MagTek launched iDynamo, a secure card reader authenticator, specifically designed to interface with card present payment applications made for the iPad, iPhone 3G and 3GS, and iPod Touch.
iDynamo is available to end-users who want to process payments from their phone as part of its MagneSafe integrated solution to fully encrypt and protect cardholder data at the earliest point of entry—when the card is swiped.
Additional capabilities allow the iDynamo to generate dynamic payment card data using the existing magnetic stripe cards. This dynamic data offers a robust solution for the immediate tokenization or substitution of sensitive card data, thereby removing it from the merchant’s systems while further allowing the card to be authenticated in real-time to ensure it is not a fraudulent or skimmed card.
John Arato, VP of MagTek’s retail business unit said: “As fraud continues to be an issue for the payment industry, we recognize our customers need products that will help them to mitigate their risk and comply with the PCI Data Security Standards while making the solution affordable for any size merchant.”