Ann: ISXPay - Mastercard Principal Membership, page-7

Hi All,

The significance of this announcement is huge. Although it seems like a given to be granted this Mastercard agreement, isx have been working on this for over 6 months.

Pre Mastercard audits mentioned in this 28-2-17 announcement.

http://www.asx.com.au/asxpdf/20170228/pdf/43gdbrfth62q7j.pdf


Having Visa / Mastercard is like oxygen to a business like isx. Without access to these worldwide networks your business wouldn't be able to breath and would perish in todays digital banking environment.


It's also a condition of keeping the eMoney licence granted a few months ago that you must have these card schemes.


Licensed Operations - 04-05-17


Per the requirements of the license, the Company will now move to finalise its Principal Membership commercial arrangements with Visa Inc, Mastercard Worldwide, JCB and other card schemes, as a card acquirer and/or card issuer. These commercial arrangements will be concluded in parallel with the necessary technical integration to each of these card schemes, which integration is expected to take around six months. The technical integration programme of work has already been scoped and agreed, and has been awaiting the necessary issuance of the license prior to commencement.

http://www.asx.com.au/asxpdf/20170405/pdf/43h9yf1qvh7rhb.pdf


So the announcement today is great and further opens the reach isx will now have.

• This agreement further bolsters the Company’s product offerings and payment capabilities. Principal Membership allows iSignthis eMoney Ltd direct access to card acquiring, card issuing and other specialized products, including Mastercard API’s.

Next big milestone will be the Visa Card announcement.


Cheers
Tradealot