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PayPal Virtual Terminal Safeguards Merchant Transactions with MagneSafe Secure Card Reader from MagTek - February 9, 2009

MagneSafe Enables Users of PayPal Virtual Terminal Software to Save Time and Reduce Errors By Swiping Instead of Typing

MagTek®, Inc., a global leader in secure electronic payment technology, today announced that users of PayPal Virtual Terminal can save time and reduce errors by using the MagneSafe™ Mini secure card reader from MagTek. Designed to provide superior card data privacy as well as authentication for credit and debit card transactions, the MagneSafe Mini helps merchants avoid keying errors and speeds card transaction processing.

The MagneSafe Mini easy-to-use card reader plugs directly into a computer’s USB drive, and provides maximum security for all face-to-face transactions. The reader can be used anywhere there is a computer, Internet access, and a customer’s debit or credit card. With one quick swipe, the MagneSafe Mini reader captures the customer’s name, card number, expiration date, and card type – and they are then all posted automatically to the merchant’s PayPal Virtual Terminal order form.

“PayPal Virtual Terminal is a powerful solution to help merchants expand their business, save money and deliver faster products and services for their customers, “ said Doug Free, Vice President, Retail Business Unit for MagTek. “By using the MagneSafe Mini reader merchants can take the value of their Virtual Terminal services one step further with the assurance of encrypted data for enhanced security and PCI compliance.”

Merchant benefits of the MagneSafe Mini secure card reader include:

• Increased data accuracy: By swiping credit and debit card information, instead of typing, merchants can avoid keying errors and speed up the credit card payment process.

• Assured security: Encryption provides increased security for credit card information and reduces risk relating to opportunity for stolen card data at PayPal merchant locations.

• PCI Compliance: The MagneSafe Mini secure card reader meets PCI DSS requirements for secure cardholder data encryption

“Today’s online merchants are looking for ways to shorten transaction processing times without risking information accuracy,” said Rahul Bhargava, senior director of merchant solutions at PayPal. “The MagneSafe Mini secure card reader, in combination with PayPal Virtual Terminal, is a great solution because it saves time, reduces errors and gives merchants confidence that their customers’ data is always safe and secure.”

About the MagneSafe Mini Secure Card Reader

At just 100mm in length, the MagneSafe Mini secure card reader has been specifically designed to meet PCI DSS requirements to secure cardholder data via 3 DES DUKPT encryption. Self-powered through a USB port, the secure reader can be connected to any PC or terminal with a USB interface. The device features MagnePrint card authentication technology that enables secure transactions for magstripe documents including credit cards, debit cards, gift cards, ATM cards and ID cards.

Pricing and Availability

The MagneSafe Mini is available now by ordering direct from Dell. Pricing starts at $79.99 USD. For more information, please visit: www.paypal.com/vtswipe

About Magensa

Magensa LLC is a fraud prevention, detection and advisory service. It maintains a globally accessible registry of authentication information so that consumers, financial institutions, retailers, businesses and governments can assess the validity and trustworthiness of the credentials and products they rely upon in the course of online identification, payment, and other important transactions. Additionally, Magensa provides token management and cryptographic services, vital to the protection of cardholder data, the payment system, and personal or sensitive information. Magensa is a subsidiary of MagTek, Inc. For more information, please contact your Magensa sales representative at info@magensa.net or call 562-546-6500.

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.