Global | Change

Verifone and YESpay Gain Barclaycard Approval For End-to-End CHIP and PIN Service

EMBOSS Integrated Bureau Service Now Available With SC 5000 For Fast-Track Migration April 12, 2005 United Kingdom

Verifone Inc., the leading provider of payment solutions, and YESpay, a global provider of EMV compliant payment processing services, announce that full Barclaycard Business approval has been received for YESpay’s end-to-end Chip and PIN bureau service, EMBOSS, with Verifone’s SC 5000 secure consumer-facing payment solution.

YESpay’s EMBOSS helps retailers migrate their existing EPoS estates to Chip and PIN at a cost equivalent to a bank-owned terminal. Hosted at Transaction Network Services (TNS), the IP-based bureau service provides high-speed authorisation and settlement of credit and debit card transactions, and is now available with Verifone’s SC 5000 – the fastest, easiest way to upgrade terminals or EPoS to an EMV-compatible solution.

Rohit Patni, EVP Sales and Marketing, YESpay, said, “Verifone has a strong reputation and was an obvious partner for our EMBOSS bureau service. The SC 5000 is robust and has all the design features that retailers need for secure Chip and PIN transactions; we’ve received positive feedback from our customers.”

EMBOSS supports a variety of connectivity options and, using ADSL and high-speed IP-based connectivity, offers much faster transaction times than standard PSTN dial-up – typically just two or three seconds – without requiring a separate phone line, line rental or call charges.

Commenting on today’s announcement, Nigel Bidmead, EMEA Managing Director for Verifone said, “We are delighted to be working with YESpay to bring this streamlined, pre-accredited service to retailers, and deliver a total, fast-track solution to Chip and PIN migration.”

The SC 5000 incorporates a number of high security features to raise the level of fraud protection for card present transactions. It is designed to meet all the latest global payment industry security standards, is PED approved and EMV Level 2 certified.

About Verifone, Inc.
Verifone, Inc., a global leader in secure electronic payment technologies, provides expertise, solutions and services for today with a migration strategy for tomorrow. Verifone delivers solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. Verifone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare. Verifone has shipped over eleven million electronic payment systems since inception in 1981.

About YESpay International
YESpay is a global provider of EMV compliant payment processing services to Retailers, Card Acquirers and Issuers. Headquartered in the UK, with a development centre in India, we provide our EMBOSS payment service in European and Asia Pacific markets as a fully accredited on-line EMV Chip & PIN and magnetic credit / debit card transaction processing and issuing fulfilment bureau service.

EMBOSS is based on our proven payment platform and helps retailers migrate their integrated EPOS, EFTPoS, Mobile POS and Kiosks payments infrastructures to EMV Chip and PIN to overcome the risks from the fraud liability shift mandated by the card schemes and banking institutions.

Our open partnerships with leading Card Acquirers and Issuers, retail payment software and hardware organisations and Mobile Network Operators are significantly reducing the costs and timescales of implementing payment solutions. With a strong commitment towards deploying national payment services and customer support, YESpay is responding to the global EMV migration and Internet payment processing market opportunities with EMBOSS at the front of this transformation.

For further information please contact:
Rohit Patni, EVP – Sales and Marketing
YESpay International Limited,
Kinetic Business Centre, Theobald Street, Elstree,
Hertfordshire WD6 4PJ.
Tel: +44 (0)20 8387 1295