SECURE ELECTRONIC TRANSACTION

Computing systems, methods and tools for performing a secure electronic transaction between buyer and merchant. The transaction being able to be implemented without either party having to transmit confidential information between the parties of the transaction. The secure electronic transaction is mediated by a transaction system operating as part of a remotely accessible network or cloud computing environment. The buyer and the merchant register identifying information, payment information, shipping/billing information along with other confidential information to be stored by the transaction system prior to commencing the transaction. The buyer and merchant use assigned ID numbers or truncated versions thereof when transmitting transactional data and transactional approvals through the transaction system. Upon approval of the transactional terms by the buyer, the transaction system communicates operates to secure the transfer of funds from the buyer to the merchant without ever receiving, storing or being responsible for the security of confidential information.