Navigation Links
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, since their tokens can be reverse-engineered to reveal their corresponding card numbers,” explains Ornce. “EPX tokens provide ultimate security because they are not derived from card numbers, and therefore cannot be reverse-engineered into meaningful data.”

Ornce says that another key differentiator between EPX’s tokenization solution and those of competitors is that EPX tokenization technology is “built in, not bolted on” to its payment processing platform. EPX’s payment processing platform was built with tokenization as an inherent component, while other payment processors have modified their legacy systems by adding on tokenization modules.

In addition to using tokenization for protecting credit card data, EPX tokenization technology has also been securing electronic check (ACH) payments since 2001. Contrary to recent claims by competing payment processors who reported that they were the first to offer tokenization of ACH data, EPX stands alone as the first to apply tokenization technology to ACH payments.

EPX has been an innovator and active leader in the payment processing space since 1979, and its nearly 10 years of using tokenization to protect credit card and ACH payments is further evidence of EPX’s commitment to protecting merchants. According to EPX Executive Vice President Charles Crawford, “In the 31 years EPX has been in the payments business, we have made many breakthroughs by simply pursuing what is most effective, what is most efficient, and what serves our merchants best. We’ve never waited for others to lead the way, nor will we in the future.”

About Electronic Payment Exchange

Founded in 1979, Electronic Payment Exchange is the global, industry-leading provider of fully integrated, end-to-end payment solutions for merchants across all distribution channels. EPX offers a full range of payment processing services for leading merchants, retailers, etailers, and banks in the United States, Canada, Europe, Latin America, and the Caribbean.

EPX is a participating organization of the Payment Card Industry Security Standards Council. EPX is PCI v1.2 compliant, a VISA USA Cardholder Information Security Program (CISP) Compliant Service Provider, and a MasterCard Site Data Protection (SDP) Compliant Service Provider.

For more information about EPX, visit www.epx.com or contact EPX at 302.288.0600.

###

Read the full story at http://www.prweb.com/releases/2010/05/prweb4048984.htm.


'/>"/>
Source: PRWeb
Copyright©2010 Vocus, Inc.
All rights reserved  

Related medicine news :

1. MxSecure's Electronic Medical Record (EMR) Software, MxChart™, Now iPad Compatible
2. LaVie Administrative Services Continues 1,200 Access Point Aerohive Roll Out to Address Electronic Medical Record Requirements
3. 10 Million Cigarette Butts Prevented from Touching the Ground in Spokane County, Washington, Thanks to Smart Smoke Electronic Cigarette
4. ATMP and Secure-24 Offer Physicians Leadership and Guidance for Electronic Medical Records
5. Parents Want Electronic Access to Their Childrens Docs: Survey
6. Insightful Case Study Details How Electronic Payment Exchange Saved a Global Firm More Than $3 Million in PCI-Related Costs
7. Proximity Systems Announces First Large Sale of New LAN Based Electronic Lock Management System; Completion of Four Pilot Installations
8. New Electronic Medical Record (EMR) Software, MxChart™, Launched by Medical Transcription Service Provider, MxSecure
9. SDI Reports: Pharmaceutical Promotion Spending Indicates Trend Toward Electronic and Online Promotion
10. CareData Introduces Online Electronic Health Record Training Course for Allied Health Paraprofessionals
11. Orion Health Helps Northumbria Healthcare NHS Foundation Trust Deliver an Enhanced Electronic Patient Record
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
Electronic Payment Exchange Enters its Tenth Year of Issuing Tokens for Securing Credit Card and ACH Transaction Data
(Date:3/24/2017)... ... March 24, 2017 , ... ... (ONS) wanted to create a communications platform that positions them as the go-to ... and ONS reinvented their online publication as an always-on, always-fresh news, views and ...
(Date:3/24/2017)... ... March 24, 2017 , ... The law firm of ... is pleased to announce Westchester resident Lauren C. Enea has joined the firm as ... firm, will concentrate her practice in elder law, Medicaid planning and applications, and Wills, ...
(Date:3/24/2017)... ... March 24, 2017 , ... Empower Brokerage, ... their training and leads programs. , In February, 2017, Empower Brokerage introduced their ... Performance Partners is designed to teach how to maximize their sales efforts, as ...
(Date:3/24/2017)... ... 2017 , ... “End Time GPS”: a dauntless and enlightened study of ... GPS” is the creation of published author, Wesley Gerboth, a World War II veteran, ... space-vehicle projects. Now, at age ninety-one, he shares the Wisdom God bestowed upon him ...
(Date:3/24/2017)... ... March 24, 2017 , ... “The Adventures of Joey, The Dog ... dog who lives his life to the fullest, as God intended. “The Adventures of ... Holmgren, a mother and grandmother pursuing her passion for writing, especially about truth and ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)...   The Accreditation Council for Medical Affairs ... the pharmaceutical industry has appointed Dr. Jane ... formed scientific advisory board. Dr. Chin will be ... ever medical affairs think tank within the pharmaceutical ... ACMA, please visit  www.medicalaffairsspecialist.org .  Connect with ...
(Date:3/24/2017)... FinancialBuzz.com News Commentary  ... According to new data published Arcview ... legal cannabis market is projected to continue to grow at ... the current presidential administration. The report created by Arcview,s data ... growth in this industry are the passage and subsequent implementation ...
(Date:3/24/2017)... -- Research and Markets has announced the addition of the ... their offering. ... pipeline is very strong with a total of 97 drug candidates. Pharma ... Sanofi are involved in the development of the IPF therapeutics. The IPF ... III stage, 15 are in Phase II stage, 12 are in Phase ...
Breaking Medicine Technology: