Melbourne, Australia, June 11, 2020 - (ABN Newswire) - iSIgnthis Ltd (ASX:ISX.AX - News) (HAM:TA8.F - News) is pleased to advise that it has met its certification requirements with the Central Bank of Lithuania for SEPA Instant thresholds to be lifted from EUR15,000 per transaction to EUR100,000 per transaction limit, as from 1st July 2020.
- ISXPay(R)'s SEPA Instant now certified for EUR100k transaction limit
- Probanx(R) features SEPA-Instant Instant Notifications (SIIN) as an alternative to cards
SEPA instant is cleared between sender and beneficiary accounts within 15 seconds of confirmed transmission.
The Probanx(R) CORE Banking platform has been enhanced to provide real time notifications via API to our customers CRM's, cashiers, trading platforms or ecommerce carts upon receipt of a SEPA instant payment into an account held with iSignthis. This further enhances the ecosystem comprising Paydentity(TM), ISXPay(R) and Probanx(R).
The SEPA-Instant Instant Notification (SIIN) is a viable alternative to card scheme payments, as it allows merchants to update payment status instantly within their system, upon receipt of funds. Typically, banking systems require reconciliation of transactions via batch updates to CRM's, cashiers, trading platforms or ecommerce carts, as opposed to cards and SIIN which provide real time notifications.
The benefits of SEPA instant include advantages over cards such as instantly cleared and settled funds versus deferred card payment settlement, no chargebacks and reduced fees for merchants.
Customer funds are held at iSignthis settlement account at the Central Bank, which is integrated to SEPA Core credit transfer and offers no value limit per transaction with multiple batch windows per day.
iSignthis Ltd is also pleased to disclose that it has been re-certified to ISO / IEC 27001 Information Security Management System, for management of personal data of its end user customers.
The ISO27001 audit was conducted by BSI, and complements the Company's Payment Card Industry Data Security Standard (PCI DSS) Level 1 accreditation for all major card schemes which was recently recertified in March 2020.
The Company's Probanx(R) core banking systems also comply with APRA CPS234, and the security and open banking requirements of the European Union as required under the Payment Services Directive.
About iSignthis Ltd:
Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (ASX:ISX.AX - News) (FRA:TA8.F - News) 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.
Investor Relations Director
+61 (0) 458 809 177
Civic Financial Communications
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Investor Relations Europe
Dr Eva Reuter
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