A cost-effective and simple way to beat the threatening March 31st EMV liability shift.
Toronto, Canada (PRWeb UK) February 14, 2011
A global fashion retail chain operating over 13 stores throughout Canada is now processing EMV Chip and PIN payments. Integrated with YESpay's EMV Chip & PIN accredited and PCI-DSS Level 1 certified managed payment service called EMBOSS, this new merchant can now benefit from a fully outsourced and comprehensive payment solution in partnership with InfoSpec Systems Inc. (developers of Profitek) and First Data Merchant Services.
The integration with YESpay International allows this leading fashion retailer, famous worldwide for its four letters acronym, to beat the threatening EMV liability shift of March 31st. Indeed, by this date merchants who do not accept EMV cards will be liable for any fraudulent transactions, leading to tremendous chargebacks. By utilizing YESpay's EMBOSS ¬ EMV payment solution, their stores will benefit from the most cost effective, reliable and comprehensive payment solution in Canada. Roll-out has started downtown Toronto, and YESpay's solution is scheduled to be deployed across Canadian stores over the next few weeks. This retail store brand is now, along with YESpay's numerous live merchants, leading the way towards cutting edge integrated EMV payment technology in North America.
Harry Morge, National Sales Manager at YESpay International adds “Global retail chains do think twice before using a payment service provider. This milestone again proves the strong confidence in EMBOSS integrated payment solution any merchant can have. It is cost-effective thanks to a simple monthly fee structure that includes reporting portal, recurring billing etc. Most importantly, deployment is quick and seamless: in a matter of weeks, YESpay payment solution can be integrated by POS vendors and then be rolled-out in multi-location retail chains throughout Canada, as this implementation shows.”
This milestone is significant as it confirms YESpay International aggressive expansion in North America, giving confidence in the robustness of its EMBOSS fully managed payment gateway for EMV card processing.
YESpay's EMBOSS payment solution relieves merchant from maintaining an in-house payment solution as well as undergoing formal EMV end-to-end bank testing and managing PCI-DSS compliance. The TOP six benefits of YESpay's payment solution are explained below:
- YESpay's EMBOSS card payment service is a pre-accredited EMV Chip & PIN card payment solution eliminating merchant's involvement in EMV certification. By using EMBOSS, merchants can completely avoid Acquirer time-consuming and high EMV implementation and certification costs required by the card schemes which have mandated 31st March 2011 as the deadline to convert to EMV.
· YESpay is PCI-DSS (Payment Card Industry – Data Security Standard) Level 1 certified and companies can save up to 65% on their compliance costs and benefit from a high quality service and 24/7 support services. Indeed, outsourcing the card payment side of your business to YESpay helps to reduce the scope of PCI-DSS requirements undertaken by the merchant and reduce costs related to PCI-DSS compliance.
· YESpay is also PA-DSS (Payment Application – Data Security Standard) certified and together, YESpay's PCI-DSS Level 1 and PA-DSS certifications ensure that in all cases, the point-of-sale software is freed from PA-DSS certification.
· YESpay supports ‘Tokenization' enabling merchants to monitor spend patterns linked to specific cards or charge customers for goods without access to card details by using a unique ‘Token number' linked to the original card number.
· YESpay's also provides Point-to-Point (End-to-End) encryption from the card acceptance PIN pad devices all the way to its EMBOSS data centers.
· YESpay is based on a low-cost commercial model. YESpay charges a single ‘Setup fee' per POS (typically $60-70). Besides, merchants benefit from low on-going ‘fixed monthly fee' per POS system or e-commerce website (between $20-30) and NOT per click or individual transaction charge. Included in the fixed monthly fees are our payment service, support and Help desk (24 hours), tokenization and online web-based reporting from the EMBOSS data centers. Unlike other solutions from our competitors, YESpay does NOT charge software licenses and maintenance fees and our price comparison analysis illustrate that merchants can save more than 50% in payment service provision by choosing YESpay!
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. EMBOSSTM 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.