MagTek Introduces MagneSafe IntelliHead, the Industry's First Secure Card Reading and Authenticating Counterfeit Resistant Security Module (CRSM)
November 03, 2009 (PRLEAP.COM) Technology NewsSEAL BEACH, Calif. – November 3, 2009 - MagTek®, Inc., a global leader in secure electronic payment technology, today announced the release of its MagneSafe IntelliHead, a modularized, 3-track secure card reader authenticator (SCRA) that sets new standards for protecting card data and stopping counterfeit card fraud. As the first secure card reading and authenticating counterfeit resistant security module (CRSM), the MagneSafe IntelliHead encapsulates its tiny MagnePrint® ASIC and communication electronics securely into a 3-track sensor, allowing OEM integrators to save design and development time by providing formatted data outputs, greater noise immunity, and snap in integration.
Ideal for securing the newest designs for outdoor payment terminals, ATMs, kiosks, POS terminals, PIN encrypting devices, small document scanners and access control systems, the MagneSafe IntelliHead supports a layered and scalable set of advanced security features designed to protect card data and stop counterfeit card fraud. This includes its ability to read and encrypt card data at the earliest possible point using AES or Triple DES algorithms and a distinct key per swipe, to mutually authenticate the reader to its legitimate host, to manage time bound sessions, to capture and transmit the dynamic digital identifiers of the card and the card data, and to leave behind a unique token of the transaction. When combined, these multiple layers of security provide the most practical and cost-effective transaction security solution available. ONLY MagneSafe secured devices offer this level of unmatched protection.
"The MagneSafe IntelliHead is more than just a magnetic read head," said Tom Patterson, MagTek's Chief Security Officer. "This tiny OEM module provides the entire industry with access to technology that will eliminate counterfeit card fraud and allow merchants and financial institutions to do more than just comply with regulations." The MagneSafe IntelliHead provides unmatched security for the transaction authorization process by transforming static card data into dynamic card data generated by the card's unique magnetic fingerprint. This magnetic fingerprint can be used to instantly verify the authenticity of the card and stop counterfeit card fraud before it happens. "MagTek is committed to doing what is necessary to make counterfeit cards a thing of the past. We have invested millions dollars acquiring the authentication patents, building out the technology, mass producing components and integrating MagneSafe technology into every product we ship", says Mr. Patterson.
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
Partners all over the globe are already successfully securing transactions with MagneSafe products. The MagneSafe IntelliHead is now available. For more information, please visit us at booth 601 at the BAI Retail Delivery Conference and Expo Meeting, November 3 – 5, in Boston, MA.
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.