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Payments General

iSignthis launches B2B transaction banking service

Monday 4 June 2018 | 01:22 PM CET

iSignthis, a regtech company for identity verification and transactional banking, has launched a tailored B2B Euro-based transactional banking service.

The company’s ‘active’ transactional banking solutions now include;

  • processing of cards inbound for Visa and Mastercard

  • processing of BPAY & EFT (direct debit) payments inbound

  • a number of Alternative Payment methods such as PoliPayments, Trustly and Sofort.

  • outbound OCT payments across the Visa network for MCC6211 (Brokers) and Visa & Mastercard for

  • MCC7995 (Gaming/Wagering/Gambling)

  • EMA deposit facilities with SWIFT, SEPA and OCT outbound facilities.

The E-Money Accounts (EMA) service is independent of the company’s payment processing services, but may supplement payment services by Clients. The EMA allows merchants to retain funds on deposit with iSignthis, and utilise those funds to make payments to ‘suppliers’ including affiliates, sub affiliates, marketing companies, advertising providers, utilities, service providers, personnel and government agencies.

‘Suppliers’ are AML screened by iSignthis, and a number of payout options are available including SWIFT, SEPA, and Original Credit Transaction to a Visa card. The EMA has been designed to fill a niche requirement for Clients in the AML regulated sector businesses, in particular the small to mid-scale CFD, FX and Gaming industry, where retail banking facilities do not provide reasonable operating solutions.

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