Supply Chain Update
Nicosia, Oct 12, 2018 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) ("the Company") advises that it has resolved its supply chain issues associated with its settlement bank.
Highlights
- Settlement Bank supply chain issues resolved
- ISXPay receiving funds from card processing partners
- Bank Institution Code (BIC) broadcast as 'live'
The Company is receiving funds from its card processing partners, including JCB, into its account held with its banking partner that is replacing Koebanhavn Andelskasse, and will be in a position to settle merchants directly within the next week to ten days.
The Company has been advised that as of yesterday, it's Bank Institution Code (BIC) of ISEMCY22 was broadcast as being "live", allowing the Company to commence final tests of its SEPA scheme credit transfer facilities, together with the mechanism to allow deposits to Company generated International Bank Accounts (IBAN), from other banks.
These tests will continue for approximately one week, after which time the Company will be in a position to offer eMoney accounts underpinned by IBAN, with the ability to transfer funds ex ISXPay IBAN account to any SEPA bank and IBAN via SEPA credit transfer.
Further details to follow in the next week to ten days.
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.
| ||
|
