Proves Ownership of Cards & Accounts
By dynamically verifying the ownership of a remotely presented payment instrument, iSignthis can provide a basis for EDD KYC compliance and provide acquirers with the card scheme mandated compelling evidence to defend against chargebacks.
Provides EDD KYC Compliance
We provide remote EDD KYC compliance with the 4th AML Directive, the UK’s JMLSG, LCCP, CySEC Directives, Gibraltar and Isle of Man FSC/FSA requirements and gaming codes, the U.S Bank Secrecy Act, Patriot Act, AUSTRAC and other FATF jurisdictions regulations.
iSignthis verifies ownership of all card types from all major card schemes including VISA, MasterCard, Carte-Bancaire, JCB, American Express, China Union Pay, Diners and Discover.
High conversion rates
Perform EDD KYC and pay only for the customers who are willing to engage and pay for your services. Ensure that payments and KYC are aligned to maximise conversions of paying customers.
PaydentityTM is the convergence of payments and identity. Paydentity incorporates payment authentication with enhanced due diligence (EDD) Know Your Customer (KYC) to remotely link a person’s verified identity to an electronic payment, in order to satisfy Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulatory requirements.
How it Works
Our patented Paydentity process is at the heart of every iSignthis solution. The process dynamically creates a one-time ‘secret’ by randomly dividing the sales amount into two partial prepayments. This dynamic one time ‘secret’ is retrievable only by the account holder accessing their secure online or telephone banking account portal. By being able to retrieve this ‘secret’, the customer proves ownership of the account.