SEAL BEACH, CA (May 10, 2011) – MagTek, a worldwide leader in retail electronic payments security technology, has been chosen to provide its MagneSafe Security Architecture – a dynamic digital identification and MagnePrint® authentication technology that safeguards consumers and their personal data – to support VirtualMerchant Mobile, an advanced mobile payment solution offered by Elavon, a wholly-owned subsidiary of U.S. Bancorp (NYSE: USB) and leading global payments provider.
VirtualMerchant Mobile is an innovative offering that will be made available to any merchant, large or small, who requires an easy and affordable card present or card-not-present mobile payment solution. By utilizing MagTek's iDynamo and BulleT secure card reader authenticators, Elavon will deliver the highest level of security available in the mobile payments landscape to their merchants.
"MagTek's MagneSafe Security Architecture and iDynamo and BulleT readers are the ideal components for our new mobile payment solution," said Gavin Rosenberg, VP of Product Marketing at Elavon. "Combining MagTek's reputable security products with our VirtualMerchant Mobile application underscores our commitment to providing secure solutions that enable commerce for our customers.”
"Elavon has made it clear they will boldly address the call for better security in mobile payments by selecting two of our most admired Secure Card Reader Authenticators, the iDynamo and BulleT, " said John Arato, VP of Sales for MagTek.
The flexible hardware design of the iDynamo and BulleT enables Elavon's VirtualMerchant Mobile solution to support multiple form factors, including most Apple®, Google® Android and BlackBerry® Smartphones. The easily deployable, secure solution will be marketed through Elavon's vast network of sales channels.
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, real time authentication and dynamic payment card data, 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.
Elavon's Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB) and provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada, Mexico and Puerto Rico. Elavon markets solutions including credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring through multiple alliance channels including financial institutions, trade associations and third party sales agents. Elavon's suite of solutions is tailored to meet the needs of merchants in specialized markets such as small business, retail, hospitality/T&E, health care, education and the public sector. Visit www.elavon.com for more information.