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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  ISignthis Ltd    ISX   AU000000ISX0

ISIGNTHIS LTD

(ISX)
  Report  
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 08/23
1.01 AUD   +1.00%
08/07ISIGNTHIS LTD (ASX : ISX) Visa Inc Australian Principal Membership
AQ
07/30ISIGNTHIS LTD (ASX : ISX) Chief Financial Officer Appointment
AQ
07/29ISIGNTHIS LTD (ASX : ISX) Quarterly Investor Briefing - Q2 H1 2019
AQ
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iSignthis Ltd (ASX:ISX) Visa Inc Australian Principal Membership

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08/07/2019 | 08:59pm EDT

Melbourne, Australia, Aug 8, 2019 - (ABN Newswire) - iSignthis Ltd (ASX:ISX)(HAM:TA8) ("The Company") is pleased to announce that it has entered into an Australian Principal Member licensing agreement with the Asia Pacific Singapore based regional subsidiary of Visa Inc (NYSE:V).

The agreement allows the Company to act as a merchant's card acquiring institution, and process card not present (online/remote) payments and make settlements on behalf of the merchant from cards issued anywhere globally by other Visa Principal or Associate member institutions. The Company generates revenue from its contracted merchants by charging a percentage fee known as the Merchant Discount Rate (MDR) on the sale amount processed on behalf of the merchant.

The overall value of the card processing market in Australia was $748,110,632,702 in 2017 across all card schemes, with the majority of that value being in retail point of sale as card present transactions.

Visa is a global payments technology company that enables fast, secure and reliable electronic payments, with more than 3.3Bn cards worldwide across 200 countries and territories, and capacity to process more than 65,000 transaction messages per second.

Visa's mission is to connect the world through the most innovative, reliable and secure digital payment network that enables individuals, businesses and economies to thrive. In addition to the card issuance and acceptance network, Visa has developed a number of innovations to support new ways to pay.

Principal membership of major card schemes is a complex process, with the Reserve Bank of Australia (RBA) regulating card payments and access by institutions to the major card schemes, including Visa.

Each card scheme must then be licensed individually, which in this case included Visa's assessment criteria requiring the Company to demonstrate the following:

- Fraud and security controls.

- Corporate and ethics governance.

- Sound business practices.

- (Relevant) Business strategy.

- Business continuity.

- Information consistency and security.

- Information conciliation.

- Services availability

The Company is also a Principal Member of Mastercard, ChinaUnionPay, Diners and Discover in Australia, with similar memberships in the European Economic Area (EEA). The Company has commenced its Australian Tier 1 interconnect build out to Visa, Mastercard, Diners and Discover, and has built, owns and operates its own card processing network in the EEA.

John Karantzis, CEO of iSignthis said, "The Company is pleased to extend its principal member relationship with Visa into multiple regions, incuding the EEA and Australia. This agreement also paves the way for iSignthis to expand within the Asia Pacific region in due course, through its relationship with the Visa Singapore regional office."


About iSignthis Ltd:

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(TM) and ISXPay(R) 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 meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.

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

ISXPay(R) 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.

UAB Baltic Banking Service, a wholly owned subsidiary of iSignthis Ltd, provides API based access to SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Central Bank of Lithuania's CENTROLink service.

Contact:

 
For investor information, please contact: 
investors@isignthis.com

EU Investor Relations: 
Dr. Eva Reuter 
E: e.reuter@dr-reuter.eu 
T: +49 (0) 69 1532 5857 

Copyright (C) 2019 ABN Newswire. All rights reserved., source Press Releases English

Stocks mentioned in the article
ChangeLast1st jan.
ISIGNTHIS LTD 1.00% 1.01 End-of-day quote.545.16%
MASTERCARD -0.44% 280.77 Delayed Quote.48.83%
VISA -0.47% 180.09 Delayed Quote.36.49%
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Latest news on ISIGNTHIS LTD
08/07ISIGNTHIS LTD (ASX : ISX) Visa Inc Australian Principal Membership
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07/30ISIGNTHIS LTD (ASX : ISX) Chief Financial Officer Appointment
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07/29ISIGNTHIS LTD (ASX : ISX) Quarterly Investor Briefing - Q2 H1 2019
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07/05ISIGNTHIS LTD (ASX : ISX) Australian License Update
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06/16ISIGNTHIS LTD (ASX : ISX) Paydentity KYC Continues to Drive Applications
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05/20ISIGNTHIS LTD (ASX : ISX) Board Appointment - Dr George Theocharides
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05/16iSignthis Ltd Managing Director's Address to Shareholders
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05/16ISIGNTHIS LTD (ASX : ISX) Withdrawal of Resolution at Annual General Meeting
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05/13ISIGNTHIS LTD (ASX : ISX) Break Even Run Rate Achieved
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05/13iSignthis Ltd Break Even Run Rate Achieved
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Financials (AUD)
Sales 2019 17,2 M
EBIT 2019 3,58 M
Net income 2019 3,58 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 100x
Capi. / Sales2019 63,3x
Capi. / Sales2020 29,1x
Capitalization 1 090 M
Chart ISIGNTHIS LTD
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Technical analysis trends ISIGNTHIS LTD
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 1
Average target price 0,90  AUD
Last Close Price 1,00  AUD
Spread / Highest target -10,00%
Spread / Average Target -10,00%
Spread / Lowest Target -10,00%
EPS Revisions
Managers
NameTitle
Nickolas John Karantzis Chief Executive Officer, Executive Director & MD
Timothy Hart Non-Executive Chairman
Todd Richards Chief Financial Officer & Secretary
Barnaby Egerton-Warburton Non-Executive Director
Scott William Minehane Non-Executive Director
Sector and Competitors
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PALO ALTO NETWORKS INC8.61%19 557
AVAST35.63%4 498