Following the agreement, as of Q1 2015, merchants on the eMerchantPay payment network will gain access to a payment processing platform integrated with both of iSignthis’ Strong Customer Authentication service and its EOI identification service.
Strong Customer Authentication eliminates payment fraud and enables transactions, whilst providing liability shift. The Strong Customer Authentication service is based upon iSignthis’ patented EOI authentication process, which enables merchants anywhere on the eMerchantPay payment network to identify their customers to meet Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
According to data from Javelin Strategy & Research, in 2012, Card-Not-Present fraud was in excess of EUR 798 million in the SEPA region (ECB- A renewed focus on cards), whilst identity theft costs businesses USD 21 billion annually.
eMerchantPay provides payment processing in multiple local payment methods with online payment processing and settlement available in over 40 worldwide currencies.
iSignthis is a provider of payment authentication and e-identity solutions. iSignthis patent applications are pending/granted in Africa, Australia, Asia, Americas, Europe and Oceania.
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