Electronic Payment Exchange Launches BuyerWall

BuyerWall puts a wall between cardholder data and the merchant. This patent-pending solution is based on the principal that if a merchant never has the credit card numbers, it is in no danger of exposing the data if it is compromised. BuyerWall processes, transmits and stores cardholder data ensuring it never enters the merchant’s system.In a traditional credit card transaction, the customer’s sensitive credit card data is exposed in transmission and processing numerous times. That same data is also replicated and stored in multiple locations throughout the payment process. These points of passage and storage create multiple opportunities for thieves to strike.BuyerWall is different thanks to EPX’s straight-through payment processing capability, eliminating many of the hand-offs and redundant storage points of the typical credit card transaction. BuyerWall provides and hosts the necessary front end applications that remove the merchant from the processing and transmission of any sensitive card holder data. BuyerWall alleviates a merchant’s need to store cardholder data, as it issues a BuyerWall Recognized Identification Code (BRIC) to the merchant in place of the data. By itself, the BRIC holds no value; however, it allows the merchant to realize all of the capabilities that previously required the storage of cardholder data without ever having to touch the data. This includes refunds, recurring or return transactions, and historical review.BuyerWall does not affect the merchant’s customer experience. Online, over the phone, or in-store, using American Express, Discover, JCB, MasterCard or Visa, the buyer simply purchases items as they always have.BuyerWall is being introduced at a time when merchants are increasingly wary of storing cardholder data. According to a statement issued by the National Retail Federation in early October: