YESpay international and partner to launch cloud-based NFC payment platform


YESpay International, a global card payments service company, and mobile electronic wallet service provider are together launching a new cloud-based contactless payment platform using near field communication (NFC) technology. The contactless service will be compatible with Visa PayWave and Mastercard PayPass standards.  YESpay is producing the NFC reader/writer payment terminals and EMBOSS (the YESpay Managed Payment Service) payment-processing services whilst YESwallet is developing a PayWave/PayPass standard virtual payment cards cloud system through its Pouch digital wallet service. The new technology will provide an e-Money payment platform that will enable contactless payments via NFC-enabled smartphones. In the short-term the partnership intends to focus on developing its e-Money payment service for businesses, which will be able to implement the Pouch Cloud Service without having to fork out heavy upfront investments. The two companies eventually aim to partner with bankcard issuers and enterprises issuing Visa and MasterCard.

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