MagTek is a world leader in electronic transaction technology. From magnetic stripe card readers and writers to high-accuracy MICR cheque readers and scanners, secure PIN issuance and cardholder verification systems.
MagTek’s products and components are in use today in thousands of companies around the world, incorporated into kiosks and ATMs, banking customer service terminals, custom retail POS system readers, terminals, at the point-of-sale (POS) and back-office locations and restaurant and hospitality equipment.
MagTek also addresses security and the risks of online banking “Phishing” as well as “Skimming” at the point of sale, by offering a strong two-factor authentication using existing ATM, Debit, Credit and Gift Cards throughout multiple business channels and vertical markets.
MagTek’s MagnePrint technology is able to detect cards that have been illegally reproduced (“skimmed”) as well as cards that have had their data altered.
MagnePrint is based upon the principle that all magnetic stripes are intrinsically unique due to the random distribution of the magnetic particles. When viewed as an aggregate, the billions of magnetic particles create a unique magnetic fingerprint which is referred to as the “MagnePrint”. The MagnePrint value changes dynamically with every swipe of the card providing a onetime use verifiable password (OTP), obtained from a unique, secure and non-reproducible token.
All magnetic stripe cards have this property. Thus, MagnePrint has the additional benefit that there is no need to reissue cards to consumers. The existing magstripe cards in the wallets of consumers are already “MagnePrint enabled” and ready for use.
To bank, shop, work, play, communicate and exchange services in a safe and worry-free environment.
We deliver MagneSafe™ secured devices and services across the globe to governments, financial institutions, merchants, and parties committed to safer transactions. Our fraud fighting solutions are simple, practical, scalable and cost effective. We strive to protect the identity, privacy, assets, and safety of our customers and their customers.
- MagTek is the most experienced and innovative provider of secure transaction technology to the payment card industry.
- MagTek provides PCI-compliant products that process, encrypt, tokenize and authenticate millions of magnetic card transactions daily, facilitating over a trillion dollars of world-wide commerce each year.
- MagTek leads the payment industry’s campaign to wipe out counterfeit card fraud, saving banks, processors, merchants and consumers billions of dollars annually, effectively eradicating an entire category of crime.
MagTek Corporate Information
MagTek HQ is in Seal Beach, California. USA. All principle engineering and final production activity takes place at the Seal Beach site. A global engineering support office is located in Vadnais Heights, Minnesota, and a regional sales office in Fort Lauderdale, Florida.
MagTek Group has further sales and logistics centres in European and South East Asia. The MagTek Europe HQ is based in Swindon, United Kingdom, and the South East Asia HQ is based in Bangkok, Thailand. Further group offices are located in Australia and New Zealand.
The regional organisations above service and support independent distributors in over 40 countries.
Founded in 1972, MagTek’s mission is to understand the business of our customers and prospective customers, assess their needs and provide creative, responsive, timely, cost effective products by drawing upon our extensive experience and resources.An intrinsic part of the MagTek vision is for green and paperless banking products to be enabled through constant innovation and secure system creations that integrate seamlessly into everyday financial transactions.
MagTek is committed to designing, manufacturing and delivering quality products, which meet or exceed customer and regulatory requirements.
Our vision is to bank, shop, work, play, communicate and exchange services in a safe and worry-free environment.
We embrace the challenges posed by the evolving payment and identification landscape and respond by tirelessly exploring ways to enhance the end-user experience while advancing security at every touch point in the transaction.