National Australia Bank (NAB) has signed a payment facilitator program services agreement with Melbourne-based identity proofing technology provider iSignthis.
Under the agreement, NAB will serve as an acquirer for transactions processed by iSignthis on behalf of merchant customers.
In return, iSignthis will provide card acquiring and settlement services for Australia and New Zealand.
Both the companies will take a share of the merchant fee as part of the deal.
The service is expected to be accessed by merchants from early December 2016, after integration between the two companies.
iSignthis managing director John Karantzis said: “This agreement allows us to offer paydentity integrated with card acquiring/settlement services for our merchant customers in Australia and New Zealand.
“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. This agreement compliments the upcoming card acquiring and settlement services to be launched shortly by ISX Pay for the European Union SEPA zone.”
iSignthis already offers a range of solutions for merchant customers such as payment gateway, card vaulting, tokenization services, customer authentication and KYC services.