SEAL BEACH, Calif. (PRWEB) January 12, 2023
MagTek, a leading world supplier of secure payment technology, and Xpress-pay, a Software-as-a-Service digital bill payment solution provider who has processed billions of dollars in consumer payments and donations, announce the collaboration with MagTek’s tDynamo, a secure card reader authenticator, and Xpress-pay’s cloud-based ePayment service. This mobile, handheld solution is built to meet the needs of in-person payments for organizations in the retail, restaurant, hospitality, and service sectors.
Many organizations are seeing margins shrink to near record low levels as inflation and supply chain issues continue to strain the marketplace. Paying merchant fees and interchange rates on credit card transactions reduces profits further. Organizations in every sector must keep their bottom line in the black. If businesses counteract this by increasing costs and charging too much, consumers are quick to go elsewhere or forego the purchase opportunity entirely. Merchants must be mindful of the consumer experience.
Select businesses, like insurance companies, are required to meet compliance measures where the fees for services and transaction fees must not be comingled. The retail industry is unique in that they are allowed to pass fees onto the consumer. Having a payment solution that addresses either scenario can be critical to success.
Xpress-pay makes it possible to separate the transaction fees from the original amount due. In doing so, transaction costs can be responsibly recovered. Companies are enabled to determine the portion of the transaction fee they will pass onto the consumer based on their needs, industry requirements, and consumer tolerance.
By integrating the MagTek tDynamo with the Xpress-pay payment application, merchants and consumers are both able to benefit from lower card-present interchange costs associated with in-person transactions. By adding MagTek’s L3 certified solutions using the Magensa Payment Protection Gateway, a PCI certified gateway and Visa Global Registry Service Provider, Xpress-pay continues acting as a processor-agnostic provider, securing the transaction with point-to-point encryption, and enhancing the customer experience.
“We have been running digital transactions for over seventeen years,” says Thomas Buttino, Director of Marketing for Xpress-pay. “While formerly offering desktop and mobile payments, the tDynamo now allows our clients to accept payments from anywhere the Internet is available. With this convenient handheld device, customers can also pay with the mobile device via NFC, bringing Google Pay, Apple Pay, and Samsung Pay into play as well.”
Businesses across the marketplace need a device that is reliable and rugged. The tDynamo delivers a compact handheld design (or optional countertop stand) that connects to Android, iOS, and Windows devices via Bluetooth LE or via USB to Windows PCs. When coupled with Magensa, clients get the best in durability and security with instant encryption, tokenization, and authentication.
“We are excited to partner with Xpress-pay,” says Andy Deignan, Global Vice President of Marketing and Strategy at MagTek. “They have an outstanding reputation as a market leader in the payment industry. Being able to provide a payment reading device that is built with the MagneSafe Security Architecture is a great opportunity for us to showcase how secure and convenient mobile payment transactions can be.”
To learn more about MagTek’s tDynamo and Magensa Gateway Services, please visit http://www.magtek.com, call (562) 546-6400, or visit us at NRF, Jacob K. Javits Center, New York City, NY, Booth #4467, January 15 – 17, 2023. For more information about Xpress-pay and their site fee cash discount program visit https://info.Xpress-pay.com/for-businesses/tdynamo or call (607) 753‑6156.
Celebrating 50 years! Founded in 1972, MagTek is a leading manufacturer of electronic systems for the reliable issuance, reading, transmission, and security of cards, barcodes, checks, PINs, and identification documents. Leading with innovation and engineering excellence, MagTek is known for quality and dependability. Its products include secure card reader/authenticators, Qwantum secure cards, token generators, EMV contact, contactless, barcode and NFC reading devices, encrypting check scanners, PIN pads, and distributed credential personalization systems for secure magstripe and EMV enabled cards. These products are used worldwide by financial institutions, retailers, payment processors, and ISVs to provide secure and efficient data privacy, as well as payment and identification transactions.
Today, MagTek continues to innovate. Its MagneSafe® Security Architecture leverages strong encryption, secure tokenization, dynamic card authentication, and device/host validation enabling users to assess the trustworthiness of credentials and terminals used for online identification, payment processing, and high-value electronic transactions.
MagTek is headquartered in Seal Beach, CA.
About Systems East, Inc. and Xpress-pay
Systems East, Inc.'s corporate headquarters are located in the Finger Lakes region of Central New York State. Additional offices are maintained in Daytona Beach, Florida.
Since 1981, Systems East has been developing and delivering superior software solutions to thousands of organizations across the United States, Canada, and the U.S. Virgin Islands.
Xpress-pay was initially released in 2005 to assist organizations of all kinds in taking control of their online billing and payment needs. Xpress-pay now serves over sixty sectors in business, government, and non-profit delivering a flexible and secure payment experience across the nation while lowering or even eliminating merchant costs. Its national reseller network includes financial and lending institutions including Tier One banks, merchant service providers and ISOs/agents, vertical solution providers, and web developers.