will begin with a jointly developed mobile tablet that supports EMV and NFC payment functionality, a standard required by banks to help prevent credit card fraud.

By October, 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.

The companies say their collaboration 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.