NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report were higher in late morning trading on Monday as the chipmaker develops technologies with credit card company Visa (V) to make payment services safer and more secure.
The companies are combining Visa's encryption technology with Santa Clara, CA-based Intel's data protection technology for transactions. This will ensure that card data accepted through non-traditional payment channels like computers, mobile phones and Internet of Things devices can't be used if hackers intercept it.
Additionally, the companies said they will create an Intel Online Connect program to make it easier to determine if cardholders are shopping from recognized payment devices.
This will help merchants and card issuers decide whether a transaction is low-risk or suspicious, according to a company statement.
"The rise of connected devices will rapidly expand the platforms we use to shop and pay," Mark Nelson, Visa's senior VP of risk and authentication products, said in a company statement. "It will also open up new entry points for hackers."
"Tackling this security challenge requires a new level of coordination between players in payments, technology and computing," Nelson added.
Shares of Visa were climbing in late morning trading on Monday.
Separately, TheStreet Ratings objectively rated Intel stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, reasonable valuation levels and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: INTC