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iSignthis Unveils B2B Transactional Banking Service; Partnership with Gobbill

Australian payments and identity solutions provider iSignthis is adding to its offerings by launching a Euro-based, B2B transactional banking service. The company said the service was being provided to serve clients in the small to mid-scale CFD, FX, and gaming industries who are often underserved by traditional retail banks.

The service features:

  • Inbound processing for Visa and Mastercard cards
  • Inbound processing of BPAY and EFT (direct debit) payments
  • Availability of alternative payment options including Trustly and Sofort
  • Support for outbound OCT payments across the Visa network for MCC6211 (Brokers) and Visa and Mastercard for MCC7995 (Gaming/Wagering/Gambling)
  • EMA deposit facilities with SWIFT, SEPA and OCT outbound facilities

iSignthis noted in a press release that the new e-money account (EMA) service is independent from its payment processing business, “but may supplement payment services by Clients.” This includes allowing merchants to keep funds on deposit with iSignthis, and to use those funds to make payments to suppliers and service providers.

Today’s news follows on the heels of the company announcement last week that it was partnering with Gobbill, an AI-based fintech bill payment automation startup. This agreement will enable Gobbill to process card transactions through iSignthis’ iSXPay solution and to use the company’s Paydentity technology to provide global digital identity verification and payment processing.

“Gobbill represents an opportunity for iSignthis to support a prospective leader in bill payment automation, as well as for us to provide a means for them to expand outside of Australia, by providing facilities to them in Europe as they expand,” John Karantzis, CEO of iSignthis, said. “Having witnessed Gobbill emerge over the last three years, we are delighted to be part of their future growth.”

Founded in 2013 and based in Melbourne, Australia, iSignthis demonstrated its cloud-based identity and transaction authentication solution at FinovateEurope 2015. This spring, the company’s subsidiary, iSignthis eMoney, announced a payment aggregation agreement with American Express Australia. Also this year, iSignthis announced that it would expand the scope of its Paydentity service to XM.com to serve as an option for Chinese eKYC. iSignthis finalized its partnership with Worldline to start the year, finishing an integration that will bring ecommerce merchants in Europe access to iSignthis’ ISXPay and Paydentity solutions.