YESpay International, a global
European and North American payment
gateway, is positioning itself for
providing new mobile commerce payment
services.

Growing at over 40% pr annum with thousands of merchants globally, YESpay has launched a free consumer mobile and web wallet service that in the future will also support NFC based payments, once NFC smartphones become widely available.

“YESpay merchants perform millions of card payments per week, and now their card paying customers can create free personal wallets to get instant benefits such as card payment e-receipts, e-coupons and location based services,” said Dr Chandra Patni, CEO of YESpay International.

Dr Patni added: “YESpay-Wallet supports storage of personal Visa and MasterCard in the ‘My Wallet’ function which can be used to make payments at web, mobile and physical stores of YESpay merchants.”

YESpay-Wallet for BlackBerry, iPhone and Android smartphones will shortly be available. YESpay-Wallet supports roll out of retail couponing, loyalty and location-based mobile advertising and marketing services, many of which will use NFC in the future. Standard Visa and MasterCard payment applications are also supported via the wallet.

The company is encouraging its web, EPOS and Kiosk solutions partners to promote YESpay-Wallet in particular as part of a bigger plan to introduce e-coupons, promotions and gift card services initiative.

YESpay has now released its YESpay-Wallet web-services APIs for any partner to integrate web and mobile wallet functionality. Additionally its Store Manager web-services API enables merchant head office and central systems to control set up and distribution of e-coupons, promotions and location based services to the wallet holders.

“Retailers must be assured of
receiving real value if they are to
promote mobile and web wallets,” Dr.
Patni said.

YESpay-Wallet running on an NFC phone will use a point to point encryption service using the phone secure element to securely transport the wallet login credentials together with the wallet holder chosen card payment method reference to the YESpay payment gateway (EMBOSS datacentres), which will then extract the card details to perform a magnetic card emulation authorisation with the card issuer.

Consumers will also be able pay for in-store purchases at YESpay merchants by launching their YESpay-Wallet mobile application, selecting the card from information stored in the wallet and holding the smartphone in front of a scanner that scans a barcode on the phone screen.

Consumers making purchases online or through a mobile website will need to log in to the wallet, select the card and then confirm the payment.