Mastercard has announced that it is applying the latest quantum-resistant technologies to develop the next generation of contactless payments.
“The new enhanced contactless (Ecos) specifications are an industry-first and will help ensure that as our dynamic digital landscape evolves, and new technologies like quantum computing are introduced, contactless technology is future-proofed to ensure consumers will continue to enjoy the same high levels of security and convenience they do today, in the decades to come,” a statement said.
The demand for faster, more convenient, safe and cleaner ways to pay has driven the transition to contactless and this trend will only continue to grow. In fact, in the third quarter of 2020, contactless penetration represented 41 percent of in-person purchase transactions globally, up 30 percent from a year ago.
“Contactless is the present and future of in-person payments,” said Ajay Bhalla, president, cyber and intelligence at Mastercard. “2020 brought with it a rapid acceleration of digitization and reinforced the importance of digital solutions — like contactless — to help meet our everyday needs. As the ecosystem continues to evolve, more connected devices and the Internet of Things are going to create more user demand and an even greater need for constant innovation to build next-generation capability, helping to ensure that technology never outpaces trust.”
With Ecos, consumers, merchants and financial institutions will benefit from:
•Enhanced convenience — Over time, Mastercard envisions that the in-store shopping experience will become increasingly contactless-only. These new specifications will help ensure any device truly can be a payment device, while eliminating the need for a backup swipe or dip of a card.
•Enhanced trust — Ecos leverages new, quantum-resistant technology to deliver next-generation algorithms and cryptographic key strengths while keeping the contactless interaction under half a second.
•Enhanced privacy — The new specifications deliver advanced protection when account information is shared between the card or digital wallet and the checkout terminal. Ecos builds on the increased requirements to support various privacy regulations.
As the new specifications are activated over the coming years, consumers and merchants can expect a seamless transition. Digital wallets, mobile payments, contactless cards and point-of-sale terminals will continue to work as they do today.
Mastercard evolves contactless technology for quantum world
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Mastercard evolves contactless technology for quantum world
Schneider Electric to advance energy technology to power intelligence at Innovation Summit Middle East & Africa
Schneider Electric, a global energy technology leader, has announced that the second edition of the Innovation Summit Middle East & Africa will be held in Abu Dhabi on April 28–29.
The summit will bring together global energy and technology leaders as well as government officials to advance the regional shift toward energy intelligence, as data center growth, AI adoption, and national visions place unprecedented demands on energy systems.
Schneider Electric is advancing its energy technology ambitions with the integration of electrification, automation and digital intelligence, deployed across buildings, data centers, industrial applications and power grids to unlock the full value of energy, and ensure efficiency and sustainability for all.
This year’s summit arrives at a pivotal moment for the Middle East and Africa, as the region experiences exponential growth driven by national visions, giga-projects, and rapid expansion in AI, data centers, and digital infrastructure.
Saudi Arabia stands out within this landscape as one of the most dynamic markets in terms of investment in digital infrastructure and sustainable energy.
With global electricity demand projected to grow at a strong compound annual growth rate of 3.6% over the 2026–2030 period and global AI workloads projected to lead a 160% increase in data center power demand, the imperative for intelligent, sustainable energy solutions has never been more critical.
“Energy today is the foundation of national resilience and competitiveness. With electricity consumption in the Middle East and North Africa having tripled since 2000 and on course to grow at an incremental 3-4% every year to register a whopping 50% by 2035 – driven by surging cooling, desalination, and urbanization demands, the region is at an inflection point,” said Walid Sheta, Zone president, Middle East and Africa, Schneider Electric.
“Innovation Summit Middle East & Africa underscores our dedication to accelerating energy technology innovation and powering energy intelligence throughout the region. This edition will emphasize our emergence as the trusted energy technology partner guiding the region’s next phase of transformation. "
This year’s summit will highlight regional benchmarks from 80+ countries, from the 100% elimination of SF6 and Carbon footprint reduction for fruit producers in South Africa to the savings that EcoStruxure Power & Grid is enabling for the National Electricity Company, Senegal – ensuring recovery times of 3 minutes versus 3 hours earlier.
Blending high-impact programming and latest product launches that position Schneider Electric at the center of MEA's energy transition story, key agenda items include:
CEO Forum in partnership with Forbes Middle East: An exclusive C-suite initiative bringing together 100 business leaders to address strategic imperatives in energy intelligence.
Keynote and Thought Leadership sessions: Featuring executive speakers from industry-leading companies and insights from strategic partners, including Bain & Company.
Innovation Hub experience: Guided tours and live demonstrations, as well as tailored customer experiences of Schneider Electric’s most innovative and integrated energy technology solutions addressing critical challenges in energy efficiency, grid modernization, and digital infrastructure across a 3,000 square feet immersive space.
Stakeholder recognition: Schneider Electric’s dedicated partners will be honored with 20 Cluster awards and five Middle East and Africa awards across four categories – Growth Award, Efficiency Award, Innovation Award, and Sustainability Award, on Day 2 of the Summit.
"Across the Gulf, energy intelligence is becoming the operational reality as public and private sector enterprises race to align with national visions for a decarbonized and sustainable future,” said Amel Chadli, president, Gulf Cluster at Schneider Electric.
“As one of the most local of global companies, Schneider Electric is empowering customers to move beyond electrification and implement AI‑driven, software‑defined energy systems that deliver efficiency, resilience, and sustainability at a national scale. This summit offers a roadmap of what’s next as we continue to redefine the relationship between energy and digital capability.”
With AI, cloud, and high-performance computing becoming foundational to national competitiveness, energy technologies today must evolve and become resilient, sustainable and scalable to meet modern intelligence demands.
Schneider Electric's refreshed positioning as an energy technology partner reflects the company's approach to supporting the region's transformation.
Schneider Electric’s Innovation Summit Middle East & Africa highlights real-world applications across key sectors, including utilities, data centers, commercial buildings, industrial facilities, and critical infrastructure — demonstrating how intelligent energy management enables operational excellence, resilience, and sustainability across the region's most vital projects.
