MAGTEK LAUNCHES QWICKPAY, A SECURE "CARD PRESENT" POS SYSTEM FOR END-TO-END TRANSACTION SECURITY
April 13, 2010 (PRLEAP.COM) Technology NewsLas Vegas, NV. (April 13, 2010) – MagTek, Inc., a global leader in retail electronic payment security, today announced the launch of QwickPAY-an application and payment protection gateway powered by security service provider Magensa.net,
QwickPAY allows merchants to securely accept credit cards - anywhere, anytime - on a PC, Mac, or Smart phones like the iPhone 3G, iPad, Droid, and BlackBerry.
The QwickPay Payment Protection gateway is PCI compliant, and its redundant facilities are routinely audited by industry accredited professionals. QwickPAY is validated against the PCI SSC's (PCI Security Standards Council) strict regulations resulting in the immediate and full protection of customer account information.
"We are very excited about the release of QwickPAY and its ability to offer merchants of any size, a POS system designed to restore convenience and trust to the payment system," noted Annmarie "Mimi" Hart, MagTek's president and CEO. "As the payment card industry works to balance convenience with security, our focus is to protect the consumer, and with that, everyone wins except for the criminals."
MagTek leads with security from the inside, which is why the full suite of MagneSafe security features has been incorporated into QwickPAY. Merchants can be assured that all cardholder sensitive data is protected from the moment the card is swiped and never "in-the-clear". QwickPAY is further secured by MagneSafe's ability to generate dynamic payment card data — a necessary and achievable goal in fighting fraud, using existing magnetic stripe cards. This dynamic data offers a robust solution for immediate tokenization of the card data while further allowing the card to be authenticated in real-time to ensure it is not a fraudulent or skimmed card.
"The entire system allows merchants to leverage a layered approach to card data security. Unlike competitive systems that offer proprietary encryption using a static encryption key, or a session key that only changes once a day, QwickPAY delivers encrypted data based on Triple DES - an ANSI/ISO open standard and a unique key per swipe", added Mimi Hart. "This method of encryption and key management is regarded as best practice by industry experts. Other competitive offerings that do not change the encryption key with every swipe cannot offer the same level of security and can leave merchants exposed to fraud."
More information about MagTek's QwickPAY, please visit us at the ETA Annual Meeting & Expo, April 13-15, at Mandalay Bay Resort and Casino, Las Vegas, Nev., booth # 1119.
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.