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MagTek, Merchant Warehouse Offer New Card Authentication, Fraud Protection Solutions

MagTek, a global provider of retail electronic payment security services, has deployed MerchantWARE SECR and MerchantWARE Mobile solutions from Merchant Warehouse, a provider of merchant accounts and credit card processing solutions, for securing credit card data and other sensitive, customer information.

The MerchantWARE suite is fully compliant and PA-DSS validated. Its protection is made possible via MagneSafe, a security architecture leveraging a layered approach to transaction security which allows MerchantWARE SECR and MerchantWARE Mobile to protect transactions from the point of swipe all the way to authorization.

MagneSafe performs immediate encryption and tokenization of card data inside the read head, thereby protecting it from being exposed while it generates dynamic payment card data with every swipe. The approach to transaction security protects the cardholder and the merchant by making stolen card data useless for criminals and identifies counterfeit cards, using MagnePrint card authentication, when presented for card-present transactions. Merchant Warehouse supports MagnePrint and is now able to offer this extra layer of protection to their merchants.

Merchant Warehouse recognizes MagTek as a provider of magnetic reading solutions and supports several of its MagneSafe secured products with the MerchantWARE SECR solution and MerchantWARE Mobile, mobile payment applications for the Blackberry, Google, Android and Windows Mobile smart phones.

Additionally, MagTek now offers iDynamo, an easy to install and use secure card reader authenticator designed specifically for the iPhone/iPod Touch which will be compatible with MerchantWARE Mobile for the iPhone and iPod Touch.

Tom Patterson, chief security officer of MagTek, said: “MagTek and Merchant Warehouse share a common voice when it comes to providing cost effective, scalable and highly secured payment processing solutions. Merchant Warehouse is a leader in payment processing innovation, and together we are working to end counterfeit card fraud and save merchants billions of dollars in annual fraud losses.”

Henry Helgeson, co-CEO of Merchant Warehouse, said: “I believe the simplicity and strength of the MagTek solution only makes our payment processing solutions better and further solidifies our commitment to bringing the most secure and innovative security products to the payment processing industry.

“We’ve seen many security products in this industry, but none come close to the security and consumer protection that the MagneSafe and MagnePrint solutions offer. We know that together, we are offering the strongest and safest solution to our partners, their merchants and their customers.”