Today the first cloud based NFC emulation service which fully confirms to MasterCard’s PayPass and Visa’s PayWave contactless payment standards has been announced by YESpay and YES-wallet. The new technology allows merchants via the Pouch cloud service to implement a contactless NFC card payment system without having to make heavy upfront investment. This announcement is welcome news as such services will be essential in helping smaller business support this up and coming technology.

Press release:

London, UK and Toronto,Canada (PRWEB UK) 6 February 2012

Two companies, YESpay International Limited and YES-wallet.com Limited have built a cloud based payment platform using Near Field Communication (NFC) global standard technology. YESpay and YES-wallet today announced the launch of cloud-based NFC contactless card emulation services conforming to PayWave and PayPass standards offering a more convenient and efficient payment solution for merchants and consumers.

By integrating YES-wallet pouch digital wallet service with YESpay EMBOSS payment service, both companies will provide a cloud service based e-Money/pre-paid/gift-card payment platform that allows provision of convenient and efficient payment methods on NFC smartphones based on Visa PayWave and MasterCard PayPass standards.
Both companies have been focusing on development and provision of Near Field Communication products that comply with NFC global standard.

The partnership allows e-Money (pre-paid gift-card) related business, merchant, and mail order house to implement contactless card payment system without having to make heavy upfront investment by using the Pouch cloud service. YESpay will contribute by providing “payment terminals based on NFC reader/writers” and providing “EMBOSS payment processing services to cultivate and manage merchants” and YES-wallet will contribute by providing “PayWave or PayPass standard virtual payment cards cloud system via its Pouch digital wallet service.”

In the near term, both companies will focus on e-Money payment service based on PayWave/PayPass contactless smart card for closed-loop e-Money applications on behalf of Enterprises. In the future, the partnership expects to form partnerships with bank card issuers and enterprises issuing Visa and MasterCard.

YESpay regularly processes millions of cardholder payments for its merchants and predicts mobile payment will attract customers and merchants alike looking to experience the speed, ease and convenience of paying with their mobile phone.

EPOS solutions providers, Mobile App and web developers can contact YESpay International Limited via sales(at)yes-pay(dot)com or 0871 221 9510 to request integration guides and obtain more information about the YESpay mobile payments strategy.