YESpay solves EMV issues for Canadian retailers with Chase Paymentech

According to a news release, YESpay's managed EMBOSS card payment services gives retailers access to fully integrated EMV chip and PIN payment services, removing the burden of retailers having to manage their own formal testing.

Chase Paymentech will assist YESpay to provide its secure payment services for retail, mail order, telephone ordering and e-commerce credit and debit cards, with online PIN validation in card-present environments, to mainstream or Web retailers. 

YESpay says it initially plans to target mid-tier retailers with integrated EPOS retail systems.

EMBOSS is an online, IP-based payment processing service that also has been pre-accredited by major card processors in Europe and is fully end-to-end certified for compliance with the Payment Card Industry Data Security Standard, 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. 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.

"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," said Rohit Patni, executive vice president of sales and marketing for YESpay. "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."

Given the large percentage of transactions performed by retailers using multilane payment solutions, YESpay's EMBOSS managed credit/debit card payment service provides a 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.

"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," said Bill Farris, vice president of product management for Chase Paymentech.