NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report were down in late-afternoon trading on Friday as the technology company is working with Lenovo (LNVGY) and Synaptics (SYNA) to develop fingerprinting technology on laptops for payments on PayPal (PYPL).
The companies said the biometric system is based on security standards created by the FIDO Alliance, a group that's working to ensure that emerging security technologies are able to work across different platforms, according to Fortune.
Until now, mostly mobile devices have harnessed fingerprinting technologies in conjunction with payment systems like PayPal.
The collaboration will bring the scanning technology to Lenovo computers, Fortune notes. Intel will provide custom processors and Synaptics will provide a fingerprint scanning system that includes encryption technologies.
Synaptics technology is also enabled with anti-spoofing technology that would prevent hackers from breaking into devices.
The companies didn't say when the laptop would be available, Fortune added.
Separately, TheStreet Ratings objectively rated this 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 has this to say about the recommendation:
TheStreet Ratings team rates Intel as a Buy with a ratings score of B+. This is driven by some important positives, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, solid stock price performance and expanding profit margins. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: