The global payments industry as going through significant rapid evolution; mobile payment methods will be devised based around a combination of the following three technological components: Mobile Wallets, 3-D Secure and NFC Phones.
London, UK and Toronto, ON (PRWeb UK) February 9, 2011
YESpay International aims to focus on increasing its presence in mobile payments, online commerce and virtual card services. With live payment services operations in UK, Ireland, other parts of the EU as well as USA and Canada, the strategy described by Dr Chandra Patni, YESpay CEO, aims to go multi-channel for its merchants, by launching mobile payments products such as YESpay-Wallet s™ and YESpay-V-Cards™ card payment programs, allowing customers to pay for web, mobile and in-store purchases with select smartphones.
Dr. Patni described the global payments industry as going through significant rapid evolution ranging from cloud computing, point-to-point encryption, PA-DSS (Payment Application Data Security Standard), EMV (Visa & MasterCard standard) Chip & PIN, contactless payments, Internet and mobile payments, and of course NFC (near field communication) payments. He said, “The jury is out on some of its initiatives such as mobile payments via NFC and issues such as the best way to achieve fraud mitigation for Internet payments.” Over the next several years, mobile payment methods will be devised based around a combination of the following three technological components: Mobile Wallets, 3-D Secure and NFC Phones. The YESpay mobile payments strategy is based centrally on these three axes.
YESpay-V-Cards™ pre-paid accounts will be used as novel payment methods for mobile and fixed Internet goods and services. These virtual cards stored on the mobile YESpay-WalletsTM will work like cash and will be used for small and large payments, as often as the user wants. The “top-up” or recharging can be conducted at retailer stores using cash or credit card, through bank accounts and on the mobile via credit/debit cards. The youth market, particularly teenagers, who do not have credit cards, will have much to gain. “Customers can create their individual YESpay-Wallet™ in which they can add details of their credit and debit cards as well as create virtual cards called YESpay-V-CardsTM – they can then make card payments at YESpay web merchants or by using the YESpay-Wallet™ Mobile App in-store. This will extend customer experience at potentially all our merchant locations,” said Tasneem Bunglowala, YESpay Mobile App Product Manager.
YESpay regularly processes millions of cardholder payments for its merchants and predicts mobile payment will attract customers and merchants alike looking to experience the speed, ease and convenience of paying with their mobile phone.
EPOS solutions providers, Mobile App and web developers can contact YESpay International Limited via sales(at)yes-pay(dot)com or 0871 221 9510 to request integration guides and obtain more information about the YESpay mobile payments strategy.
About YESpay International Limited:
YESpay, a global card payments service company, provides highly secure Internet, EMV Chip & PIN, contactless and gift card payment processing services to independent and multi-chain merchants. Through EMBOSS™, the YESpay Managed Payment Service, merchants can quickly accept integrated card payments within EPOS, kiosks, hospitality and e-commerce systems with minimal capital investment and low on-going services costs. EMBOSS is an on-line IP-based payment processing service that has been generically pre-accredited by major Card Acquirers in Europe and North America (including Chase Paymentech, First Data Merchant Service (FDMS), Barclaycard Business, HSBC, HBOS, Lloyds Cardnet, Streamline, Ulster Bank, Elavon, PBS, Amex and Diners). In addition, the YESpay EMBOSS service is fully end to end certified to Payment Card Industry Data Security Standards (PCI DSS) Level 1 as mandated by Visa and MasterCard. The YESpay EasyV-Suite of card payment products is innovative and cost-effective for EPOS, Kiosk, Hospitality, Mobile and Internet environments. With the YESpay EMBOSS card payment service, merchants can perform card payments in both card-present and card-not-present environments.
YESpay International Ltd Offices:
UK Headquarters: Checknet House, 153 East Barnet Road, Barnet, EN48QZ, UK
133 Richmond Street West, Suite 406, Toronto, ONTARIO, M5H2L3 CANADA
UK/Europe Telephone: +44 – 203 – 006 – 3790
USA/Canada Telephone: +1 – 416 – 214 - 6012
PR Contact: Antonia Mitsana, Marketing Manager, +44-203-006-3790 ext. 227
YESpay-Wallet™ and related marks are trademarks of YESpay International Limited.
The BlackBerry and RIM families of related marks are the exclusive properties and trademarks of Research In Motion Limited.
Apple, iPhone and iPod touch are trademarks of Apple Inc., registered in the U.S. and other countries.
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