July 9, 2009, 12:00 AM

U.K.-based payments services provider enters the North American market

YESpay, a provider of PCI-compliant payment processing services for online and multichannel retailers, recently opened an office in Toronto to serve merchants in North America. Among its services are support for computer chip-based smart cards.

YESpay International Ltd., a provider of payment processing services compliant with the payment card industry’s data security standard for online and multichannel retailers, recently opened an office in Toronto to serve merchants in North America.

“Our experiences in the European market place make us more than equipped to deal with the challenges of entering the North American marketplace,” says Rohit Patni, executive vice president, sales and marketing. “Our managed credit/debit card payment service provides an innovative and 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.” EMV is the term used to identify new standards developed by the Europay, MasterCard and Visa payment card networks for cards, commonly called smart cards, embedded with computer chips that support cardholder identification.

For the past five years, YESpay has been providing PCI-compliant payment services to U.K.-based e-commerce, catalog and multichannel retailers. PCI is the commonly used acronym for the payment card industry data security standard, also known as PCI-DSS.

YESpay provides payment processing services in Internet-hosted and managed services environments. By entering the North American market, it expects to help retailers accept payment transactions generated by EMV-based computer chip cards.

YESpay’s EMBOSS payment gateway supports the ability of retailers to accept chip and PIN-based payment card transactions through online and in-store payment acceptance systems, the company says.

In London, the British Museum Co., which handles retail sales for the British Museum, recently subscribed to YESpay’s EMBOSS managed services bureau to improve its ability to manage payment security, says Muna Khan, I.T. manager for the British Museum Co. “We can log onto a secure site and instantly access a record of payments made,” Khan says. “If there are any discrepancies between sales and payments not matching, we can download statistics and check records.”

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