ISXPay EEA Card Processing Update
Nicosia, April 3, 2019 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) provides ISXPay EEA Card Processing Update.
Highlights
- ISXPay(TM) onboarded more than 13 merchants to live status since 22nd January 2019
- Actual annual GPTV will exceed $302m, calculated using averaged daily figures.
- Daily Processing Volume grown 260% from 1st Feb to 30th March
- Executed more than 100 agreements since October 2018.
iSignthis Ltd ("the Company"), is pleased to announce that between 22nd January 2019(see Note below) and the 30th March 2019, that:
- it has 13 new merchants live on its Tier 1 network in the EEA
- each merchant is ramping GPTV in accordance with the Company's expectations
- daily processing volumes have grown 260% between the 1st February and 1st April 2019
- Actual GPTV on a current recurring basis exceeds $302m (when daily figures annualised)
The Company expects to see a further acceleration of the daily processing turnover volume as additional contracted merchants are onboarded, together with the positive contribution to GPTV as each merchant continues to process greater volumes on the ISXPay network.
The Company has completed due diligence and executed more than 100 agreements for regulated services since October 2018, and is moving to onboard contracted parties as rapidly as possible.
As such, the Company is tracking slightly ahead of expectations in terms of reaching our previously announced annualised GPTV target.
The Company has also transformed its revenue to cost base significantly, with many third party processing costs now eliminated, and actual MSF% average and gross profit now approaching the Company's earning guidance.
The above is a snapshot of part of the operations of iSignthis Ltd, and does not include Probanx, Baltic Banking Services, Paydentity (including processing), and EMA operations.
The Company will report further details with its Appendix 4C, due no later than 30th April 2019.
Note: The actual date upon which it commenced onboarding newly contracted merchants to its Tier 1 European Network
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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