BREXIT - Transitional FCA License Approved
Melbourne, Feb 26, 2019 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) (TA8:FRA) ("The Company") is pleased to announce that it has made preparations for BREXIT for its 100% owned EEA operating entity, iSignthis eMoney Ltd (the 'Firm').
Highlights
- Transitional Authority to operate in the UK Granted
- Company not impacted by BREXIT.
iSignthis eMoney Ltd has notified the United Kingdom's Financial Conduct Authority (FCA), in accordance with the direction made by the FCA under paragraph 3(1)(a) of schedule 3 of the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 (the 'Regulations'), that the Firm wishes to be treated in accordance with paragraph 2(1)(c) of schedule 3 of the Regulations ('Transitional Authorisation').
The FCA has confirmed that the Transitional Authorisation is to apply to the Firm.
The Regulations provide that Transitional Authorisation will apply for a period beginning at (BR)exit day (11pm on 29 March 2019), unless BREXIT is delayed. Under such circumstances, the Firm's existing EU freedom to operate and financial passport arrangements will continue until such time (if any) as a BREXIT event occurs.
The Firm will continue to offer Visa, Mastercard, JCB, and eMoney services, including IBAN based accounts post BREXIT.
About Windsor Brokers
Windsor Brokers is a leading group of companies offering investment services to its clients since 1988. With more than 30 years in operations, Windsor Brokers is facilitating investors access to the global markets. Its main services include Forex and CFD trading on gold, oil, soft commodities, share, indices and more. http://en.windsorbrokers.com
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.
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