MagTek
MagTek designs and manufactures secure payment card readers, OEM reader modules, and check scanners, paired with its Magensa cloud payment gateway for tokenization, encryption, and transaction routing, serving retailers, restaurants, banks, healthcare, transportation, hospitality, airlines, and OEMs across 40+ countries.
- Company typePrivate
- Founded1972
- HeadquartersSeal Beach, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What MagTek does
MagTek, Inc. is a privately held US secure payment technology company founded in 1972 and headquartered in Seal Beach, California. It designs and manufactures secure card reader authenticators (SCAs), OEM reader modules, check scanners, and card personalization devices — branded across the DynaFlex, iDynamo, tDynamo, eDynamo, oDynamo, mDynamo, and DynaPro/DynaProx families — combined with the Magensa Payment Protection Gateway (MPPG), an EMV L3-certified cloud gateway providing decryption, tokenization, and transaction routing. Underpinning the portfolio is the MagneSafe security architecture, which layers AES-256/CMAC encryption, DUKPT key management, MagnePrint counterfeit detection, and remote key injection (RKI), alongside the Qwantum platform for quantum-resistant encryption, multi-factor authentication (QMFA), and private messaging.
The company monetizes through one-time hardware sales (built-to-order from its US manufacturing facility, including key injection, quality, and final assembly), recurring subscription/transaction fees on Magensa cloud services and the QwickPAY mobile POS app, and OEM licensing of reader modules into third-party POS terminals, kiosks, ATMs, vending machines, and unattended environments. Go-to-market spans direct enterprise sales, a VIP channel program for ISOs/ISVs/VARs with free SDKs and developer support, OEM partnerships, and self-serve via the QwickPAY iOS/Android apps. MagTek serves eight named verticals — Retail & E-commerce, Restaurant & Food Service, Banking & Financial, Healthcare, Transportation, Hospitality, Airline, and OEM — and cites $11B in annual payment volume processed and 405M+ transactions protected per year across 40+ countries. The company holds a deep compliance stack (PCI DSS Level 1, PCI PTS 6.x PED, EMV L1/L2/L3, ISO 9001-2015, MasterCard TQM, Visa PIN Security) and is led by Andrew Deignan (President, CEO, and Chairman since June 2023), with John Arato appointed CSO in May 2025 to drive the next commercial phase.
MagTek firmographics
Firmographics- Name
- MagTek
- Legal name
- MagTek, Inc.
- Website
- https://magtek.com
- Company type
- Private
- Founded year
- 1972
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- MagTek designs and manufactures secure payment card readers, OEM reader modules, and check scanners, paired with its Magensa cloud payment gateway for tokenization, encryption, and transaction routing, serving retailers, restaurants, banks, healthcare, transportation, hospitality, airlines, and OEMs across 40+ countries.
- Ownership category
- akta.pro rank
MagTek industry classification
Industry- Product category
- Payment Hardware and Security
- NAICS
- Security Systems Services (except Locksmiths) (561621), Computer and Peripheral Equipment Manufacturing (3341)
- SIC
- Wholesale-Computers & Peripheral Equipment & Software (5045)
- akta.pro primary industry
- EMV Chip, Magstripe & PIN Debit Acceptance (FSAMADAG)
- akta.pro secondary industries
- Tokenization, Network Vaults & Credential Management (FSAGABAF), Payment PIN Pads, Card Readers & NFC Contactless Devices (HDACAKAG), Payments Fraud & Chargeback Prevention (HDADALAE)
Keywords
Where MagTek is headquartered
LocationHeadquarters
- HQ city
- Seal Beach
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
MagTek business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Hardware Sales: Sale of secure payment card readers, check scanners, PIN pads, and OEM components. Products include DynaFlex family, iDynamo, tDynamo, eDynamo, and related peripherals.
- Cloud Services (Magensa): Magensa subsidiary provides cloud-based security services including the Magensa Payment Protection Gateway, tokenization, decryption, and secure transaction processing. Subscription-based gateway services with processing fees.
- QwickPAY Application: Mobile POS application available through app stores with merchant processing services. Revenue from transaction processing and merchant services.
- Qwantum Security Services: Quantum-resistant encryption and multi-factor authentication services including Qwantum Private Messaging and Qwantum MFA for identity verification.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Quote-based hardware pricing through sales and channel partners |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels7 records
MagTek product offering
Product offeringCore offering
MagTek designs and manufactures secure electronic transaction hardware (magnetic stripe and EMV card readers, check scanners, and card personalization devices) and operates Magensa, a cloud-based payment gateway that delivers tokenization, encryption, decryption, and transaction routing services. Its products and services are sold to merchants, financial institutions, ISVs/VARs, and OEMs to enable PCI-compliant card-present and mobile payments.
Product overview
MagTek is a secure payment technology company offering a comprehensive portfolio of hardware devices, cloud services, and security platforms. The core offering centers on the Magensa Payment Protection Gateway (MPPG) - an L3 certified payment gateway - combined with a diverse range of secure card readers including the DynaFlex family (DynaFlex II Go, DynaFlex II PED, DynaFlex II SCR), iDynamo series (iDynamo 5 Gen II/III, iDynamo 6), tDynamo, eDynamo, oDynamo, mDynamo, and DynaPro/DynaProx products. Supporting the hardware are cloud services including Magensa Decrypt and Forward, Magensa TokenExchange, Reader Management System, and Remote Key Injection. The Qwantum Security Platform provides quantum-resistant encryption with AES-256/CMAC, DUKPT key management, and multi-factor authentication (Qwantum MFA, Qwantum Private Messaging, Qwantum ASIC). The QwickPAY mobile POS application enables phones/tablets as payment terminals. Additional products include QwickSign (eSignature with payments), QwickCodes (tokenization for cardless transactions), and QwickDip (fast EMV technology). MagTek also offers check scanners (MICRSafe, ImageSafe, Excella STX) and card personalization devices (ExpressCard 3000, IntelliStripe 380) for instant card issuance. The ecosystem is unified through MagneSafe Security Architecture providing encryption, tokenization, and MagnePrint counterfeit card detection across all products.
Differentiator
Problem solved
Functional benefit
Brands
- MagneSafe: Security architecture leveraging strong encryption, secure tokenization, dynamic card authentication, and device/host validation for online identification and payment processing.
- Qwantum
- QwickPAY
- MagnePrint
- Magensa Payment Protection Gateway
- MagneFlex
- QwickCodes
- QwickSign
Quantifiable outcome
- 99.9% uptime on payment gateway
- +3 more outcomes
Companies that use MagTek
Customer profileNamed customers9 records
Segments8 records
Ideal customer profiles4 records
MagTek technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration29 records
AI capability2 records
Feature10 records
MagTek partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core and minor.
- CutflowcoreStrategic integration combining MagTek's portable payment devices and Magensa Payment Protection Gateway with the Cutflow all-in-one commerce platform. Enables merchants to accept payments and manage operations using Android or iOS smartphones, tablets, kiosks, and other connected devices for kiosk, pay-at-the-table, and mobile business solutions.
- cleverQcoreIntegration of MagTek's Qwantum Multifactor Authentication (QMFA) with cleverQ's digital check-in and service routing platform. Enables secure, frictionless customer journeys from authentication through payment to service delivery targeting healthcare, government, banking, and retail environments.
- InVuecoreIntegration of MagTek DynaFlex II Go into InVue's Portable Payment Center for secure, portable payment acceptance in retail environments.
- GrabScanGocoreIntegration of zero-provisioning technology into GrabScanGo's self-checkout platform using the Magensa Payment Protection Gateway. Platform enables multiple simultaneous checkout methods including MagTek DynaFlex terminals, Apple App Clip instant checkout, and full mobile app checkout.
- EverWash (CryptoPay)coreMagensa Payment Protection Gateway now processing EverWash's coinless app card-not-present transactions with CryptoPay for carwashes.
- VAULT (Pioneer Square Brands subsidiary)coreIntegration of MagTek's DynaFlex II Go into VAULT's GoWork Pro mobile POS solution, combining advanced transaction technology with a protective charging case. Supports traditional payment methods, NFC mobile wallets, barcode scanning, and authentication functions.
- PAAYcorePartnership for Magensa Cloud Services debut of robust eCommerce solution. PAAY provides authentication services integrated with Magensa payment gateway.
- nCLOSEminorCustom cabling and mPOS solutions integrating MagTek DynaFlex II Go with nCLOSE enclosures.
- HandeholderminorInnovative mobility solutions for MagTek payment and access peripherals, providing protective and functional mobile device accessories.
- ExpiTransminorNew reseller of MagTek's QwickPAY point-of-sale payment application, expanding distribution reach.
- DishOutcorePartnership for accessing the Magensa Payment Protection Gateway with DishOut certification of PAX terminals. Provides mobile payment solution for ISOs and ISVs.
- AssureSigncoreCollaboration to build Magensa Payment Protection Gateway into AssureSign's eSignature service, creating QwickSign product that combines legally binding contracts and payments in a single digital transaction.
- Genesys Technologies (CryptoPay)corePartnership securing payments for self-service car wash and laundromat industry. Magensa Payment Protection Gateway processes over 1 million transactions per month for CryptoPay.
- BridgePay Network SolutionscoreTechnology partnership through PayGuardian and MobileLINK payment application. Merchants gain access to fully brandable mobile payment solution for mobile EMV chip and magstripe payments utilizing MagTek's eDynamo and BridgePay's gateway.
- RevSpringcoreIntegration of MagTek's DynaPro EMV, DynaPad Encrypting Keypad and Magensa Secure Transaction Services with RevSpring's emerge payment platform for healthcare provider payments. Full P2PE solution for point of sale and phone transactions.
- Payment Alliance International (PAI)coreDeployment of QwickCodes tokenization solution across PAI's nationwide network of over 74,000 ATMs. Enables secure cardless ATM and mobile payment transactions.
Scale indicators6 records
Recent moves6 records
Expansion highlights7 records
MagTek competitors and assessment
Company assessmentDirect peers
- PAX Global Technology: PAX designs and manufactures POS terminals that compete with MagTek's DynaFlex line across retail, hospitality and unattended. The recently announced DishOut/PAX partnership with Magensa also indicates PAX is both competitor and adjacent channel.
- Verifone: Verifone is the global market leader in payment terminals and PIN pads across retail, hospitality, and unattended. It is the most direct competitor to MagTek's DynaFlex and Dynamag families, competing head-to-head on PCI PTS and EMV certifications and partner integrations.
- Castles Technology: Castles is an Asian-based POS terminal and PIN pad manufacturer with a strong unattended and EMV product line. Its hardware directly competes with MagTek's OEM modules and DynaPro/Prox families in unattended retail and vending verticals.
- BBPOS: BBPOS builds mobile mPOS readers (chip, swipe, NFC) that overlap directly with MagTek's iDynamo, tDynamo and DynaFlex II Go. It was acquired by Stripe to anchor Stripe Terminal, making it both a direct competitor and a meaningful comparator for mobile payment acceptance.
- ID Tech: ID Tech is a direct competitor in EMV card readers, mobile readers, and unattended payment devices. Its product line and OEM integrations overlap closely with MagTek's iDynamo, tDynamo and OEM module families.
- Ingenico (Worldline): Ingenico (now part of Worldline) is a long-established payment terminal vendor offering EMV, NFC and PIN pad readers plus gateway services. It mirrors MagTek's combined hardware-and-gateway model and competes globally in the same retail and banking verticals.
- Equinox Payments: Equinox Payments builds EMV-certified countertop, mobile and unattended payment terminals for the US acquiring and ISO market. It serves as a direct US peer to MagTek in the same retail and ISV sales channels.
- Block (Square): Block/Square designs and ships BBPOS-originated and proprietary mobile card readers and the Square Register, competing with MagTek's mobile readers and QwickPAY mobile POS application in the same SMB merchant segment.
Emerging players
- Stripe Terminal: Stripe Terminal is a software-driven payment-acceptance platform (built on BBPOS hardware). It overlaps with MagTek's Magensa gateway and QwickPAY application in merchant payment orchestration, even though MagTek is also an ecosystem participant via certification.
Broad incumbents
- Clover (Fiserv): Clover, owned by Fiserv, is an all-in-one POS hardware and software suite for SMBs. Its hardware line overlaps with MagTek readers and its gateway competes with Magensa Payment Protection Gateway within the same merchant accounts.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
MagTek social profiles
Digital presenceMagTek compliance and trust
Trust signalCompliance11 records
MagTek financial estimates
Financial estimateRevenue estimate
Valuation estimate
MagTek leadership team
Management profileNumber of profiles
Profiles6 records
MagTek subsidiaries and ownership
Company hierarchySubsidiaries2 records
MagTek funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MagTek M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MagTek
What does MagTek do?
MagTek designs and manufactures secure electronic transaction hardware (magnetic stripe and EMV card readers, check scanners, and card personalization devices) and operates Magensa, a cloud-based payment gateway that delivers tokenization, encryption, decryption, and transaction routing services. Its products and services are sold to merchants, financial institutions, ISVs/VARs, and OEMs to enable PCI-compliant card-present and mobile payments.
Is MagTek a public or private company?
MagTek is a private company. It is classified as unknown and is currently operating.
When was MagTek founded?
MagTek was founded in 1972. It employs 101 to 250 people.
Where is MagTek based?
MagTek is headquartered in Seal Beach, United States, in the North America region.
How does MagTek make money?
Four revenue lines are on record. Hardware Sales are the primary driver. The others are cloud Services (Magensa), qwickPAY Application and qwantum Security Services.
Who are MagTek's main competitors?
Direct peers on record are PAX Global Technology, Verifone, Castles Technology, BBPOS, ID Tech, Ingenico (Worldline), Equinox Payments and Block (Square). Stripe Terminal is listed as an emerging player. Clover (Fiserv) is listed as a broad incumbent.
Does MagTek have an API?
Yes. MagTek provides free SDKs (Software Development Kits) and APIs across multiple platforms for developers to integrate MagTek hardware and Magensa cloud services. SDKs are available for iOS, Android, Windows, and other operating systems. The VIP (Vendor Integration Partner) program offers free SDKs with no license agreement fees. Key APIs include the Magensa Payment Protection Gateway (MPPG) for payment processing, Decrypt and Forward service, TokenExchange for tokenization, Reader Management API, Qwantum Web API for PIN services, and QwickDip technology for faster EMV transactions. Documentation and sandbox tools are available through MagneFlex Browser which provides instant access to SDKs and APIs. The company also offers sample code and developer tools. Developer documentation is at www.magtek.com/support.
What industry is MagTek in?
MagTek's product category is Payment Hardware and Security. Its primary akta.pro industry code is FSAMADAG, EMV Chip, Magstripe & PIN Debit Acceptance, with a secondary code of FSAGABAF, Tokenization, Network Vaults & Credential Management. Its NAICS code is 561621 and its SIC code is 5045.