Back in 2015, there was only the KYC Paydentity side of business which yes, is a strong requirement going forward once regulations tightens up ie AML PSD2 in Euro and the rest of the world should follow suit. The reason i invested in ISX back then was the convenience and quick customer verification that they offer. Imagine if you want to trade/bet on XM.com or sportsbets.com.au and you are require to go to the post office to have your identity verified before you can start betting or trading, that would be a major turn off for most customers. In this new age, we want it fast and we want it now.
Similarly to the Paypal customer authentication but slightly better. Paypal sends a dummy transaction to your bank account and have you verified it on their platform prior to using it even if you don't plan to do any transaction. This will already present a cost to the merchant before the customer make any payment or transasction on Paypal. ISX is a little different where they only do verification if the customer wants to proceed with a payment ie if they want to top up their trading account with credit card for $100, two separate payment of a sum of $100 will be sent to the customer account and those payment value has to be inputted into ISX platform for verification.
Very minimal differences but ISX's verification only takes place when the customer is committed rather than just registering. This is a great selling point for ISX to merchants. Only pay Paydentity if the customer is willing to make a transaction. If they are only window shopping, no cost to merchant.
ISX Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
