First European Based Merchant Transacting
- 1 of the 4 EU settlement merchants announced on 26th Feb is now live and transacting
- Revenue contribution commences immediately (March qtr)
- GPTV settlement value from this merchant is anticipated to be in excess of EUR50m (annualised)
- Panda platform integrated to Paydentity(TM) & ISXPay.
One (1) of the Four (4) merchants announced last week on the 26th February as having been contracted, is now live and transacting, and will be contributing to revenue as of today.
This merchant is now accepting payments via ISXPay(R) from Visa, Mastercard, and Sofort, with Trustly and JCB services to follow within coming weeks.
Paydentity(TM) has been rolled out as the merchant's customer due diligence platform, which has been integrated via a multi-tenancy solution to the Panda (pandats.com) platform, allowing for rapid future integration of merchants.
Gross Processed Turnover Value (GPTV) is anticipated to be in excess of EUR50m annualised for this merchant, based upon trading histories provided by the merchant.
The Company will update the market with more accurate forecasts of Merchant Services Fee percentage (MSF%) and annualised GPTV settlement value in the regular 4C quarterly reports, which will be based on merchants actual trading results.
The Company will provide a more accurate estimate of the integration timetable of the remaining three merchants mentioned in last weeks announcement, once schedules have been agreed with each of the parties.
As announced previously, iSignthis is engaged with a number of merchants across a range of industry verticals in the EU, Australia and other regions and expects a steady but controlled addition of new customers throughout the year.
About iSignthis Ltd
Australian Securities and Frankfurt Stock Exchange listed 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 meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) 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, and Australia.
ISXPay(R) is a principal member of Visa Inc, Mastercard Inc, 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.
UAB Baltic Banking Service, a wholly owned subsidiary of iSignthis Ltd, provides API based access to SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Central Bank of Lithuania's CENTROLink service.
Probanx Information Systems Ltd (Probanx(R)), 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.
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