Intel and MasterCard recently announced a partnership aimed at improving both the security and online payment user experience. Online payment is now reaching billions in the US alone, and is many times more globally.
Hence, it only makes sense that one of the biggest names in payment and PC components team up to deliver payment technologies that are more secure and seamless, and take advantage of all that cash floating around sites like Amazon or eBay.
The technologies that will be optimized in this case, are MasterCard's PayPass, and Intel's Identity Protection Technology (IPT). PayPass is a technology that allows users to simply tap their card or device (Google Wallet) to pay, while the IPT is a two-factor authentication and chip-based display protection found on select second generation Intel chips.
Part of this collaboration will also revolve around Intel's new Ultrabook segment. This means that future Ultrabook users will be able to simply tap their credit cards on their IPT enabled machine, for easier and more secure online payments.
They'd also not have to worry (too much) about someone stealing their credit card number, because those numbers won't be used anymore. The whole process is heavily reliant on the hardware you have on hand, as explained by The Verge.
IPT features both hardware and software authentication: after you type in a username and password, an embedded processor will generate a one-time authentication code, and then hand off the (encrypted) info.
As as some of the tech blogs would put it, the biggest risk here would be yourself, and your shopping impulses.