News and resources on payments systems, innovations and initiatives worldwide.

ISignthis JCB card acquiring service live

Source: iSignthis

ISignthis Ltd (“the Company”) is pleased to announce that its JCB card acquiring service is now operationally live, with our first two (2) merchants accepting JCB cards commencing transactions imminently.

The Company anticipates several more previously contracted merchants to be connected to the service within coming weeks.

The resolution of our banking settlement supply chain issue last week now also enables the Company’s ISXPay® service to settle and clear funds to European Economic Area (EEA) based merchants across not only the Tier 1 JCB connection, but also for our Tier 2 partner networks for Visa and Mastercard.

JCB is a multicurrency service, with acceptance and settlement in the following currencies: JPY¥, USD$, HKD$, EUR€, GBP£, AUD$, CAD$, DKK, and CHF. JCB represents an opportunity for EEA based merchants to access customers located outside the EEA, in particular cardholders in Russia, Brazil and Asia Pacific, including China, Hong Kong, Indonesia, and Vietnam.

The Company’s merchants may accept almost all other global currencies and are able to request ISXPay® to settle in either USD$ or EUR€, providing flexibility and foreign exchange currency advantages for our merchants.

Settlements are funded by the card schemes to our settlement banking partner, usually next business day (T+1), whereupon ISXPay® then settles its merchants.

The Company is remains on target for completing certification for its EEA Tier 1 connections to Visa and Mastercard within the next few weeks, as previously announced on the 30th August 2018. The Company will provide processing, clearing and settlement services to its merchants via its Tier 2 partners in the meantime.

Merchant Gross Processed Turnover Volume (GPTV) will be updated once the Company has at least 4-6 weeks of transactional history across a number of merchants at Tier 1 connectivity.

Tier 1 connectivity will allow the Company to independently manage its merchants on its ISXPay® network, without the present capacity and throughput limitations imposed by third party Tier 2 networking partners. 

Comments: (0)