OTCapital transacting via ISXPay Australia
Melbourne, Jan 3, 2018 AEST (ABN Newswire) - Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (TA8:FRA), the global leader in RegTech for identity verification and transactional banking/payments, is pleased to announce that it has completed integration of its services to Australian Securities and Investment Commission (ASIC) regulated OTCapital (www.OTCapital.com). Transactional services are live with revenue commencing this month.
- Australian Forex, Stock, Commodity, CFD and Index broker OTCapital
- Now transacting "live" with ISXPay(R) via Paydentity(TM) platform.
- ISXPay(R) providing payment processing & settlement services
- OTCapital will contribute revenue in the March quarter
iSignthis offers payment facilitation services in Australia (ISXPay(R)), via its integration with the National Australia Bank (ASX:NAB). The agreement with the NAB allows ISXPay(R) to offer full card acquiring payment facilitation services including processing, clearing and funds settlement to merchants, for Visa and Mastercard transactions, in addition to Poli Payments.
ISXPay(R) incorporates the Company's Paydentity(TM) technology delivered over our enhanced payments platform, which provides identity verification (IDV) services in addition to our patented payment instrument verification (PIV) and Strong Customer Authentication (SCA).
OTCapital is now processing live transactions via the ISXPay(R) service, and will contribute revenue in the current quarter. Services are progressively going live from today, commencing with payment facilitation. Following 'bedding in' of core payment services, Paydentity(TM) services will be scaled in shortly and will include the multichannel Paydentity cascade process, incorporating dynamic and historic data to maximize both conversions and reach via enhanced customer match rates.
OTCapital's own forecast revenue and corresponding calculated ISXPay revenue contribution has been included on an aggregated basis with other merchants per the AGM announcement dated 28th November 2017. The Company has now contracted merchant customers for ISXPay(R) and Paydentity(TM) services across multiple sectors, including the trading/brokers, gaming, digital, fintech and retail sectors.
The Company's agreement with the NAB will be leveraged to provide card acquiring services for further Australian and New Zealand online merchants. The A/NZ acquiring services complement the Company's European Monetary Financial Institution e-Money license (SWIFT BIC : ISEMCY21), its European partnership with Worldline (EPA:WLN) and the Company's own Principal Memberships of Visa Inc (NYSE:V), Mastercard Worldwide (NYSE:MA) and JCB International. Principal membership of card schemes allows the Company to independently offer both acquiring (i.e. fund processing & settlement) together with issuing of cards, including virtual, credit, debit & prepaid cards.
iSignthis continues to build strong relationships with AML/CFT regulated merchants, enabling our merchants to meet the increasingly complex compliance requirements of AML regulations in Australia, the USA and Europe via its Paydentity(TM) and ISXPay(R) services.
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.
National Australia Bank Limited