MagTek's IPAD® Achieves PCI PED 2.0 Certification
November 03, 2009 (PRLEAP.COM) Technology NewsSEAL BEACH, Calif. – November 3, 2009 - MagTek®, Inc., a global leader in secure electronic payment technology, today announced full PCI PED 2.0 certification for its IPAD family of PIN encrypting devices (PEDs). By incorporating MagneSafe™ technology, MagTek once again leads the industry's charge in the battle against counterfeit card fraud. The IPAD is the first PED 2.0 device that protects the PIN and the card data as it authenticates the payment card used in PIN-based or electronic signature capture transactions. It provides strong encryption at the instant of swipe, a secure transaction token, and dynamic data authentication for an unmatched level of security.
The IPAD uses a 32bit security processor and has multiple independent levels of anti-tamper protection. Its capacitive touch keypad system is designed to detect attempts to move or tamper with the keypad. IPAD also supports secure PKI-based factory and remote key injection eliminating the need to return the unit in the event a new key is required. "Our goal was to build the most secure PIN entry device at a competitive cost while maximizing its operational functionality said Adriano Canzi, MagTek's Vice President for Technology Development. "Achieving PCI PED 2.0 was made easier in part by the advanced security features of MagneSafe."
The IPAD only needs a USB connection. Plug it in to begin the fight against transaction fraud. Its users can take advantage of its layered and scalable security to achieve PCI compliance. Real value is gained by fraud reduction, fewer chargebacks, better consumer privacy, greater identity protection, and the ability to spot tampered, skimmed or sniffed cards. With a MagneSafe protected IPAD, consumers, merchants, and financial institutions win; criminals lose.
As active participants in the evolving payment standards since 1972, MagTek and its Chief Security Officer, Tom Patterson, are leading an industry-wide crusade to wipe out counterfeit card fraud once and for all. "Counterfeit cards have a huge cost on banks, processors, merchants, and consumers, and everyone will benefit from a collective effort to save over $4 billion dollars a year in fraud. We believe the IPAD family of PEDs will offer merchants and financial institutions real protection worth their investment," says Mr. Patterson." Look for IPAD's MagneSafe logo at the point of swipe. There is no stronger, more practical solution available today for consumer protection."
To hear more from Tom Patterson, please attend a special VIP event: "Stopping Financial Cyber Crimes" on Wednesday, Nov. 4 at 6:45pm at the Boston Westin Waterfront Hotel. This one night only event is during the BAI Retail Delivery Conference and Expo. Register at email@example.com
MagTek's IPAD is now available. For more information on MagTek's IPAD family of PED devices, please visit us at booth 601 at the BAI Retail Delivery Conference and Expo Meeting, November 3 – 5, in Boston, MA.
The IPAD is part of the MagTek MagneSafe family of products. MagneSafe is a digital identification and authentication architecture which safeguards consumers and their personal data. Designed to exceed PCI regulations, it leverages strong encryption, secure tokenization, counterfeit detection, tamper recognition, data relevance and integrity, and dynamic digital transaction signatures to validate the entire transaction and each of its components. A key feature of MagneSafe is MagnePrint® card authentication, a proven technology which reliably identifies counterfeit credit cards, debit cards, gift cards, ATM cards and ID cards at the point of swipe, before fraud occurs. MagneSafe's multi-layer security provides unmatched protection and flexibility for safer online transactions.
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.