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MagTek Receives “Innovation
Award” from the China International
Financial Technology and Equipment
Association |
Carson, CA – November 7, 2006
– MagTekŪ Inc, a global leader in
electronic payment technology, today
announced it has been awarded the
2006 “Innovation Award” by the China
International Financial Technology
and Equipment (CIFTEE) Association
for the category representing
Financial Information and
Technology.
MagTek was selected for its
innovative product, the ExpressCard
1000 (EC 1000), the industry’s first
‘all in one’ Instant-Issuance and
complete card personalization
platform for Credit, Debit, ATM and
Gift financial cards, combined in a
single device which provides both
physical and logical security
features required for a branch
location offering instant card
issuance.
The ExpressCard 1000 is equipped
with a MagnePrint Reference Capture
module that allows each card’s
unique MagnePrint signature to be
captured and registered upon
issuance to the legitimate
cardholder. This registered
MagnePrint value can then be used to
protect rightful cardholders by
validating that the authentic card
is being used at ATM, Teller Window,
Online Banking or POS locations
versus an altered or counterfeit
copy.
“We are proud to be recognized by
CIFTEE, and pleased that our EC 1000
product provides real benefits for
Financial Institutions to strengthen
loyalty with their cardholders” said
Lou Struett, Executive Vice
President of MagTek, Inc. “It is an
honor to receive this award,
especially from CIFTEE, because they
recognize the value for institutions
to be able to provide their
cardholders with the speed and
convenience of instant-issuance
financial cards at a branch
location.” said Mr. Struett.
The ExpressCard 1000 is a secure
end-to-end solution for financial
institutions with all of the
benefits of a distributed
instant-issuance system, whilst
maintaining centralized control over
all operations from a central
security center.
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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.
About CIFTEE
China International Exhibition on
Financial Banking Technology and
Equipment ("CIFTEE" in brief) is an
annually large-scale international
exhibition on financial information
and technology. It is authorized by
the Ministry of Science and
Technology of P.R China and the
People's Bank of China (P.B.C in
brief), sponsored and organized by
China Financial Computerization
Corporation of PBC, supported by the
Division of Science and Technology
of the People's Bank of China and
the Information Center of China
Banking Regulatory Commission, and
co-organized by the information &
science department of 27 financial
bodies, including policy-based
banks, state-owned commercial banks,
joint-stock commercial banks, asset
management companies, insurance
companies, China UnionPay
Corporation. Ltd. and China Banking
Association. |
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