iSignthis Ltd Stock Market Press Releases and Company Profile
First EU merchant live on unified neobanking & payments plat
First EU merchant live on unified neobanking & payments plat

Nicosia, Dec 13, 2018 AEST (ABN Newswire) - iSignthis Ltd (googlechartASX:ISX)(googlechartTA8:FRA) subsidiary, iSignthis eMoney Ltd, trading as ISXPay(R) ("the Company"), is pleased to announce its first merchant has gone live on its own integrated and unified neobanking platform comprising principal acquiring platform for Visa, Mastercard and JCB, with fund settlements being deposited to ISXPay issued ISEMCY22 International Bank Account Numbers (IBANs).

Highlights

- First Merchant now live and processed via ISXPay's own Principal member Tier 1 connections

- Settlement of Merchant Funds to ISXPay issued IBAN based account

- Funds held with zero credit risk under EU's "Eurosystem" Central Banking system

- first ASX listed fully authorised EU neobank with deposit taking & payment capabilities

- Australian ADI facilities to follow within months.

John Karantzis, CEO of iSignthis Ltd, said "We have passed yet another milestone, where our first EU based merchant is using our unified transactional banking, deposit functions and bank to bank transfer functions.

The Paydentity platform is performing the identity verification, ISXPay is performing the payment processing and settlement, and Probanx.com is performing the journaling of the settlement deposits from ISXPay, with ISXPay executing outbound transactions. Our merchants will have full visibility of their settlement flows, monies on deposit, fees and transactions by logging into their Probanx.com dashboard.

Merchants can now electronically transfer funds within the SEPA banking network to make supplier, payroll, utilities, tax, pension and other payments direct from their ISXPay EMA business IBAN facilities. We will be making use of the last few weeks of 2018 to ensure that all of our systems operate as expected, and we will be driving services and revenues with our contracted merchants from 2019. We are also now pushing hard to deploy our Australian capabilities, for which we anticipate to be making significant progress in the near future.

Our focus as a neobank is on delivering transactional banking with deposit taking facilities to regulated entities in the EU and Australia."

The Company has been developing its merchant and business focused neo-banking capabilities since 2015, commencing initially with its patented identity verification service on the Paydentity(TM) platform, and then progressing to being an EU/EEA authorised eMoney Institution in early 2017, followed by principal licensing of Visa, Mastercard, JCB, Diners, Discover, China UnionPay and AMEX as payment capabilities, with Eurosystem central banking facilities and SEPA going live in the last two weeks.

The Company has also applied for an Australian ADI license directly, bypassing the 'restricted ADI' step, with APRA authorisation anticipated early Q2 2019. The Company has already been granted Australian licensing under the Reserve Bank of Australia "Card Access Regime" by Mastercard, with Amex, Diners, Discover and China Unionpay also licensed. Application for Reserve Bank of Australia ESA accounts has also been submitted.


About iSignthis Ltd

iSignthis LtdiSignthis 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.

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Contact

Media: contact@isignthis.com

Investor Relations
Chris Northwood
Activ8Capital
T: +61-458-809-177
E: cnorthwood@isignthis.works or investors@isignthis.com



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