Share this page

Delicious

MagTek® Introduces a Suite of MagneSafe™ Security Solutions for Complete End-To-End Transaction Security to Meet PCI DSS and PA DSS Requirements

- January 12, 2009

MagTek Inc, a world class provider of card readers, check readers and scanners, PIN Pads, card issuing system, and MagnePrint® credential authentication technology introduces its suite of MagneSafe Security solutions for Complete End-To-End Transaction Security meeting PCI DSS and PA DSS requirements at the NRF Convention and Expo, January 12th - 13th at the Javits Convention Center in New York City.

Merchants want to prevent the compromise of cardholder data that results in brand damage and loss of consumer confidence. They are facing challenges in meeting the requirements of PCI DSS and PA DSS and want to reduce the complexities and costs of the PCI audit process.

Now merchants can implement MagneSafe Transaction Security solutions within their own POS network. Doing so, reduces the burden associated with meeting PCI DSS and PA DSS requirements and prevents the costly negative publicity a merchant faces when data breaches occur within their own POS network.

MagTek’s MagneSafe Security Architecture ensures that card data is protected right from the first point of entry when the card is swiped by encrypting the data using industry Standard Triple DES encryption and DUKPT key management. The encryption process renders the cardholder data useless to thieves even if the network is compromised. Encryption and the flexible masking feature also ensure that all of the necessary elements of cardholder data such as the BIN routing number, cardholder name, and expiration date are available to the local POS application for processing without the risk of compromise. The encrypted data securely flows through the merchant’s POS network and can only be decrypted when it arrives at its secure host system where transaction aggregation takes place.

Additionally, the MagneSafe Transaction Security solution provides a migration path for the adoption of MagnePrint® card authentication technology to detect and prevent the use of counterfeit branded payment cards, private label payment cards, or gift cards. With this feature, the merchant can "future-proof" its investment in security and take the POS network beyond PCI DSS requirements.

“Because MagneSafe uses Triple DES DUKPT which is open and industry proven, the merchant has the option to use its own existing Host Security Module (HSM) for decryption of the transaction. Optionally, the merchant can also use an ASP service for decryption offered by Magensa LLC, a wholly owned subsidiary of MagTek. The freedom to do decryption in-house while not getting locked into a proprietary solution is a very attractive feature for merchants who see no advantage in having a contractual obligation to companies offering proprietary and un-vetted solutions,” said Kiran Gandhi, Vice President of Business Development at MagTek.

“MagneSafe’s open standard has won the support and has been adopted by two of the world’s largest POS terminal manufacturers. Now the MagneSafe Security suite is available from three world class suppliers” continued Kiran Gandhi.

MagneSafe Security Architecture is built into all MagTek products including OEM components, peripheral readers used for PC POS, card readers used in un-attended payment terminals, check readers and scanners, PIN Pads, as well as gift card issuing solutions.

Visit MagTek’s booth #1662 to see the demonstration of this exciting offering.

About MagTek

Since 1972, MagTek has been a leading manufacturer of electronic devices and systems for the reliable issuance, reading, transmission and security of cards, checks, PINs and other identification documents. Leading with innovation and engineering excellence, MagTek is known for quality and dependability. Its products include secure card readers, check scanners, PIN pads and distributed credential issuing systems. These products are used worldwide by financial institutions, retailers, hotels, law enforcement agencies and other organizations to provide secure and efficient electronic payment and identification transactions.

Today, MagTek continues to innovate with the development of a new generation of security centric products secured by MagneSafe. By leveraging strong encryption, secure tokenization and real time authentication, MagneSafe products enable users to assess and validate the trustworthiness of credentials used for online identification, payment processing, and other high-value electronic transactions.

MagTek is based in Seal Beach, California and has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries. For more information, please visit www.magtek.com.