Payments technology company iSignthis has signed an Australian Principal Member licensing agreement with the Visa’s Singapore-based regional subsidiary.
The agreement will enable the firm to operate as a merchant’s card acquiring institution process card-not-present (online/remote) payments.
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It will also enable the company to make settlements on behalf of the merchant from cards issued by other Visa Principal or Associate member institutions.
The move is expected to benefit the client-merchants with a faster and integrated payment cycle in more geographic regions.
iSignthis CEO John Karantzis said: “The company is pleased to extend its principal member relationship with Visa into multiple regions, including the EEA and Australia.
“This agreement also paves the way for iSignthis to expand within the Asia Pacific region in due course, through its relationship with the Visa Singapore regional office.”
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By GlobalDataiSignthis is already a Principal Member of Mastercard, UnionPay, Diners and Discover in Australia. It also has similar memberships in the European Economic Area (EEA).
In February this year, iSignthis signed multiple agreements with card schemes and other parties to improve payment processing, clearing and settlement services in Australia.
It signed these agreements on behalf of its Australian subsidiaries trading as ISXPay and includes major card schemes including Visa and Mastercard.
