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Intel and MasterCard team up on NFC

The NFC payments market is expected to grow seven-fold by 2017

Intel has teamed up with payment provider MasterCard in a drive to provide more options for a safer and simpler check-out process for online merchants and consumers using Ultrabook or netbook type devices and future generations of Intel-based PCs.

They are working together to optimise a variety of emerging payments technologies, including MasterCard’s NFC-based PayPass and Intel Identity Protection Technology (IPT).

Intel’s IPT enables consumers to use two-factor authentication and hardware-based display protection, which provides increased online security against malware. Additionally, when used with an Intel IPT-enabled reader, consumers will be able to pay for online purchases with a simple tap of their PayPass-enabled card, tag, or smart phone on an Ultrabook device.

“The collaboration with Intel will deliver enhanced security and faster checkout – with the convenience of a simple click or tap,” said Ed McLaughlin, chief emerging payments officer at MasterCard.

The firms explained that the technology will become increasingly relevant over the coming years, as online sales reached $176.2bn last year in the US alone, and is expected to grow at double-digit percentage rates annually for the next 5 years, according to Forrester Research.

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