ISXPay’s First EU Merchant Going LIVE

ISXPay

iSignthis Limited (ASX: ISX), headquartered in Melbourne, Australia, is listed on Australian Securities and Frankfurt Stock Exchange (ASX: ISX | FRA: TA8). The company has an operations center in Nicosia, Cyprus, and regional offices across Europe. The company is engaged in remote identity verification, payment authentication, and payment processing providing an end-to-end onboarding service for merchants.

ISX subsidiary, iSignthis eMoney Ltd (ISXPay) announced its first EU merchant going live today. It has its own integrated and unified neobanking platform which comprises a principal acquiring platform for Visa, Mastercard, Diners, Discover, (China) Union Pay International, and JCB International, an American Express aggregator. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

It provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, Trustly, WeChat, AliPay, and others. The fund settlements will be deposited to ISXPay issued ISEMCY22 International Bank Account Numbers (IBANs). On 5 December 2018, ISX accepted deposits on behalf of customers to its own issued IBANs.

It is the first ASX listed fully authorized EU neobank with deposit taking & payment capabilities

The Company is consistently progressing its capabilities since 2015, initially starting with Paydentity platform, and then advancing to be an EU/EEA authorised eMoney Institution in early 2017, followed by principal licensing of Visa, Mastercard, JCB, Diners, Discover, China UnionPay and AMEX as payment capabilities, with Euro-system central banking facilities and SEPA going live in the last two weeks.

The Company has also applied for an Australian ADI license directly with APRA authorization anticipated in early Q2 2019. The Company has already been granted Australian licensing under the Reserve Bank of Australia “Card Access Regime” by Mastercard, with Amex, Diners, Discover and China UnionPay also licensed. Application for Reserve Bank of Australia ESA accounts has also been submitted.

As per the management, ISX has passed another milestone, where its first EU based merchant is using its unified transactional banking, deposit functions and bank to bank transfer functions. The Paydentity platform is performing the identity verification, ISXPay is performing the payment processing and settlement, and Probanx.com, an international banking software company, is performing the journaling of the settlement deposits from ISXPay, with ISXPay executing outbound transactions.

The merchants will have complete transparency of settlement flows, monies on deposit, fees, and transactions by logging into their Probanx.com dashboard. They can electronically transfer funds within the SEPA banking network to make supplier, payroll, utilities, tax, pension, and other payments directly from their ISXPay EMA business IBAN facilities.

ISX announced the completion of its Tier 1 integration to access both Visa and Mastercard directly as on 27 November 2018. On 14 November 2018, it executed an e-commerce acquiring business agreement with Diners Club International Ltd.

Over the past six months, the scrip price has dipped by 11.43%, plunging from 17.5 cents on 12 June 2018 to 15.5 cents on 12 December 2018. Today, the price soared by 3.23% reaching to 16 cents. The company has a market capitalization of $166.74 million and Earnings per share of -0.008 AUD.


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