- Australian CFD Trader, TraderQ, completes integration and is now transacting "live" with ISXPay(R) via Paydentity(TM) platform.
- ISXPay(R) providing identity verification, payment processing, settlement and full payment facilitation services
- TraderQ will contribute revenue in the current 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, including TraderQ, of Visa and Mastercard transactions, in addition to BPAY payout facility to Australian cards.
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).
TraderQ 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. Paydentity(TM) services to be scaled in shortly.
TraderQ's own forecast revenue and corresponding calculated ISXPay revenue contribution has been included on an aggregated basis with other merchants per the announcement dated 26/10/2017 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, including the also recently announced www.tradefinancial.com.au, 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 the global RegTech leader in remote identity verification, payment authentication and payment processing. 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' and its subsidiary, iSignthis eMoney Ltd, trade as ISXPay(R), and are an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, Australia and New Zealand.
ISXPay is a principal member of Visa Inc, Mastercard Worldwide and JCB International.
Read more about the company at our website http://www.isignthis.com
National Australia Bank Limited