April 1, 2016
Disruptive technologies, computer security, and global standards are poised to enable secure, seamless digital operations—supporting new payment models, while addressing risk.
There’s no question that the payment and transaction landscape is complex, touching everyone from consumers, solution providers, and merchants to payment networks and banks. Regulatory security requirements for credit card transactions are stringent, requiring a costly and time-intensive process of testing and compliance that can be prohibitive for bringing new technologies and solutions to market. Attacks on retailers resulting in security breaches make headlines, and result in millions of dollars of damages, fines, and cost to reputation.
· USD 364 billion1 spent by businesses on data breaches in 2014.
· 60 percent2 of cases result in organizations being compromised by hackers in just minutes.
· 34 percent3 of consumers no longer shop at a specific retailer due to a past data breach issue.
· 70 percent4 of data breaches occur at the POS.
Financial institutions have their own rigorous and time-consuming compliance and certification procedures, and these requirements vary widely worldwide, making the introduction of innovative solutions difficult.
New disruptive technologies, such as cryptocurrency, are adding to the challenges for decision makers. And, consumers expect online, 24/7 services and an omnichannel experience that is frictionless and secure, requiring a level of speed and innovation that is difficult for the current industry to deliver with solutions in-market today.
In the fast moving digital economy, holistic solutions and scalable, robust, reliable technologies are essential to remain competitive. As our world grows evermore connected and the Internet of Things becomes a reality, Intel is empowering the industry to transform and secure transactions through four critical offerings:
Innovation to Deliver Better Experiences: Intel® architecture is inside a broad spectrum of interoperable, integrated industry solutions and endpoints—helping to create seamless, efficient experiences from consumers to IT.
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