Digital identity proofing company iSignthis has integrated its KYC service with Chinese e-payment company Yeepay.
The iSignthis integration layers AML/CTF KYC customer due diligence onto the Yeepay service, which in turn provides a compliance solution for merchants located outside of China seeking to transact with Chinese customers. New or existing merchants with a Yeepay account may take advantage of the converged iSignthis ‘paydentity’ service by integrating directly to iSignthis API.
Typical payment applications may include travel, e-commerce or foreign exchange, with iSignthis now ready to commence marketing the service to prospective travel customers.
John Karantiz, iSignthis managing director, said: “The integration with YeePay will open up a multitude of new customers and potential revenue streams for ISX. Chinese online payments have grown rapidly over the past five years and in just the first two months of 2016 online retail sales in China jumped 27 per cent year-on-year to $US98bn.”
