MagTek Launches QwickPAY, the Innovative Secure Mobile Payments Service, Into the Android Marketplace
March 29, 2011 (PRLEAP.COM) Technology NewsSeal Beach, CA (March 29, 2011) – MagTek, Inc., a global leader in retail payment security, today announced that QwickPAY – it's secure mobile payments solution – is available in the expanding Android Market.
QwickPAY allows merchants to securely accept credit, debit and gift payment cards – anytime, anywhere, anyplace – on a PC, Apple's iOS devices and now, Android smartphones and tablets. The application, combined with MagTek's BulleT secure card reader authenticator, allows users to transform their Android device into a highly secure POS payment terminal.
MagTek's BulleT secure card reader authenticator leverages the MagneSafe™ Security Architecture (MSA), a layered approach to transaction security which consists of four key pillars: open standards encryption (3DES, DUKPT), secure tokenization, authentication and dynamic data. The BulleT encrypts and protects cardholder information at the earliest point of the mobile transaction – when the card is swiped. The Android device then establishes a secure link to QwickPAY's payment protection gateway, where the card's authenticity can be verified and the transaction details forwarded to a PCI certified payment processor for authorization.
"With the Android market exploding, we want to ensure all mobile merchants using the Android platform have the benefit of a highly secure mobile payment solution," said Mimi Hart, MagTek's President and CEO. "As merchants grow their businesses into the mobile marketplace, they should not have to worry about compromising payment security. QwickPAY was developed to provide that security."
Using QwickPAY, mobile merchants can trust that sensitive cardholder data is protected from the moment the card is swiped and never "in-the-clear". QwickPAY also employs MagneSafe's ability to generate dynamic payment card data using existing magnetic stripe cards, providing a necessary resource in fighting card fraud. This dynamic data offers a robust solution for immediate tokenization of card data while allowing the card to be authenticated in real-time to ensure it is not a fraudulent or skimmed card. QwickPAY delivers convenience and affordability while providing unsurpassed data security.
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 reader authenticators, small document scanners, PIN pads and card personalization and issuance 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 Protection Services secured by the MagneSafe™ Security Architecture. By leveraging strong encryption, secure tokenization, real-time authentication and dynamic transaction 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.