Yespay Wallet to be ready for NFC by end of 2011

Yespay International is to introduce an NFC mobile wallet service that will allow customers to use coupons and discount vouchers via NFC by the end of the year, the company’s CEO has told NFC World.

The Yespay Wallet, introduced last month, allows user to create a mobile wallet and register their credit and debit cards for payment. Consumers can then choose which payment method they want to use when checking out at participating merchants’ websites, via mobile or at physical stores.

“We have already started integrating NFC and we are working with major chip manufacturers, including Inside Secure, to enable support for NFC inside our wallet service,” Dr Chandra Patni told NFC World.

“I see NFC being used for very simple electronic coupons to start with as soon as compatible phones become more prevalent. In long term we are working towards EMV functionality but that requires applets to be downloaded into secure elements and that might take a few years.

“We will see usage by the end of the year for simple coupons and promotions — it will be more of a marketing tool rather than a full payment service but we are working on this.”

Yespay is a global card payments service company that provides contactless and gift card payment processing services to thousands of retail outlets in Europe and North America.

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