Internet Phishing, Pharming, and Keystroke Logging are becoming common tools for criminals to use in hijacking User IDs and Passwords from unsuspecting consumers as they log-in to Internet sites using their PCs. Once armed with this information, criminals can easily tap into computer networks and steal personal data or intellectual property.
This criminal activity is costly in terms of stolen property, litigation, national security, and reduced consumer confidence. As a result, businesses and government institutions are demanding proactive protection, which prevents illegal access to their networks, and they want this protection in a form that is cost- effective and easy to implement.
That’s where MAGENSA comes in. MAGENSA is a Trusted Verification Authority (TVA) that provides real-time remote-hosted credential authentication services that allow transaction processors and financial institutions to integrate PCI DSS and FFIEC compliant multifactor authentication, data encryption, website authentication, and data federation capabilities into their existing transaction processing infrastructures.
Utilizing MAGENSA’s secure technologies, cardholder data is encrypted from the moment the card is swiped through the card reader – eliminating the possibility for the ‘man in the middle’ attack for online transaction processing such as secure Internet banking, secure e-Commerce, secure online brokerage, and secure website access.
Unprecedented Data Security
Using the familiar magstripe card credentials (secure tokens) that a financial institution or retailer has already issued to its customers, MAGENSA is powered by the trusted and proven card authentication technology known as MagnePrint® (www.magneprint.com).
MagnePrint is a card authentication technology that detects “skimmed”
or magnetically altered counterfeit magstripe cards, transforming the traditional magstripe card into a powerful security token.
Just as fingerprints uniquely identify human beings, MagnePrint uniquely identifies magstripe cards. Magstripes have billions of tiny magnetic particles that are scattered in a random pattern of various shapes and sizes. This random particle pattern exhibits an “intrinsic and unique noise” that is readable data when connected to a MagneSafe card reader.
MagnePrint provides “real-time” data for the authenticity of the card used at the point of transaction by working in concert with historical cardholder data and transaction frequency information, providing a superior risk analysis tool for every electronic transaction.
By utilizing existing magstripe cards in consumers’ wallets today, MagnePrint eliminates the need to re-issue cards, it is transparent to consumers and does not require changes to consumer behavior patterns.
A Complete Line of MagneSafe®
Card Reader/Authentication Devices
MAGENSA supports a complete line of MagneSafe card readers to provide
user authentication capabilities, end-to-end 3DES data encryption,
web authentication security, and data federation across multiple
institution domains. MagneSafe readers empower today’s consumers
with the freedom and confidence of secure and protected online
Internet experiences anytime, anywhere.
Combined, MAGNESA services and MagneSafe readers provide a
comprehensive security solution for fast-track PCI DSS and FFIEC
compliance, allowing Internet banking and e-Commerce websites to
provide secure, next-generation payment and financial transactions to
their customers that are fast, convenient, and trusted.
Portable and compact, the MagneSafe P55 card reader authenticator
provides unprecedented data security and identity theft prevention.
Small enough to fit in a pocket or travel bag, the MagneSafe P55 is
designed for secure Internet banking and e-Commerce transactions.
Using MagnePrint® card authentication technology, the MagneSafe P55
transforms any PC or laptop into a secure transaction device with end-
to-end data
encryption, and can be used for all online activity with any business
or financial institution – eliminating the need for the consumer to
carry more than one security token or device. The P55’s LED indicator
provides visual cues to the user that they are securely connected to
an authentic website.
A Secure Platform
MAGENSA’s core technology is security. “First and foremost, a secure
platform is paramount for processing card data in today’s world,”
says Mimi Hart, President and CEO of MAGENSA, LLC “but
you also need scalability to deliver the solutions that your
customers are looking for.”
“The secure token (magstripe card) is already in the consumers’
wallets today,” explains Hart, “so financial institutions and
retailers do not need to go through a massive re-issue or re-encoding
of cards to their customer portfolio. Consumer behavior does not
have to change to support this security technology – it is completely
transparent to the consumer.” There is no other solution today -
hardware or software based - that can deliver the level of security
in one processing platform that MAGENSA delivers.
The pace of identity theft and the technology to combat it begs the
question as to what the landscape of identity theft will look like
3-5 years down the road.
“The numbers for identity theft are staggering today and without a
solid, secure and scalable platform offering protection to consumers,
financial institutions and retailers,” says Hart, “the numbers will
continue to grow.”
For more information please contact:
Kathy Crumley
Business Development Manager,
MAGENSA, LLC
20725 South Annalee Avenue
Carson, CA 90746
1-877.MAGENSA
(877.624.3672)
www.magensa.net
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