As an EEA authorised
iSignthis expects to shortly offer card acquiring services in
iSignthis will own 12.96% of the
iSignthis operates a sophisticated & patented real time anti-money laundering and anti-fraud system that also provides transactional security to business and retail customers. It includes PEP, sanction and law enforcement screening in real time against transactions.
iSignthis' inhouse developed ISXPay(R), PaydentityTM, Probanx(R) CorePlus and CoreConnect platforms allow us to deliver services to customers, with more than 25 other deposit taking institutions relying on our technologies globally.
Services include a DLT based Delivery versus Payment (DvP) platform, integrated with payments and identity verification.
iSignthis eMoney
Subject to Australian licensing, ISXPay(R) to offer Participants custodial and depositary services (ISX.money), and retail End Users, Flykk(R) stored value services.
Agreement provides for ClearPay to make payment to Probanx(R) upon attainment of 13 discrete milestones.
ClearPay to operate and leverage DvP platform for NSXA, as well as for other market operators, subject to commercial agreements and licensing.
ClearPay will provide the necessary platform to enable mass scaling of NSXA and automation, as well as provide distinct advantages to NSXA over the proposed ASX DLT platform.
ClearPay DvP : Objective
Objective : To develop a DvP Platform suitable for the NSXA utilising Java on a Linux based cloud environment, secured to PCI DSS, ISO27001 and APRA CPS234 standards, as well as in compliance with other relevant and appropriate quality standards reasonably agreed by the Developer.
"DvP - The process of clearing and settling a securities or digital asset trade, which includes a number of key steps, including the matching of the terms of the trade, the calculation of the obligations of the counterparties as a consequence of matched trades (clearance), the discharge of those obligations (settlement) through the final transfer of securities (delivery) and the final transfer of funds (payment). "
DvP Platform shall allow for assets to be digitised real world assets such as securities (book entry), futures, CFD's, and fungible digital assets (Stage 1) or non-fungible digital, with NSXA as the central authority.
The DvP Platform shall be an hybrid BIS Model 1 and in future support Model 3, API based, near real time, multilateral (Participant) net, bilateral gross (retail End User), multicurrency, "lit" exchange, with distributed blockchain ledger to allow for credit (contra debit account), Management of Participants and End Users, and real time matching against known End Users.
BIS Model 1: systems that settle transfer instructions for both securities and funds on a trade-by-trade (gross) basis, with final (unconditional) transfer of securities from the seller to the buyer (delivery) occurring at the same time as final transfer of funds from the buyer to the seller (payment);
BIS Model 3: systems that settle transfer instructions for both securities and funds on a net basis, with final transfers of both securities and funds occurring at the end of the processing cycle.
ClearPay DvP : Scope Outline
Implement BIS Model 1 (Stage 1) with contra debit facility or credit facilities for approved participants. At a later post Operation Date stage, implement Stage 2 as prioritised by NSXA or other customers.
Participants and/or End Users deposit funds into an ISX.money and Flykk account respectively Participants may be a required to deposit funds and/or may be offered intraday credit, or both.
DvP Platform will maintain a real time running virtual intraday ledger for each non-retail Participant of i) buy value versus ii) sell value plus deposit value (or preapproved credit limit for wholesale).
Where a Participant is in overdraw, system will not match the buy order until the Participant within their credit (or advance) limit, with each further sell orders positively contributing to their ledger balance, and each buy order negatively contributing to their ledger balance. Multiple bilateral settlements during the day will allow for adjustment of position if intra-settlement credit not extended.
Ledger shall be update in real-time using actual matched trade/order values.
Where a Participant is beyond credit (or advance) limits, orders can in that time be matched by other Participants or queued until the requesting participant is back in the "black" on the virtual ledger.
Net multilateral Participant settlement once per day, to take into account EU trading window (say
Direct retail end users will maintain a positive gross position at all times, per trade.
End Users may use FPS, SEPA Instant and debit cards for instant trading, or, a Flykk balance.
ClearPay Overview & Revenue Generation
ClearPay and NSXA will revenue share 50/50 the following fees charged to Participants and/or End Users:
- Trade matching fee,
- Settlement fee (after deducting cost of ISXPay fees)
- Reporting fees
- Customer Due Diligence Fee (after deducting Paydentity fee)
- Other transactional fees
NSXA shall retain all fees charged to the listed entity and non transactional fees ClearPay shall retain all fees related to integration or setup of Participants.
ClearPay profits may be subject to dividend or retained to fund international growth.
ClearPay Advantages
- Provides a platform for digital and digitised asset exchange, including fractional asset trading
- T+0 DvP facilities, providing end users with same day access to their asset
- Fully lit exchange, eliminating dark-pools and high frequency traders, and mitigating money laundering concerns.
- Multi-currency participant settlements- not restricted to $AUD only. Will also include EUR EUROS at launch, with GBPGBP and $CAD to follow shortly.
- Retail end users may open Participating broker account using PaydentityTM within minutes, and fund via ISXPay(R) SEPA instant, debit card payments, or Flykk account.
- Platform designed for exchanges globally, with industry standard blockchain and open access to participants and share registry services.
- Real time risk management of Participant position with multiple bi-lateral settlements per day, to allow for cash versus credit management of accounts.
- The DvP platform presents ClearPay with global opportunities.
To view the presentation, please visit:
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About
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
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
ISXPay(R) is a principal member of
UAB Baltic Banking Service, a wholly owned subsidiary of
Contact:
Investor Relations
Investor Relations Director
chris.northwood@isignthis.com
+61 (0) 458 809 177
Media Enquiries
Director
mark.hawthorne@civicfinancial.com.au
+61 (0) 418 999 894
Investor Relations Europe
Dr
Friedrich Ebert Anlage 35-37
Tower 185
60327
e.reuter@dr-reuter.eu
+49 (0) 69 1532 5857
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