Melbourne, Australia, Oct 4, 2017 - (ABN Newswire) - Australian Securities Exchange and Frankfurt Stock Exchange cross list iSignthis Ltd (ASX:ISX) (HAM:TA8), the world leading RegTech for identity verification and payment services, is pleased to announce that it has yesterday been advised by Visa Inc. of the acceptance as a Principal Member of its subsidiary iSignthis eMoney Ltd, trading as ISXPay(R).
- iSignthis eMoney Ltd, a subsidiary of the leading RegTech payment and identity verification provider iSignthis Ltd, is now a Principal Member of Visa Inc., one of the major card schemes.
- Major card scheme principal membership compliments Paydentity RegTech offerings
ISXPay(R) has previously been confirmed by the Central Bank as having been 'passported' to operate in all European Economic Area Member (EEA) member states for issuing/distribution/redemption of e-money, and issuing and/or acquiring of payment instruments, including cards under the 'freedom to operate' provisions of the applicable European Directives.
Card Scheme Update
ISXPay(R) is now a Principal Member of three card schemes, including Mastercard Worldwide, JCB International and Visa Inc.
Finalisation of Integration to Mastercard is scheduled for early November, with EEA card operations for Mastercard able to commence immediately on completion. Visa Inc integration will commence shortly, and will be due for completion within 4 months. JCB International integration is ongoing.
Timetable for integration to card schemes is set by the card scheme's availability, and is not driven by the Company.
The Company anticipates that card acquiring and settlement operations in Australia will commence imminently, within weeks, pending completion of integration by various merchants. The Company is negotiating further card acquiring agreements.
About Visa in Europe
Visa Europe is a wholly owned subsidiary of Visa Inc. (NYSE:V). Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks - VisaNet - that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products.
About iSignthis Ltd:
iSignthis Ltd (ASX:ISX) (FRA:TA8) is the global leader in remote identity verification, payment authentication and payment processing to meet AML/CFT requirements. 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 3.5Bn '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 Mastercard Worldwide and JCB International.
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