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MagTek announces its MagneSafe tech meets Visa best practices for encryption

October 13, 2009

MagTek Inc. a provider of secure electronic payments technology, today announced that its MagneSafe technology for Secure Card Reader Authenticators (SCRAs) meets and exceeds Visa's recently published best practices for end-to-end encryption.

According to a news release from MagTek, MagneSafe also combines all five of the emerging technologies identified by PricewaterhouseCoopers in its "Emerging Technology Research" report on PCI. The five emerging technologies are dynamic payment card data, magnetic-stripe imaging, end-to-end encryption, "tokenization" and virtual terminals.

Annmarie D. Hart, president and CEO of MagTek, says the company's ultimate goal is consumer protection:

We have delivered tens of thousands of MagneSafe SCRAs to leading merchants in need of PCI compliance, but the heart of our work is consumer protection and fraud elimination. That's the ultimate remedy. It will negate the need for compliance and give us back exceptional payment card security and convenience.