The Merchant or ATM passes the Qwick Code on to its Payment Gateway, Network or Processor.
The Payment Gateway, Network and Processors have an established, secure SSL channel with Magensa. net with Digital Certificates on both sides. The Qwick Code is authenticated and securely exchanged for the actual card swipe data.
This process allows the consumer to maintain and secure their own card swipe data while the Merchant and ATMs have no direct access to sensitive, personally identifiable information.
Consumers can generate an unlimited number of Qwick Codes that they can securely store in their Qwick Codes Mobile Wallet. They set the dollar limit, an expiration date, even a password for a second factor of authentication.
When the Payment Gateway, Network or Processor submits a Qwick Code to Magensa.net, the magstripe swipe data and an optional encrypted PIN block is returned. This data is inserted into the authorization request message, and is passed through the usual payment infrastructure.
This method provides the consumer with total control over the transaction. The Merchant/ATM gets what it needs: a signature, a swipe, an encrypted PIN and the amount he will be paid for the goods and services to be delivered. The Payment Processor/Network receives what it needs to request authorization and return the appropriate message back to the Merchant/ATM.