NEWSROOM

iSignthis provides KYC services to bitcoin provider Coinify

Highlights:

  • iSignthis enters global Bitcoin processing market, with more than 125,000 transactions processed globally per day
  • Digital KYC services to be made available on all Coinify payment processing platforms, including a Bitcoin buy and sell platform Trade, from January 2016
  • Immediate access to ~20,000 active users
  • Coinify to now accept cards as payment for bitcoin purchase through acquirer Clearhaus

iSignthis and Coinify

iSignthis announced it has entered into a partner agreement with Europe’s leading digital currency processor, Coinify. Under the agreement, iSignthis’ Digital KYC services, Evidence of Identity (EOI), and Strong Customer Authentication (SCA) services will be made available to all Coinify users from January 2016. Coinify will also be able to take advantage of card acceptance and processing via iSignthis.

Largest digital transaction processor

Coinify is a digital payment platform provider which specialises in extending Bitcoin processing and trading services to merchants and consumers respectively. Notably, Coinify provides a plug-in for popular merchant-facing e-commerce platforms that allow businesses to accept Bitcoin and receive settlement in euros, dollars and more than 30 other currencies. Since commencing operations in 2014, Coinify has rapidly established itself as the largest digital transaction processor in Europe with an estimated active user base of approximately 20,000 merchants and consumers.

New era of security

Christian Visti Larsen, CFO of Coinify said: “Blockchain payments represent a new era of security on global transactions and it is only natural that Coinify implement new standards for compliance that covers this global mindset. iSignthis has a very strong identification process, combined with the transparency of the Blockchain technology and our 3rd party audit to the stringent ISAE 3402 assurance standard, we now have a KYC and Evidence of Identity that outperform the current financial sector. We are very pleased with iSignthis and the fact that we now can open for global card payment is a milestone achievement.“

Accept cards to buy bitcoins

John Karantzis, Managing Director of iSignthis Ltd said “Coinify is the EU market leader, and a global top 5 bitcoin processor. The opportunity for both iSignthis and Coinify is immense, with AML compliance being one of the last barriers towards bitcoin gaining mainstream acceptance. iSignthis will be processing payments and identity directly to Coinify’s acquiring bank Clearhaus, in order to provide an integrated KYC identity, antifraud and transaction management service, allowing Coinify to now accept cards as payment for bitcoin purchase. We are very pleased to be working with Coinify in this exciting space."

About iSignthis Ltd

iSignthis is an intuitive and non-intrusive payment and identification authentication service. Any transaction from any card can be authenticated at checkout to safeguard against online fraud and ensure anti-money laundering regulation compliance. iSignthis’ unique solutions protect online customers whilst providing confidence through AML/CTF KYC compliance solutions for merchants and payment service providers. 

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About Coinify

Coinify drives mainstream adoption of digital currencies, such as Bitcoin, for merchants and consumers. Merchants benefit from Coinify’s Payment Service (PSP), enabling free, instant settlements in a fraud-free and chargeback-free Bitcoin payment environment, while consumers get access to secure, one-click payments that reveal no sensitive information. Coinify is backed by a multi-million dollar capital injection from SEED Capital (funded by the Danish government) and Accelerace, and is the leading digital currency market player in Europe. Company-Bar-CTA-1

Article sourced from Press Release by iSignthis and Coinify, September 30th, 2015

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