YESpay is not the only company offering EMV card acceptance in the U.S. Wal-Mart is planning to install chip & PIN payment terminals which will definitely trigger other merchants to move to chip-and-PIN card processing.
Toronto, Canada (PRWeb UK) June 2, 2010
YESpay International Ltd, a global card payments services company, has completed the EMV chip and PIN end-to-end certification of its EMBOSS card payment service with Chase Paymentech and First Data, two major card acquirers in the USA and Canada. YESpay is now working with merchants in the USA and Canada who need to upgrade their retail POS systems to EMV chip-and-PIN card payment standards: Merchants can thus process EMV Chip & PIN cards that are being globally issued including in Canada and Mexico within USA thus stopping cross-border card fraud to migrate from Canada and Mexico to USA.
Dr Chandra Patni, CEO of YESpay International said, “We are not the only company thinking along the lines of offering EMV card acceptance in the U.S.: According to an industry article published recently (Wal-Mart to support smartcard payments, Computerworld, 21 May 2010), the retail giant Wal-Mart is reportedly planning to make all its payment terminals in its U.S. stores chip-and-PIN-capable. Such a move would definitely trigger other U.S. merchants to move to chip-and-PIN transaction processing.”
It has also been recently reported that the United Nations Federal Credit Union has plans to start issuing EMV compliant credit cards to its customers very soon, hence ensuring the commencement of EMV card issuance in USA to assist with rapid adoption.
Europe and other regions including Canada and Mexico are successfully migrating to the EMV chip-and-PIN card technology but the U.S. has not yet decided, largely because of the cost concerns. However, all the latest developments lead to the fact that the U.S. industry is moving in this direction.
It is true that the imminent EMV chip-and-PIN card rollout in the USA will certainly reveal a challenge for merchants that will have to upgrade their integrated EPOS point of sale systems to accept payments with EMV chip-and-PIN cards which YESpay can provide help in.
The YESpay EMBOSS managed credit / debit card payment service overcomes the cost and timescale challenges and provides an innovative and low cost solution that helps merchants integrate online card payments with their existing retail infrastructures while providing a simplified migration path to EMV compliance for credit and debit card acceptance.
YESpay already has a track record of providing its highly secure and scalable EMV Chip & PIN, contactless and magnetic credit / debit card, e-commerce and gift card payment processing services to independent and multi-chain merchants in Europe and Canada. In addition, with the requirements for enhanced cardholder’s data security, EMBOSS has been fully end-to-end certified to Payment Card Industry Data Security Standards (PCI DSS) Level 1 as mandated by the payment brands since 2006.
Through EMBOSS, merchants can fast track the implementation of integrated EMV card payments acceptance solutions for in-store and unattended payment systems, as well as enhance their websites for on-line payments with minimal capital investment and low on-going services costs. It reduces business and technical issues of outsourcing payment services and helps merchants avoid lengthy timescales and high costs of EMV certification and PCI compliance of their retail environments. Fully scalable, EMBOSS can address the needs the single location merchant as well as larger chains.
Rohit Patni, EVP Sales & Marketing in YESpay International said, “This is a very exciting period for the industry, and indeed a tremendous opportunity for YESpay to serve its North American customers with the same impeccable service we have been offering to our European customers for the last five years. YESpay has the solution to EMV migration and is absolutely ready to face the challenge. ’’
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, Tel: +1 416 214 6012,