The National Association of Campus Card Users

MagTek and Element Payment Services, Inc. Showcase PCI Compliance & Fraud Protection in a Swipe at ETA

Carson, CA April 16, 2007 – MagTek, Inc. and Element Payment Services, Inc. (Element), two long-standing and innovative leaders in secure electronic payment technologies, team up to promote their state-of-the-art, fast-track solution for PCI compliance – PCI Compliance & Fraud Protection in a Swipe.

By combining their leading edge technologies, MagneSafe™ card readers and Element’s Virtual Terminal, MagTek and Element have undoubtedly created the fastest and most secure way for merchants to comply with PCI DSS; yet still enjoy the accessibility of real-time online credit card processing from anywhere at anytime.

Don Schroeder, CTO of Element says: “It’s not often, but occasionally a unique technology comes along that has the potential to change an entire industry. What happens even less frequently is the combination of two such technologies. By combining the ingenious MagneSafe card reader technology with a ubiquitous browser-based Virtual Terminal, MagTek and Element have done just that.”

MagneSafe card readers combine the following security technologies into a single device:

Multifactor authentication for secure log-in to any Internet site
Triple DES Dual Unique Key Per Transaction (3DES DUKPT) Data Encryption
MagnePrint® Card Authentication
Track 1, 2, and 3 Magstripe Card Reader (per ISO 7811 specifications)

Element’s Virtual Terminal provides the following features:

Multifactor authentication for secure log-in to any Internet site
Secure Browser Based Card Present Swiped Transactions
Comprehensive Online Reporting
Easy-to-Use Merchant Interface

Using MagTek’s MagneSafe reader and Element’s Virtual Terminal, the end-to-end data encryption from the moment the card is swiped allows merchants to comply with PCI DSS guidelines by protecting cardholder data throughout the entire payment process. Additionally, built-in MagnePrint card authentication technology (www.magneprint.com) passed through Element’s Virtual Terminal effectively eliminates the use of counterfeit or skimmed cards.

“The seamless integration of our MagneSafe reader technology equipped with MagnePrint card authentication technology and Element’s Virtual Terminal provides total fraud protection to the merchant and the card issuer in a single solution,” says Kiran Gandhi, Vice President, Business Development of MagTek.

For more information on Element’s Virtual Terminal product or MagTek’s MagneSafe card readers, please visit us at Booth # 709 at the ETA Show.

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About Element Payment Services, Inc.
Element Payment Services, Inc. (www.ElementPS.com) is a registered Merchant Service Provider that provides secure credit, debit, check conversion and guarantee, EBT, and gift/loyalty card solutions to restaurant, hotel, and retail merchants nationwide. Element has emerged as a true innovator in the payment processing industry. Today, Element services more than 30,000 merchants and 40 million transactions each year, and employs more than 50 employees in marketing, information technology, customer and technical support, operations, administration, and management at their Phoenix-based headquarters.

About MagTek
Since 1972, MagTek has been a world leader in electronic transaction technology, from magnetic stripe card readers and writers to high-accuracy MICR check readers and scanners, secure PIN issuance and cardholder verification systems. The company's products and components are in use today at point-of-sale (POS) and back-office locations in thousands of companies around the world; incorporated into kiosks and ATMs, banking customer service terminals, custom retail POS terminals, and restaurant and hospitality equipment. MagTek is based in Carson, 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.