Clarity over what ISX actually do..., page-77

yes correct VbV and Mc SC authenticate the transaction or transfer to ensure being done by the registered card holder in a card not present domain ie online payments and transfers

KYC is the process that the banks use ( passport DL Utility bill MISDN, TFN) often face to face in the bank branch to ensure you are the person who is named on the card to prevent identity theft.

its all part of a system you need both.

To suggest that ISX does KYC better ( differently) than the bank that issues the scheme card is fanciful...as i am sure some others on this forum will suggest.