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Table of Contents

Lead Story

Getting real about payments

Patti Murphy

News

Industry Update

EMV liability shift challenged in federal court

TSYS, Ethoca unite against CNP fraud

CFPB fines Dwolla over data security lapses

The high cost of omnichannel retail

Features

Prepare now for tax season 2017

Taking your business to the next level - Part 2

Acquirer Earnings Roundup: March 2016

Mobile bill pay on fast track

Views

POS for all seasons

Dale S. Laszig
DSL Direct LLC

Resolutions + neutraceuticals = chargebacks

Monica Eaton-Cardone
Chargebacks 911

Education

Street SmartsSM:
Notes on the path less traveled

Jeffrey I. Shavitz
TrafficJamming LLC

What to do when a processor stops paying

Adam Atlas
Attorney at Law

Chargebacks, fraud in high-risk merchant accounts

Matt O'Shea
National Bank Services

Company Profile

BlueSnap

New Products

Database security, enterprise scale

HexaTier 4.0
HexaTier

Flexible, reliable, secure card reader authenticator

eDynamo
MagTek Inc.

Inspiration

Keep it neat and clean

Departments

Readers Speak

Letter from the Editors

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

March 28, 2016  •  Issue 16:03:02

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New Products

Flexible, reliable, secure card reader authenticator

Product: eDynamo

MagTek MagTek Inc., an electronic device and systems manufacturer established in 1972 and based in Seal Beach, Calif., released eDynamo, the newest addition to its line of secure card reader authenticators. The eDynamo can read magnetic stripe and contact EMV (Europay, MasterCard and Visa) cards. Its versatile design and small footprint enable the eDynamo to connect to fixed POS systems through a USB port and mobile devices via Bluetooth Low Energy (BLE).

The eDynamo has a dual interface, making it compatible with both Microsoft Windows operating systems and BLE-enabled devices. When connected in mobile mode via BLE, the device's low energy consumption extends the life of its rechargeable battery. When used in fixed POS environments, the eDynamo draws continuous power from the USB port of the primary processing device.

Secure architecture

MagTek noted its card reader authenticators are built for maximum security using MagneSafe Security Architecture (MSA), a multilayered security that uses strong encryption, tokenization, counterfeit detection, tamper recognition, data relevance and integrity, and dynamic digital signatures. A key feature of MSA is its use of MagnePrint, a patented card identification technology based on the unique physical properties of individual magnetic stripe cards.

"Years ago, before high-profile breaches or the current push to EMV, we saw a need to transition devices away from static cardholder data in the clear," said Andy Deignan, Vice President and General Manager, OEM SolutionsĀ at MagTek. "EMV delivers dynamic payment card data, but the real battle in the [payments] industry is not over static versus dynamic data. It's about the future redemption value of the transaction, and EMV is not the only way to accomplish that goal." Deignan went on to say that each mag-stripe card is unique and has the ability to generate dynamic data due to its microscopic makeup. He used two pieces of paper as an example. Both might look the same, but under a microscope different patterns and fibers will appear. Similarly, MagnePrint technology can read the unique dynamic data on each card, which occurs at the moment the card is manufactured and remains unchanged throughout the life of a card.

Simple integration, implementation

MagTek provides a suite of software developer kits for iOS mobile, Android and Windows operating systems. The kits contain application program interfaces that can further simplify card reader integration into retail and hospitality environments while significantly reducing the costs and effort associated with EMV compliance, the company noted. The eDynamo is compatible with other MagneSafe devices and comes with versatile mounting options. It can be mounted or hand held and requires no wire management or hole drilling. An optional docking station is also available. The device is ergonomically designed for maximum first time read rate, the company stated.

Whether eDynamo is used as a mobile or countertop device, its secure card reader authenticator and contact EMV reader for chip cards enable merchants to accept mag-stripe and chip card payments. Its combination of MagnePrint and EMV technologies provide users with the enhanced card data protection, transaction security and convenience needed to secure mobile applications with strong encryption and patented card authentication.

Blends classic, emerging technologies

MagTek pointed out that its newest secure card reader authenticator blends old and new technologies into a small, versatile device that provides:

  1. Level 1 and Level 2 EMV compliance
  2. MagnePrint card authentication
  3. Rechargeable battery with five-year life via industry-standard USB cables
  4. General status LED (red/green/amber)
  5. Bluetooth status LED
  6. Built-in lanyard attachment
  7. Open standards-based encryption 3DES
  8. Derived unique key per transaction key management
  9. Unique non-chargeable device serial number
  10. Immediate card data tokenization
  11. Device/host authentication
  12. Time bound session IDs
  13. Ergonomic design to simplify card swiping
  14. In addition, the device requires no additional wires or cables, handles up to 1,000 card swipes between charges, and is compatible with computers, tablets and smartphones.

    Website: www.magtek.com Contact: sales@magtek.com

    Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems