iSignthis Ltd Stock Market Press Releases and Company Profile
Further Australian Card Acquiring/Processing Contracts Executed
Further Australian Card Acquiring/Processing Contracts Executed

Melbourne, Sep 4, 2017 AEST (ABN Newswire) - Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (googlechartASX:ISX) (googlechartTA8:FRA), the world leading RegTech for identity verification and payment services, is pleased to announce that it has contracted further merchants to ISXPay Australia.

Highlights

- Annual Card Transactions in excess of $40m to be processed, cleared and settled to merchants bank accounts by ISXPay

- Net Margin in excess of 75 basis points

- Anticipated annualised Gross Profit in excess of $300,000 for card acquiring related aspect of agreements.

Card Acquiring: Processing & Settlement Services

The total card acquiring 'book' value is now in excess of $40m per annum of transactions to be processed and settled by ISXPay directly to the merchant's bank account. An average net margin of 0.75% for provision of card acquiring / payment facilitation & settlement services is applicable across the total contracted value of $40m.

Transactional fees charged are at a weighted average of 23c/Tx.

The merchants are a diversified group of online retailers, an ASX listed credit licensee and AFSL holders providing financial services. These online merchants all operate in either one or all of high fraud, high risk or AML regulated environments,

ISXPay services will typically commence circa 6-8 weeks from execution of merchant contract, and contracts are for a minimum of 2 years and evergreen unless terminated.

The Contracts are expected to deliver a gross profit in excess of $320,000 per annum across the two key revenue silos of 'processing' and 'settlement' identified in Investor Update dated 31st July 2017. The revenue silo of 'verification' cannot be estimated at this point in time against these customers, as aggregated customer metrics are not as yet available.

The Company announced on the 8th August 2016 an agreement with the National Australia Bank (googlechartASX:NAB), whereby daily cashflow for card settlement is provided by the NAB at a wholesale rate to the Company. This allows the Company to pursue merchants of all sizes, as the NAB agreement ensures that the Company has adequate daily cashflow to effect settlement.

Patented Antifraud and Identity Verification Technology

The Company has patents which allow it to prove ownership of a credit card via its Payment Instrument Verification (PIV) services. Whilst focus to date has been on PIV as a means for enhanced due diligence to satisfy Know Your Customer (KYC) as part of Anti Money Laundering regulations, PIV can also be used as a real time means to reduce card not present fraud. The Company's patents provide a means to capture 'compelling evidence', which is a means to reverse chargebacks under the Visa Inc. and Mastercard Worldwide operating rules.

Transactions will be screened by the iSignthis risk engine on behalf of the merchant, and PIV activated by iSignthis, or, by the merchant using API calls on a transactional basis. The iSignthis technology and platform is versatile, and can be configured to deliver enhanced payment gateway, antifraud, and/or identity verification services on a transaction by transaction basis.


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@activ8capital.com.au



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