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Electronic Payment Exchange Enters its Tenth Year of Issuing Tokens for Securing Credit Card and ACH Transaction Data
Date:5/26/2010

Electronic Payment Exchange (EPX), a full-service payment processing organization, has entered is tenth year of issuing tokens as a means of securing credit card and ACH transaction data.

Wilmington, DE (Vocus) May 26, 2010 -- Electronic Payment Exchange (EPX), a full-service payment processing organization, has entered is tenth year of issuing tokens as a means of securing credit card and ACH transaction data.

In early 2001, EPX engineered and deployed the payment industry’s first tokenization technology, which has protected hundreds of millions of financial transactions and helped merchants eliminate the liabilities associated with storing unprotected payment data. EPX's proprietary tokenization technology replaces the sensitive payment information with unique IDs, which the payments industry has since come to call “tokens.”

For each transaction processed by EPX, patent-pending EPX BuyerWall™ technology issues a BRIC (BuyerWall Recognized Identification Code) token to the merchant, which is meaningless to would-be thieves. The BRIC allows the merchant to maintain total control of the customer experience and realize all of the capabilities that previously required the storage of cardholder data including refunds, recurring transactions, and historical review.

“As an innovator of tokenization in the payment processing space, we have been helping merchants effectively secure their payment data for nearly a decade,” said EPX Chief Security Officer Matt Ornce. “The industry has recently seen a rash of new entrants to the tokenization space. I applaud their efforts to catch up to our tokenization technology. However, I would caution merchants against using unproven solutions.”

“All tokens are not the same. Some tokenization solutions that have recently come to market don’t provide optimal security, s
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Source: PRWeb
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Electronic Payment Exchange Enters its Tenth Year of Issuing Tokens for Securing Credit Card and ACH Transaction Data
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