CANADA | SolidTrust Pay has partnered with iSignthis to obtain evidence of identity and strong customer authentication services for its e-wallet and merchant payment processing services.
SolidTrust Pay was designed so that anyone with an email account can send or receive SolidTrust funds. The company launched in April 2006 and has grown to serve millions of clients worldwide. In addition to providing e-wallet services, SolidTrust provides direct merchant credit card processing accounts for online retailers and businesses.
Satisfying Regulatory Requirements and Preventing Fraud
iSignthis will provide its identity services to SolidTrust Pay, allowing it to remotely on-board domestic and international customers and to assist with satisfying its regulatory requirements.
SolidTrust Pay will also incorporate the Company’s Strong Customer Authentication (SCA) into its European eWallet services, and offer authentication services to its merchants as a risk and fraud mitigation tool.
Frictionless Verification Process
“Integrating with ISignThis will allow us to offer a virtually frictionless verification process to new and existing ewallet account holders globally. Mitigating fraud and ensuring compliance is a top priority for SolidTrust and at the same time, we strive to ensure a smooth client experience; we believe iSignthis will be a great partner to assist us in these goals”. Stella Hiemstra, CEO / SolidTrust Pay.
Live mid June 2015
The agreement is based on a term of 3 years, and includes new customers from anywhere in the world to be identified as they take advantage of SolidTrust Pay’s services, with existing active customers able to be re-identified in accordance with regulatory requirements. The iSignthis service for SolidTrust Pay is due to go live mid June of this year.
About iSignthis Ltd
iSignthis Ltd provides a combined, fully automated, global and remote evidence of identity and transaction authentication solution, assisting clients in adhering to global payment regulations (AML, KYC etc.). Their reach extends to over 200 countries and more than 3Bn persons, coinciding with persons who have access to the internet and electronic payment facilities.
Their target customers include regulated entities such as banks, financial institutions, credit institutions, Payment Service Providers (PSPs), online gaming/wagering operators, stock/commodity/FX brokers, eWallets and cryptocurrency exchanges. For more information visit the iSignthis website.
Sourced from Press Release by iSignthis, 1 May 2015.