Toronto, Canada (Vocus/PRWEB) 22 March 2011
Canadian merchants must upgrade their existing Point of Sale (POS) systems to be able to handle EMV Chip and PIN card transactions before the liability shift date of March 31st 2011. This deadline is now a matter of days and YESpay’s integrated EMV certified payment solution is helping merchants upgrade their POS to accept EMV Chip & PIN and to be compliant by this time!
Canada is part of a global trend towards a new payment platform. EMV (Europay MasterCard Visa) is a set of international standards applicable to chip card payments ensuring worldwide payment compatibility and providing enhanced security. A mandate was passed whereby merchants are required to upgrade their POS terminals to accept EMV cards by March 31st 2011. Failure to meet this timescale will result in a shift of liability for card fraud to merchants who have NOT yet installed chip-capable terminals and upgraded their POS to support EMV. This can obviously translate into high fraud-related costs such as chargebacks. And fraudsters will focus on those merchants who are not yet EMV compliant.
The only way merchants can beat this EMV deadline and reduce fraud, is by using YESpay’s unique outsourced EMBOSS payment solution, fully PCI-DSS certified and EMV accredited. Indeed, because EMBOSS service is fully pre-certified with various card acquirers, and because the integration of YESpay payment software with POS software is completed in a matter of weeks, it is the quickest route to market to meet merchants’ requirements seamlessly.
Integration takes less than 4 weeks, and POS vendors use YESpay’s free toolkit and support to perform this comprehensive yet simple integration. YESpay’s EMBOSS payment solution relieves merchants from deploying and maintaining an expensive in-house payment solution as well as undergoing formal lengthy end-to-end EMV bank testing and managing PCI-DSS compliance. Outsourcing payment processing to YESpay considerably cuts the costs associated with bank accreditation and PCI-DSS compliance. Moreover, by using YESpay’s solution, merchants only have to pay a low monthly fee while there is no major upfront capital expenditure. And the service includes online real-time reporting portal, tokenization, payment service etc.
As Deepak Mehta, National Support Manager at YESpay explains, “YESpay is helping merchants beat the liability shift deadline enabling them to seamlessly accept integrated EMV card payments. The integration is simple and takes a couple of weeks. YESpay’s solution is the quickest and simplest way to migrate to integrated EMV! With YESpay, merchants spend less time worrying about EMV Chip and PIN migration and spend more time growing their business.”
About YESpay International Limited:
YESpay International Ltd., 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 First Data Merchant Service (FDMS), Chase Paymentech, 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:
Canadian Office: 133 Richmond Street West, Suite 406, Toronto, M5H2L3, Ontario, CANADA
Phone: +1 - 416 - 214 - 6012
UK Headquarters: Checknet House, 153 East Barnet Road, EN48QZ, Barnet, UK
Phone: +44 - 203 - 006 - 3790
PR Contact: Sophia Dahri, Marketing and Sales Manager
Phone: +1-416-214-6012 ext. 505