The agreement with NAB enables iSignthis to use card acquiring services together with its identity, payment processing and authentication solutions. NAB will act as the acquirer for transactions processed by iSignthis on behalf of bank’s merchant customers, with both parties taking a share of the merchant fee.
iSignthis offers end to end solution for merchant customers including payment gateway, card vaulting, tokenization services, strong customer authentication, customer due diligence/KYC and, with this agreement, card acquiring and settlement services for Australia and New Zealand.
Card acquiring services are charged as a flat fee plus a percentage of the transaction sales amount. The iSignthis Gateway, Card Vaulting, Strong Customer Authentication and identity/KYC services are charged in addition, on an as used/per unit basis.
The service is expected to be available to merchants from early December 2016, following integration between the parties.
iSignthis is a company specialised in online, dynamic verification of identity and financial transactions via regulated e-payment instrument authentication.
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