Mastercard Relationship Extended to United Kingdom
The iSignthis group now has principal agreements with Mastercard in the European Economic Area (EEA), Australia and the United Kingdom.
The extension of the relationship will allow flykk(R) branded debit Mastercards to be linked to our electronic money services, providing ATM and point of sale access for flykk(R) members.
The MoneySend agreement will further allow funds to be sent to any Mastercard globally from a flykk(R) account, providing flykk(R) members a means to remit funds conveniently, quickly, and cost effectively.
The Mastercard card acquiring service will complement flykk(R) and ISXPay(R) offerings to merchants in UK and will allow ISXPay(R) to provide Mastercard acquiring (authorisation and settlement) services to merchants directly.
The Company is planning to rollout card Issuing and Moneysend during 2021.
Materiality of the UK and Australian agreements cannot be assessed at this point in time, pending final rollouts.
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a 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, electronic money 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 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, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.