Two contracts are in excess of USD 20 mln per annum of transactions to be processed by ISXPay, with a gross margin of 0.913% for provision of card acquiring/payment facilitation settlement services. The retail merchants are operating in high fraud retail environments.
iSignthis 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 CNP fraud.
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 can be configured to deliver antifraud, and/or identity verification services on a transaction-by-transaction basis.
iSignthis is a company specialised in online, dynamic verification of identity and financial transactions via regulated e-payment instrument authentication. For more information about iSignthis, please check out a detailed profile in our web fraud & e-identity company database.
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