First European Based Merchant Transacting
Melbourne, Mar 7, 2018 AEST (ABN Newswire) - Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (
ASX:ISX) (TA8:FRA), the world leading RegTech for identity verification and payment services, is pleased to provide an update on its European operations.
Highlights
- 1 of the 4 EU settlement merchants announced on 26th Feb is now live and transacting
- Revenue contribution commences immediately (March qtr)
- GPTV settlement value from this merchant is anticipated to be in excess of EUR50m (annualised)
- Panda platform integrated to Paydentity(TM) & ISXPay.
One (1) of the Four (4) merchants announced last week on the 26th February as having been contracted, is now live and transacting, and will be contributing to revenue as of today.
This merchant is now accepting payments via ISXPay(R) from Visa, Mastercard, and Sofort, with Trustly and JCB services to follow within coming weeks.
Paydentity(TM) has been rolled out as the merchant's customer due diligence platform, which has been integrated via a multi-tenancy solution to the Panda (pandats.com) platform, allowing for rapid future integration of merchants.
Gross Processed Turnover Value (GPTV) is anticipated to be in excess of EUR50m annualised for this merchant, based upon trading histories provided by the merchant.
The Company will update the market with more accurate forecasts of Merchant Services Fee percentage (MSF%) and annualised GPTV settlement value in the regular 4C quarterly reports, which will be based on merchants actual trading results.
The Company will provide a more accurate estimate of the integration timetable of the remaining three merchants mentioned in last weeks announcement, once schedules have been agreed with each of the parties.
As announced previously, iSignthis is engaged with a number of merchants across a range of industry verticals in the EU, Australia and other regions and expects a steady but controlled addition of new customers throughout the year.
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.
| ||
|
