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Intel security tool to speed up Internet of Things adoption in retail?

Global technology company Intel has announced the launch of a new solution that it says will boost retailer security at the point of sale (PoS) and help speed up the adoption of the 'Internet of Things' within the industry.

Dubbed 'Data Protection Technology for Transactions', the tool provides end-to-end encryption of consumer and financial data that is built into PoS platforms. It has been developed in collaboration with self-service tech company NCR.

There have been a number of high-profile retail data breaches over the last 12 months, including the US businesses Target and Kmart, which have cast doubt on retailers' ability to secure consumer data, and impacted consumer confidence.

Intel says these security concerns are creating a barrier to the adoption of Internet of Things technologies in retail, but it argues that its new tool will address a number of these issues.

Michelle Tinsley, director of mobility retail and payments at Intel, commented: "This solution introduces a significant improvement in today's retail transaction data protection without costly hardware upgrades, and provides retailers a path for adopting new Internet of Things technologies.

"It also sets the stage to expand to other industries such as financial services, healthcare or even government agencies."

Karen Webster, CEO of consultancy firm Market Platform Dynamics, said: "It's never been more important, or more difficult, for retailers to manage and protect data across the payment ecosystem." She added that separating transaction processing from the PoS and further out of the reach of hackers "can only help give both retailers and consumers more confidence that their PoS experience is secure".

Intel's Data Protection Technology for Transactions solution adds an extra layer of software to protect the payment process, and complements current retail investments in EMV (Europay, MasterCard and Visa) credit card authorisation, tokenisation and other data protection technologies.

The software resides and runs on the Intel chipset, with the tech firm suggesting it reduces the gaps between data transmitted between PoS devices and the data centre.

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