Ann: ISXPay EEA Card Processing Update, page-125

Hi @THGH

I had this clarified.

The 100 agreements for regulated services since October is not 100 individual merchants for card processing/settlement in EU or company wide.

It is inclusive of all variety of regulated services so:

- New card processing/aquiring/settlement agreements. We know of the 12 recent applications and 3 executions in AU. Unclear if the 12 have progressed to agreements. I would think Paydentity would be part of this and not count as an extra agreement.

- Each new EMA account agreement (Most recent announcement mentions 50. There were 25 mentioned in October so unclear if the 100 is inclusive of that original 25).

- Each new customer of Probanx/BBS.

So still good traction and growth but not quite as good as if you took it to be 100 merchants. IE one merchant may have a number of agreements in the 100 figure. IE multiple EMA accounts.

IMO not saying it was intentional, but the reference to the 100 was ambiguous. Especially given towards the end of the ANN it mentioned that ANN was only a snapshot of the EU card processing.

The rest of the ANN was EU card processing but the 100 reference was not, it was company wide.



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