09 Aug iSignthis to use NAB’s card acquiring services
iSignthis, a Melbourne-based fintech service provider specialising in digital identity of financial transactions has entered into a Payment Facilitator Program Service Agreement with National Australia Bank (NAB), according to the company’s press release.
As per the agreement, NAB will act as the acquirer for the transactions processed by iSignthis on behalf of merchant customers. Both the parties will take a share of merchant fees involved. Card acquiring services are charged as a flat fee plus a percentage of the transaction sales amount. iSignthis will be able to use the card acquiring services together with its identity, payment processing and authentication solutions. With this agreement, in addition to providing full end to end solutions for merchant customers in dynamic verification of identity and financial transactions, iSignthis will be able to provide full card acquiring services and settlement services to customers in 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.” said Managing Director of iSignthis, John Karantzis. He believes that the agreement complements the upcoming card acquiring and settlement services to be launched by iSignthis for the European Union SEPA zone.
The service is expected to be available to the merchants later this year in December, after the integration between both the parties.
iSignthis is a global leader in dynamic, digital AML/CTF KYC identity proofing. It uses real time electronic verification to converge remote payment authentication and KYC identification for any of the world’s 3.5 billion financially included persons irrespective of their location. iSignthis also assists merchants with CNP liability shift and provides operators 100% confidence. It is based out in Melbourne, Australia with a European region office in Amsterdam and representatives in the US and Asia.
