…Payment Services Provider collaborates with MagTek to develop mobile Smart Phone and Tablet POS solutions…

New York, USA, & Bamberg, Germany – February 28, 2012 – Computop, a leading payment service provider (PSP), today announced a partnership with card solutions provider MagTek Inc. The partnership will enable merchants to implement a fully integrated multichannel solution for payments that includes: PoS, e-commerce, call centre and mobile payments. MagTek provides card readers, cheque readers/scanners, PIN Pads and MagnePrint® credential authentication technology for retail that will bring significant added value for retailers when combined with the Computop Paygate solution.

Under the partnership, both companies will work together to develop PoS terminals that are able to work securely worldwide, and enable merchants to offer Paygate services across their complete estate – both online and in store.

Ralf Gladis, CEO of Computop, said; “We are delighted to be working with MagTek and are looking forward to combining their PoS solutions with our Paygate 5.0 platform to make processing card payments a simpler and more secure process for retailers.

“Initially we will be developing products which could enable mobile smartphone and tablet POS solutions – so watch this space.”

Steve Poulston, managing director, MagTek, says, “This partnership will open up a whole host of benefits for Computop customers.  For instance, by integrating technologies, we could remove the burden of PCI DSS compliance for merchants, as they would not need to receive actual card data during a transaction.  All possibilities are being explored within the labs.”

Both companies plan to be ready to announce the first fruits of this collaboration in Spring 2012.