The National Australia Bank will partner with digital identity proofing company iSignthis to provide advanced card services to merchant customers in Australia and New Zealand.
The two companies plan to make the service – an integration of NAB's card acquiring services and the identity, payment processing and authentication solutions by iSignthis –available in December. NAB will act as the acquirer for transactions processed by iSignthis. Both will take a share of the merchant fee, iSignthis said in a news release, though further details were not disclosed.
“This agreement allows us to offer paydentity integrated with card acquiring/settlement services for our merchant customers in Australia and New Zealand," John Karantzis, iSignthis managing director, said in the release."
The Paydentity solution handles electronic identity verification in real time to bring Know Your Customer identification to remote payment authentication. iSignthis offers also include solutions for payment gateways, card vaulting, tokenization services, customer authentication and customer due diligence.
"Specifically, our customers and prospective customers in FX, securities, wagering and gaming, will now have the option of a full service provider, from a single integration."
Karantzis also said the initiative compliments a separate soon-to-be-launched card acquiring and settlement services initiative, ISX Pay for the European Union SEPA zone. He did not specify the date of that launch.
NAB also recently participated in a trail of Visa's new open payments technology strategy.