MagTek and Element Payment Services, Inc. Showcase PCI Compliance & Fraud Protection in a Swipe at ETA
MagTek and Element Payment Services, Inc. (Element), two long standing leaders in innovative and 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™ 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, CIO 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 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:
- 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
- Secure Browser Based Card Present Swiped Transactions
- Comprehensive Online Reporting
- Easy-to-Use Merchant Interface
End-to-end data encryption from the moment the card is swiped, using the MagneSafe reader and Element's Virtual Terminal (www.elementexpress.com), 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, Inc.
For more information on Element's Virtual Terminal product or MagTek's MagneSafe Readers, please visit us at Booth # 709 at the ETA Show
About Element Payment Services, Inc.:
Element Payment Services, Inc. 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.