ISXPay: Further Australian card acquiring/processing contracts executed

  1. 77.3k

    - ISXPay gains further traction in Australia with customer addition
    - Card Transactions in excess of $52m per annum to be processed, cleared and settled to Merchants
    bank accounts by ISXPay
    - Average Net Margin in excess of 77 basis points
    - Anticipated annualised Gross Profit in excess of $340,000 for card acquiring related
    aspect of the agreements, with scope to grow as volumes increase
    Melbourne, 11th October 2017: Australian Securities Exchange and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX : ISX
    / FRA : TA8), the world leading RegTech for identity verification and payment services, is pleased to announce that it has contracted
    further merchants to ISXPay Australia.
    Card Acquiring: Processing & Settlement Services
    The total card acquiring ‘book’ value is now in excess of $52m per annum of transactions to be processed and settled by ISXPay
    directly to the merchant’s bank account. An average net margin of 0.77% for provision of card acquiring / payment facilitation &
    settlement services is applicable across the total contracted value of $52m.
    Transactional fees charged at a weighted average of 23c/Tx.
    The merchants are a diversified group of online retailers, an ASX listed credit licensee and AFSL holders providing financial services.
    These online merchants all operate in either one or all of high fraud, high risk or AML regulated environments. The Company has
    requested a security deposit of A$150,000 from the latest merchant, with go live date expected upon receipt next week. The
    Company will announce each material merchant as they go live. ISXPay services will typically commence circa 6-8 weeks from
    execution of merchant contract, and contracts are for a minimum of 2 years and evergreen unless terminated.
    The Contracts are expected to deliver a gross profit in excess of $340,000 per annum across the two key revenue silos of
    ‘processing’ and ‘settlement’ identified in Investor Update dated 31st July 2017. The revenue silo of ‘identity and payment
    instrument verification’ cannot be estimated at this point in time against these customers, as aggregated customer metrics are not
    as yet available.
    The Company announced on the 8th August 2016 an agreement with the National Australia Bank (ASX : NAB), whereby daily
    cashflow for card settlement is provided by the NAB at a wholesale rate to the Company. This allows the Company to pursue
    merchants of all sizes, as the NAB agreement ensures that the Company has adequate daily cashflow to effect settlement.
    Patented Antifraud and Identity Verification Technology
    The Company has patents which allow it to prove ownership of a credit card via its Payment Instrument Verification (PIV) services.
    Whilst focus to date has been on PIV as a means for enhanced due diligence to satisfy Know Your Customer (KYC) as part of Anti
    Money Laundering regulations, PIV can also be used as a real time means to reduce card not present fraud. The Company’s
    patents provide a means to capture ‘compelling evidence’, which is a means to reverse chargebacks under the Visa Inc. and
    Mastercard Worldwide operating rules.
    Transactions will be screened by the iSignthis risk engine on behalf of the merchant, and PIV activated by iSignthis, or, by the
    merchant using API calls on a transactional basis. The iSignthis technology and platform is versatile, and can be configured to
    deliver enhanced payment gateway, antifraud, and/or identity verification services on a transaction by transaction basis.

    courtesy of Bell Direct

    ( DYOR )

    i hold ISX 'free-carried

    there MIGHT be a trade in it for the brave

    take care

    1 like
  2. 10.9k

    Sal and so the growth continues-more to come

    1 like
  3. 29.0k

    still no profit?

    1 like
  4. 77.3k

    using EML as a guide in the financial services sector

    making an operating profit seems to be a long and winding road

    ( i bought into EML when it was AAO , a gold explorer , and finally exited in May 2017 )

    yes i recovered my cash ( on EML ) 4 times over but when were the divs likely ???

    i am sitting much prettier here but , goodness , surely there will be a taxable profit soon ( within the next 3 years )

    ( DYOR )

    the only consolation for many is term deposit rates are low so you aren't missing a lot in the bank ( or decent hybrids )

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