Chase Paymentech, a subsidiary of JPMorgan Chase and a global leader in payment processing and merchant acquiring, is working with YESpay, a global payment services company, to provide its managed EMBOSS card payment services in Canada to support the introduction of pre-accredited EMV payment services into the local market.
With YESpay's managed EMBOSS card payment services, retailers will have access to fully accredited integrated EMV Chip and PIN payment services, removing the burden of having to manage their own formal testing, hence reducing their time to market to a matter of weeks.
Chase Paymentech will assist YESpay to provide its secure payment services for retail, MOTO (mail order telephone ordering) and e-commerce credit and debit card (with Online PIN validation in card present environments) to mainstream or web retailers - all at a low cost. YESpay will initially target mid-tier retailers with integrated EPOS retail systems.
EMBOSS is an Online, IP-based payment processing service that has also been preaccredited (generically) by major card processors in Europe and is fully end-to-end certified to Payment Card Industry Data Security Standards (PCI: DSS) Level 1, as mandated by Visa and MasterCard.
Through EMBOSS, merchants can quickly accept integrated card payments within their EPOS tills, kiosks and hospitality payment systems as well as enhance their Web sites to accept Online payments with minimal capital investment and low, ongoing services costs. EMBOSS reduces the business and technical issues of outsourcing payment services and helps retailers avoid lengthy timescales and high costs of bank accreditation. Moreover, EMBOSS helps retailer environments with PCI compliance, especially when they only have a handful of integrated point-of-sale terminals or low throughput transactional Web sites.
Rohit Patni, EVP Sales and Marketing, YESpay, said, "Businesses of all sizes are facing major payment issues, including the task of complying with PCI DSS regulations, the rise in fraudulent activity, costs and timescales surrounding bank accreditation and the October 2010 liability shift for credit Chip and PIN transactions. These problems can be eradicated by outsourcing to YESpay's managed bureau service which takes on the responsibility, relinquishing the need for PCI compliance and bank accreditation by the merchant."
Bill Farris, Vice-President, Product Management, Chase Paymentech, said, "We are confident in YESpay's ability to deliver a superior product as its proven expertise in the payment sector and their track record in providing managed card payment services which they have been doing for over five years in Europe. We are equally confident that the company's knowledge of payments and the provision of outsourced managed services will help support our retailers in Canada through the introduction of EMV Chip and PIN."
Given the large percentage of transactions performed by retailers using multilane payment solutions, YESpay's EMBOSS managed credit / debit card payment service provides an innovative and low cost alternative to bank-owned terminals that helps retailers integrate Online card payments with their existing retail infrastructures while providing a migration path to full EMV compliance.
PR Contact:
Rohit Patni
EVP Sales and Marketing
YESpay international Ltd
rohit.patni@yes-pay.com
www.yes-pay.com
About Chase Paymentech
Chase Paymentech, a subsidiary of JPMorgan Chase & Co. with headquarters in Toronto, ON and Dallas, TX, is a global leader in payment processing and merchant acquiring. The company's proprietary platforms provide access to a wide variety of payment methods, such as credit and debit, Chip and PIN cards, and prepaid stored value cards. Chase Paymentech also provides a full set of solutions aimed at accelerating cash flow and managing transaction data. On the Internet or at the point of sale, Chase Paymentech's unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to Canadian companies both large and small.
For more information, please visit www.chasepaymentech.ca.
About YESpay
YESpay is a global payments services company providing 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. It provides outsourced management payment services anywhere in the world to traditional high street stores, hospitality, leisure, fuel, mail order and web environments.
Through EMBOSSTM, its Gateway to Managed Payment Services, merchants can quickly accept integrated card payments within their EPOS tills, kiosks, and hospitality payment systems as well as enhance their websites for on-line payments with minimal capital investment and low on-going services costs. EMBOSS is an on-line IP-based payment processing service that has been pre-accredited (generically) by major card Acquirers in Europe (including Barclaycard Business, HSBC, HBOS, Lloyds Cardnet, Streamline, Ulster Bank, Elavon, PBS, Amex and Diners) and North America (including Chase Paymentech). In addition, YESpay's 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.
YESpay's EasyV-Suite of card payment products are innovative and cost-effective solutions for EPOS, Kiosk, Hospitality, Mobile and Internet Websites that combine with the YESpay hosted EMBOSS payment service to enable their merchants to perform credit or debit card payments in both card-present and card-not-present environments.
www.yes-pay.com
