Yespay International Ltd.’s Emboss platform has become Canada’s first EMV chip-and-PIN card-acceptance service fully certified by Chase Paymentech Solutions LLC, according to the London-based payment-services provider.
Emboss is designed to enable online and brick-and-mortar merchants to integrate credit and debit payments for online or in-store transactions. Yespay’s Emboss payment service does this by managing the authorization routing and settlement of EMV credit and debit transactions between the merchant and the card-acquiring network.
Additionally, “because Yespay has been fully certified to Payment Card Industry data security standards, merchants can add a security perimeter to their websites without worrying about lawsuits or having to spend money becoming compliant on their own,” a Yespay spokesperson tells PaymentsSource.
The Chase Paymentech certification involved testing Emboss with Canada’s debit network Interac and with MasterCard Worldwide and Visa Inc. using the VeriFone Vx810 PIN pad to test-swipe EMV-compliant debit and credit cards. The service enables Yespay to ensure its communications with the bank and transactions are secure and valid through direct contact with Chase Paymentech at the time of the sales, the spokesperson says.
A representative from Chase Paymentech, a Dallas-based merchant-processing subsidiary of JPMorgan Chase & Co., was unable to provide more details by PaymentsSource deadline.
Additionally, merchants that sign up to use Yespay’s service may begin accepting EMV cards faster–in about three to four weeks–than the usual seven to eight weeks for other services, the spokesperson notes.
Yespay charges merchants monthly fees based on transaction volume. For up to 500 transactions per month, merchants usually pay about C$26.10 (US$25.62 or 20.12 euros), the spokesperson says.