A little more detail in the IR release
Good Morning,
I am delighted to announce that iSignthis will be live with JCB shortly, with the Company having been certified by JCB as a Tier 1 connection.
We anticipate an immediate boost to our GPTV of circa $50m pa initially coming onboard in the next few weeks, with up to $300m pa over the next six months.
JCB has over 111m cards on issue globally, and is rapidly increasing its acceptance footprint across EMEA by expanding its merchant acceptance network, with ISXPay® now an acquiring partner.
Many will be familiar with JCB Card as Japan’s dominant card issuer, however, JCB has over the last few years been expanding its issuing reach into the EU, the US, Russia, China, Korea, Philippines, Indonesia and South America.
iSignthis provides an end-to-end customer due diligence and on-boarding service for merchants, with a unified payment and identity service via its Paydentity™ and ISXPay® solutions, offering global reach to any of the world’s 4.2Bn ‘bank verified’ card or account holders.
Our agreement with JCB allows us to accept cards for merchants in all category codes, including the trading/securities/CFD/FX brokers (MCC6211), as well as the cryptocurrency exchanges (MCC6051). The latter is of particular interest, given that bitcoin is accepted as “means of payment that is not a legal currency” in Japan. The addition to the JCB network of our EU based merchants and their bitcoin liquidity pools will create new access opportunities for Japanese JCB card holders, as well as for those outside Japan – with Paydentity™ making the opportunity viable by providing the identity and card not present antifraud solution.
This is a unique proposition that only iSignthis can offer, and many of our merchants (and prospective ones!) have been eagerly looking forward to JCB acceptance with Paydentity™.
A number of our EU based merchants are already contracted with ISXPay® to accept JCB, and we will be pushing the benefits of JCB to our other contracted merchants, as well as to new merchants.
We will be switching JCB acceptance live, progressively over the next few weeks to our existing merchants, and look forward to the growth to our merchants GPTV, and thus our GPTV, that this unique new offering will generate.
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