iSignthis announces first EU merchant live on unified neobanking & payments platform 

Highlights

• First Merchant now live and processed via ISXPay’s own Principal member Tier 1 connections
• Settlement of Merchant Funds to ISXPay issued IBAN based account
• Funds held with zero credit risk under EU’s “Eurosystem” Central Banking system
• First ASX listed fully authorised EU neobank with deposit taking & payment capabilities
• Australian ADI facilities to follow within months.

iSignthis Ltd subsidiary, iSignthis eMoney Ltd, trading as ISXPay® (“the Company”), is pleased to announce its first merchant has gone live on its own integrated and unified neobanking platform comprising principal acquiring platform for Visa, Mastercard and JCB, with fund settlements being deposited to ISXPay issued ISEMCY22 International Bank Account Numbers (IBANs).

John Karantzis, CEO of iSignthis Ltd, said “We have passed yet another milestone, where our first EU based merchant is using our 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 is performing the journaling of the settlement deposits from ISXPay, with ISXPay executing outbound transactions. Our merchants will have full visibility of their settlement flows, monies on deposit, fees and transactions by logging into their Probanx.com dashboard. Merchants can now electronically transfer funds within the SEPA banking network to make supplier, payroll, utilities, tax, pension and other payments direct from their ISXPay EMA business IBAN facilities. We will be making use of the last few weeks of 2018 to ensure that all of our systems operate as expected, and we will be driving services and revenues with our contracted merchants from 2019. We are also now pushing hard to deploy our Australian capabilities, for which we anticipate to be making significant progress in the near future. Our focus as a neobank is on delivering transactional banking with deposit taking facilities to regulated entities in the EU and Australia.”

The Company has been developing its merchant and business focussed neo-banking capabilities since 2015, commencing initially with its patented identity verification service on the Paydentity™ platform, and then progressing to being 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 Eurosystem central banking facilities and SEPA going live in the last two weeks.

The Company has also applied for an Australian ADI license directly, bypassing the ‘restricted ADI’ step, with APRA authorisation anticipated 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.

About iSignthis Ltd (ASX: ISX | DE_FRA: TA8)
Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (ASX: ISX | FRA: TA8) is the global 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 and identity service via our Paydentity™ and ISXPay® 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 regulated merchants in as little as 3 to 5 minutes.

iSignthis Paydentity service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and mfocus on growing their core business. iSignthis’ subsidiary, iSignthis eMoney Ltd, trades as ISXPay®, and is an EEA authorised eMoney Monetary mFinancial Institution, offering card acquiring in the EEA, and Australia.

ISXPay is a principal member of Visa Inc, 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, Trustly, WeChat, AliPay and others.

Probanx Information Systems Ltd (Probanx), a wholly owned subsidiary of iSignthis Ltd, is an international banking software company which has been serving the banking industry since the year 2000 by developing comprehensive banking software solutions to financial institutions around the globe. Probanx offers web-based banking solutions using the latest technology and international standard business rules. Our customers are located on five continents and supported from our technical centres in Europe and Australia.

iSignthis’ Probanx delivers core banking software, including a fully comprehensive and versatile banking solution for retail, corporate and private banks, emoney and payment institutions, offering capabilities that up until now were affordable only by large commercial banks.

Read more about the company at our website www.isignthis.com and www.probanx.com
For investor information, please contact: iSignthis Ltd (ASX: ISX | FRA: TA8): investors@isignthis.com

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