Bank Institution Codes and Scheme Participation
Bank Institution Codes and Scheme Participation
Melbourne, Aug 30, 2018 AEST (ABN Newswire) - Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (FRA:TA8), the deposit taking EEA authorised monetary financial institution with transactional banking capability (the "Company"), is pleased to announce that it is now a scheme member of the European Payments Council (EPC) Single Euro Payment Area (SEPA) Scheme. Participants in EU based schemes must first hold relevant regulatory authorisations, of which the Company holds an EEA Authorisation as a deposit taking eMoney Institution. The Company is in the process of an ADI class application with APRA for Australia.

The Company advises that it has been issued the following Bank Institution Codes (BIC):

- iSignthis eMoney Ltd (Cyprus) : ISEMCY22 > (SWIFT and EEA/EU SEPA Connected)

- iSignthis eMoney (AU) Pty Ltd : ISEPAU31 > (to be connected to SWIFT and Australian EFT via own BSB Code post BECS membership)

- iSignthis Ltd : ISIGAU31

BIC is an international standard for unique identification of financial institutions, and are used as the 'address' to route funds from one bank to another, in particular across borders. In Australia, these are usually associated with international transfers and are sometimes known as 'SWIFT Codes'. Per the Company's announcement earlier today, its ISEMCY22 BIC is now connected to the SEPA framework, allowing banks participating in SEPA to route payments to accounts held with iSignthis using the ISEMCY22 BIC as the address.

------------------------------------------------------------------
Status of Various Card and Payment Schemes 
------------------------------------------------------------------
Visa Inc         Australia : 
                 Principal Membership Applied 
                 Currently Tier 2 connected via NAB

                 Europe :  
                 Principal Membership Granted 
                 Tier 1 connection by December 2018

Mastercard       Australia : 
                 Principal Membership Granted 
                 Currently Tier 2 via NAB / Tier 1 by Mid 2019  

                 Europe : 
                 Principal Membership Granted 
                 Tier 1 connection by December 2018 

JCB              Australia :  
                 Principal Membership application in progress 
                 Currently Tier 2 via NAB / Tier 1 by Mid 2019 

                 Europe : 
                 Principal Membership Granted 
                 Tier 1 connection online and certified 

ChinaUnionPay    Australia : 
                 Principal Membership Applied  
                 Tier 3 Connection via partners 

                 Europe : 
                 Principal Membership Applied 
                 Tier 3 Connection via partners 

Diners/Discover  Australia : 
                 Principal Membership Applied 
                 No network connection at present 

                 Europe : 
                 Principal Membership in progress 
                 No network connection at present 

AMEX             Australia : 
                 Principal Membership Granted 
                 Currently Tier 2 via NAB / Tier 1 by early 2019 

                 Europe : 
                 Principal Membership in progress 
                 No network connection at present 

SEPA / BECS      Australia : 
                 BECS Membership application in progress  
                 Currently Tier 2 EFT & BPAY via NAB  
                 
                 Europe 
                 Scheme Participant 
                 Tier 1 connection by November 2018 

SWIFT            Australia : 
                 Participant / BIC Issued 
                 TBA 

                 Europe 
                 Participant / BIC Issued & connected 
                 Tier 1 connection by December 2018 
------------------------------------------------------------------


About iSignthis Ltd

iSignthis LtdiSignthis 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

For more information, please contact: contact@isignthis.com

      


Contact

iSignthis Ltd
T: +61-3-8640-0990
F: +61-3-8640-0953
E: investors@isignthis.com
WWW: www.isignthis.com



Related Companies

iSignthis Ltd    

ABN Newswire This Page Viewed:  (Last 7 Days: 32) (Last 30 Days: 144) (Since Published: 1269) 
ANALYTICS: LOGIN HERE

iSignthis Ltd NEWS: RECENT VISITS (14883)

RELATED VIDEO

Research Report

Social Media