VeriFone and YesPay receive Barclaycard approval for Chip and PIN service
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.
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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.