The m20 is a secure reader that offers faster mobile transactions by leveraging the card swipe to capture and store encrypted cardholder data. The stored and encrypted cardholder data can be transferred from the m20 to a PC at a later time, when it is convenient for the mobile merchant. A PC-based application can retrieve the transactions to reconcile payments, orders, verify amounts, and process payments. The m20 will facilitate lower transaction fees for mobile merchants, as users of the device will now be entitled to card present discount rates. The m20 is the newest member of a growing family of secure card readers called MagneSafe secure readers, introduced by MagTek last year. MagneSafe readers not only encrypt card data but also provide an embedded but optional added level of security of authenticating the card and its encoded track data, rendering counterfeit or cloned cards useless. So even if a breach occurs, cardholders, merchants, acquirers and card issuers are protected.

The MagneSafe m20 is portable, small enough to fit in the palm of your hand and can be easily carried in your pocket or travel bag. The device is powered with a rechargeable battery and has its own memory capability, so dozens of encrypted cardholder transactions can be stored within the unit.

The entire family of MagneSafe readers offers extraordinary protection for online transactions, mobile merchants, and brick & mortar POS applications, empowering today’s retail and online consumers with the freedom and confidence of a secure, fast, and convenient transaction payment experience.

“The m20 is ideal for payment applications where wired connections or PCs are not accessible, making secure card transactions and card present rates available to mobile merchants,” said Mr. John Arato, Vice President and Business Unit Manager of MagTek, Inc. “Merchants who sell products and services on-the-go, can swipe a card, capture the encrypted card data, and process it later through their PC application when it’s convenient for them. Additionally, the m20 is a much lower cost alternative to expensive mobile POS devices and it is more secure, as data is fully encrypted when swiped and is never in the clear throughout the flow of the transaction,” concluded Mr. Arato.

For more information on the m20 and MagneSafe Secure Readers, please visit us at Booth #621 at the 2008 ETA Meeting & Expo in Las Vegas, NV.

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About MagTek

Founded in 1972, MagTek, Inc. is the leading provider of technology that makes electronic transactions safer, speedier and more comfortable. With its secure card readers, dependable check scanners, instant card personalization, robust PIN management, and identity verification systems, the company's products and components are used today in thousands of companies around the world. Every day, at supermarkets, gas stations, banks and credit unions, restaurants, casinos and hotels, on airplanes and time clocks, in ATMs, kiosks and POS terminals you may not see the MagTek logo, but the odds are great that you’ll use one of their products. 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, please visit  www.magtek.com.