Electronic Payment Exchange (EPX), a global industry-leading provider of fully integrated, secure, end-to-end payment processing solutions, has announced today it has enhanced its patent pending BuyerWall Solution to now provide complete removal of cardholder liability for merchant payment processing at the point of card swipe in a retail environment by instantly securing data.
Using BuyerWall's enhanced retail solution, retail merchants can now process credit card transactions completely outside of their technical infrastructure. As the card is swiped, the track data is encrypted and then securely transmitted to EPX ensuring the merchant's system never handles any exploitable cardholder data, eliminating the possibility of both external and internal fraud right at the point of swipe, including the type of thievery highlighted by the Hannaford Brothers Supermarket's data breach. EPX's BuyerWall already removes cardholder data from merchant databases. The addition of this new swipe technology connected with BuyerWall eliminates the potential for data compromise from the moment the card is swiped all the way through settlement, chargebacks and long term historical reporting.
BuyerWall is the patent-pending cardholder data protection system offered exclusively by EPX that allows merchants to eliminate data breach liability, yet maintain complete control of the customer experience. BuyerWall processes, transmits, and stores sensitive cardholder data, freeing the merchant from the associated risks, and drastically reducing the time and expense associated with achieving Payment Card Industry Data Security Standards compliance (PCI DSS).
As a complete end-to-end processor providing both front end and back end processing, EPX offers BuyerWall to merchants across all distribution channels -point-of-sale (POS), mail order/telephone order (MOTO) and Internet. With BuyerWall, all merchant liability associated with the risk of processing, transmitting, and storing sensitive cardholder data is eliminated. The sensitive data never enters the merchant's system, and therefore can never be stored by the merchant. BuyerWall puts a secure barrier between cardholder data and the merchant by separating the card number from the sales information, and processing the transaction independently of the merchant or other vendors. The technology works for credit, debit and check payments.
"Extending BuyerWall's data protection to the moment the card is swiped is a direct result of requests from merchants and banks," said Ray Moyer, Chief Executive Officer of EPX. "Merchants have told us they want to fully eliminate their liability associated with potential data breaches and reduce the overhead burden of PCI DSS compliance. We have found that the best approach for merchants is to reduce what is considered 'in scope' for PCI DSS by removing sensitive cardholder data from their processes and systems. If we can ensure that no cardholder data ever enters the merchant's systems to begin with, we can dramatically reduce the time, cost and effort for them to achieve PCI DSS compliance-by simply processing their payments using BuyerWall."