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Las
Vegas, NV – November 13, 2007-MagTek,
Inc. announced today that it will
demonstrate its MagnePrint® card
authentication security technology
integrated within an ATM motorized
card reader transport designed by
Nidec Sankyo Corporation of Japan,
at the BAI Retail Delivery
Conference in Las Vegas, Nevada on
November 13th through the 15th.
Nidec Sankyo is the leading supplier
of motorized card reader transports
to major ATM manufacturers
world-wide.
This concept product
will combine MagTek’s MagnePrint®
card authentication technology
within a motorized ATM card reader,
and show how this innovative card
authentication technology can be
used to detect and prevent the use
of counterfeit or “skimmed” (copied)
magnetic stripe cards at ATMs.
Today, criminals are using
sophisticated methods to steal
consumer’s ATM card information and
then make fraudulent copies of
consumer financial cards. These
fraudulent activities cost financial
institutions billions of dollars
each year and erode consumer
confidence. MagnePrint card
authentication technology can
prevent this type of fraud at ATM’s,
and has the additional advantage of
leveraging the existing magstripe
financial cards that are already in
consumer’s wallets.
MagnePrint® is based
upon the scientific discovery that
no two magnetic stripes are alike,
due to the unique and random pattern
of micro magnetic particles that
comprise each and every magnetic
stripe. MagnePrint can utilize
these unique features to determine
the authenticity of a financial card
and to distinguish it from a
counterfeit copy. MagnePrint
technology transforms any standard
magnetic stripe card into a unique
and one-of-a-kind physical security
token. MagnePrint also provides
a Dynamic Card Verification Value to
uniquely identify the card as a
secure token.
MagTek has created the MagneSafe™
family of hardware modules to read
the MagnePrint value from a card
used at ATM, and the MagneScore™
software module, which when
integrated into the ATM transaction
host, can authenticate that card as
part of transaction authorization.
“MagnePrint® is the only technology
that completely eliminates the use
of cloned ATM magnetic stripe cards.
It also effectively eliminates the
liability losses due to
card-skimming” says Kiran
Gandhi, VP of Business Development
at MagTek, Inc
For
more information on MagTek and Nidec
Sankyo’s innovative card security
solution, please visit us at Booth
#929 at the BAI Retail Delivery
Conference & Expo. |
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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. For more information,
visit
www.magtek.com. |
