iSignthis Ltd, the provider of identity proofing technology, has announced that it has entered into a Payment Facilitator Program Services Agreement with National Australia Bank.
iSignthis is fintech industry’s innovative KYC compliance service provider. It offers a full end to end solution for merchant customers including payment gateway, card vaulting, tokenization services, strong customer authentication, and customer due diligence/KYC. With this agreement, it will now be able to offer card acquiring and settlement services for Australia and New Zealand.
“This agreement allows us to offer paydentity integrated with card acquiring/settlement services for our merchant customers in Australia and New Zealand. Specifically, our customers and prospective customers in FX, securities, wagering and gaming, will now have the option of a full service provider, from a single integration. This agreement compliments the upcoming card acquiring and settlement services to be launched shortly by ISX Pay for the European Union SEPA zone”, iSignthis Managing Director, John Karantzis said.
NAB will act as the Acquirer for transactions processed by iSignthis on behalf of merchant customers, with both parties taking a share of the merchant fee. According to the official release, card acquiring services are charged as a flat fee plus a percentage of the transaction sales amount. The iSignthis Gateway, Card Vaulting, Strong Customer Authentication and identity/KYC services are charged in addition, on an as used / per unit basis.
The service is expected to be available to merchants from early December 2016, following integration between the parties.
