National Australia Bank (NAB) has entered into an agreement with digital KYC firm iSignthis to provide full card acquiring and settlement services to the latter’s merchant customers in Australia and New Zealand.
Through the deal, iSignthis will be able to offer 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 merchant customers, with both parties taking a share of the merchant fee.
iSignthis offers an end-to-end solution for merchant customers including payment gateway, card vaulting, tokenisation, customer authentication and KYC services, as well as the new card acquiring and settlement facilities.
John Karantzis, managing director of iSignthis, said: “This agreement allows us to offer paydentity integrated with card acquiring/settlement services for our merchant customers in Australia and New Zealand. Specifically, our customers and prospective customers in FX, securities, wagering and gaming will now have the option of a full service provider, from a single integration.”
The service is expected to be available to merchants from December 2016.
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