ISXPay Australian Card Processing Facilities
- ISXPay™ now processing Australian merchants in $AUD, $USD, $GBP, $EUR, $SGD, $HKD
- Includes best of class multicurrency options to complement CFD, FX & Equity brokers
- Incorporates full Paydentity® platform, with electronic verification, DVS and our patented payment instrument verification (PIV), for rapid KYC onboarding to AUSTRAC safe-harbour requirements
The Company’s strategy to offer services as a fully licensed Principal Acquiring neobank, via our own ‘in-house built’ Tier 1 infrastructure, is demonstrably getting results. Revenues and gross profit margins are on the rise from our EEA/EU operations, and, we will shortly see Australian operations contributing to greater revenues.
See our ASX announcement here
The Australian market requires card acquiring institutions to license the major card schemes, including Visa Inc and Mastercard, via the Reserve Bank of Australia’s card access regime. This is a separate licensing regime to the the APRA authorisation required to be an Authorised Deposit-taking Institution (ADI), along which route $ISX is also well progressed.
Our Australian card processing operations stalled last year, as a consequence of the NAB (ASX : NAB) adopting a ‘no appetite’ position, in what is our core target market of merchants who provide regulated financial services in such as securities, equities, CFD’s, FX and money services. However, it is that no risk appetite position which has created the opportunity that is now allowing $ISX an entry into the Australian market as a principal acquirer, and shortly, also as an ADI.
Whilst we don’t have data as yet with regards to the actual performance of these first ten or so merchants, we do have expectations that they will ramp their GPTV quickly – in particular as the first of the NAB’s hard dates is 30th April for cessation of card acquiring services to merchants.
We are looking forward to further growth as we continue to onboard and contract more merchants, and develop further capabilities in wholesale neobanking.
Please do not hesitate to email us at investors@iSignthis.com if you have any queries.
Our EU shareholders may also contact Dr. Reuter Investor Relations , Dr. Eva Reuter on +49 (0) 69 1532 5857 or email email@example.com