PayPal Virtual Terminal Safeguards Merchant Transactions with MagneSafe Secure Card Reader from MagTek

SEAL BEACH, Calif. – February 10, 2009 - MagTek®, Inc., a global leader in secure electronic payment technology, today announced that users of PayPal Virtual Terminal can save time and reduce errors by using the MagneSafe™ Mini secure card reader from MagTek. Designed to provide superior card data privacy as well as authentication for credit and debit card transactions, the MagneSafe Mini helps merchants avoid keying errors and speeds card transaction processing.
The MagneSafe Mini easy-to-use card reader plugs directly into a computer's USB drive, and provides maximum security for all face-to-face transactions. The reader can be used anywhere there is a computer, Internet access, and a customer's debit or credit card. With one quick swipe, the MagneSafe Mini reader captures the customer's name, card number, expiration date, and card type – and they are then all posted automatically to the merchant's PayPal Virtual Terminal order form.

"PayPal Virtual Terminal is a powerful solution to help merchants expand their business, save money and deliver faster products and services for their customers, " said Doug Free, Vice President, Retail Business Unit for MagTek. "By using the MagneSafe Mini reader merchants can take the value of their Virtual Terminal services one step further with the assurance of encrypted data for enhanced security and PCI compliance."

Merchant benefits of the MagneSafe Mini secure card reader include:
- Increased data accuracy: By swiping credit and debit card information, instead of typing, merchants can avoid keying errors and speed up the credit card payment process.
- Assured security: Encryption provides increased security for credit card information and reduces risk relating to opportunity for stolen card data at PayPal merchant locations.
- PCI Compliance: The MagneSafe Mini secure card reader meets PCI DSS requirements for secure cardholder data encryption.

"Today's online merchants are looking for ways to shorten transaction processing times without risking information accuracy," said Rahul Bhargava, senior director of merchant solutions at PayPal. "The MagneSafe Mini secure card reader, in combination with PayPal Virtual Terminal, is a great solution because it saves time, reduces errors and gives merchants confidence that their customers' data is always safe and secure."

About the MagneSafe Mini Secure Card Reader
At just 100mm in length, the MagneSafe Mini secure card reader has been specifically designed to meet PCI DSS requirements to secure cardholder data via 3 DES DUKPT encryption. Self-powered through a USB port, the secure reader can be connected to any PC or terminal with a USB interface. The device features MagnePrint card authentication technology that enables secure transactions for magstripe documents including credit cards, debit cards, gift cards, ATM cards and ID cards.

Pricing and Availability
The MagneSafe Mini is available now by ordering direct from Dell. Pricing starts at $79.99 USD. For more information, please visit: www.paypal.com/vtswipe

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 are using one of its products. Based in Seal Beach, California, MagTek has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries.