ISXPay granted Visa Inc. Principal Membership
- iSignthis eMoney Ltd, a subsidiary of the leading RegTech payment and identity verification provider iSignthis Ltd, is now a Principal Member of Visa Inc., one of the major card schemes.
- Major card scheme principal membership compliments Paydentity RegTech offerings
ISXPay(R) has previously been confirmed by the Central Bank as having been 'passported' to operate in all European Economic Area Member (EEA) member states for issuing/distribution/redemption of e-money, and issuing and/or acquiring of payment instruments, including cards under the 'freedom to operate' provisions of the applicable European Directives.
Card Scheme Update
ISXPay(R) is now a Principal Member of three card schemes, including Mastercard Worldwide, JCB International and Visa Inc.
Finalisation of Integration to Mastercard is scheduled for early November, with EEA card operations for Mastercard able to commence immediately on completion. Visa Inc integration will commence shortly, and will be due for completion within 4 months. JCB International integration is ongoing.
Timetable for integration to card schemes is set by the card scheme's availability, and is not driven by the Company.
The Company anticipates that card acquiring and settlement operations in Australia will commence imminently, within weeks, pending completion of integration by various merchants. The Company is negotiating further card acquiring agreements.
About Visa in Europe
Visa Europe is a wholly owned subsidiary of Visa Inc. (NYSE:V). Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks - VisaNet - that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products.
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is the global RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.
iSignthis Paydentity service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, Australia and New Zealand.
ISXPay is a principal member of Visa, Mastercard, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, Trustly, WeChat, AliPay and others.
Probanx Information Systems Ltd (Probanx), a wholly owned subsidiary of iSignthis Ltd, is an international banking software company which has been serving the banking industry since the year 2000 by developing comprehensive banking software solutions to financial institutions around the globe. Probanx offers web-based banking solutions using the latest technology and international standard business rules. Our customers are located on five continents and supported from our technical centres in Europe and Australia.
iSignthis' Probanx delivers core banking software, including a fully comprehensive and versatile banking solution for retail, corporate and private banks, emoney and payment institutions, offering capabilities that up until now were affordable only by large commercial banks.
Read more about the company at our website http://www.isignthis.com
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