Electronic Payment Exchange, a provider of payment processing solutions, has announced that 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 are now expected to process credit card transactions completely outside of their technical infrastructure. As the card is swiped, the track data is encrypted and then transmitted to Electronic Payment Exchange (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, said EPX. EPX's BuyerWall already removes cardholder data from merchant databases. The addition of this new swipe technology connected with BuyerWall is expected to eliminate the potential for data compromise from the moment the card is swiped all the way through settlement, chargebacks and long-term historical reporting.EPX said that it offers BuyerWall to merchants across all distribution channels - point-of-sale, mail order/telephone order and internet.Ray Moyer, CEO of EPX, said: "Extending BuyerWall's data protection to the moment the card is swiped is a direct result of requests from merchants and banks. 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."
