MagTek’s IPAD PIN Entry Device Provides Greater Security and Customer Authentication for Financial Institutions

SEAL BEACH, Calif.--(BUSINESS WIRE)--MagTek, Inc., a global provider of the most secure electronic payment technology, today announced its new IPAD, a PED 2.0 certified secure PIN entry device that incorporates MagTek’s MagneSafe™ security architecture. MagneSafe encrypts data at the point of swipe, safeguarding personal information encoded on the magnetic stripe using industry proven 3DES. The encryption takes place within an encapsulated magnetic read head as the card is swiped eliminating the chance of intercepting clear text data.

As part of the security architecture, MagneSafe mutually authenticates the IPAD and its host ensuring the integrity and legitimacy at both points of the transaction. This unique security function thwarts the efforts undertaken by organized criminals who have been successful with substituting compromised devices at teller windows and capturing valuable and vulnerable personal cardholder data.

In addition, the IPAD has MagnePrint®, a magstripe embedded security feature that authenticates the debit, credit or ATM cards already in circulation, rendering counterfeit or cloned cards useless. So even if a criminal manages to acquire cardholder and PIN data and manufactures counterfeit cards, they can be detected and the transaction can be declined preventing fraud losses while building consumer confidence.

The IPAD is a small device that can be handheld or easily mounted on counters. Among the many features that IPAD delivers, it also provides a USB 2.0 powered interface, a graphics LCD with backlight, a locking cable connection, and as an option, signature capture and a privacy shield.

“In today’s electronic transaction environment, cardholder security is paramount. The early PCI PED 1.0 standard placed a significant burden on financial institutions to enhance security. The new PCI PED 2.0 standard will add new challenges for the industry in order to comply,” said Andy Deignan, Vice President, Financial Business Unit at MagTek. “The IPAD surpasses all the requirements of the new standard by offering the advanced functionality found in MagneSafe. Financial Institutions should be diligent and make sure their product purchases not only comply with the new 2.0 standard but protect their investment with the added security only found in IPAD,” added Mr. Deignan.

For more information on MagTek’s IPAD, please visit us at booth 1941 at the BAI Retail Delivery Conference and Expo Meeting in Orlando, FL.

About MagTek

Founded in 1972, MagTek, Inc. is the leading provider of technology that makes electronic transactions safer, speedier and more comfortable. With its secure card readers, dependable check scanners, instant card personalization systems and robust PIN management and identity verification solutions, MagTek products are used around the world at supermarkets, gas stations, financial institutions, restaurants, casinos, hotels, on airplanes, in time clocks, ATMs, kiosks and POS terminals. The MagTek logo may not be visible but the odds are great that you’ll use one of its products every day. 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, visit www.magtek.com.