SWACHA Services Corporation To Offer Low Cost Electronic Payment Origination Services

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The origination service will allow community banks and credit unions to offer services such as direct deposit, direct payment and financial electronic data interchange transactions, such as state and federal tax payments, child support, and others.

SWACHA Services Corporation (SSC) announced today it has entered into an agreement with SHAZAM to offer low-cost electronic payment origination services to community banks, credit unions and other financial institutions in the electronic payments industry. Dallas-based SWACHA Services Corporation is a for-profit, wholly owned subsidiary of SWACHA, one of the largest not-for-profit regional payments associations in the country.

SWACHA Services Corporation will offer the SHAZAM ACH origination service, a secure, web-based product that will allow financial institutions to offer e-commerce payment systems to companies regardless of their size.

“A number of community banks and credit unions have not been able to offer an electronic payments platform to their retail clients because of the cost of many of these systems,” said Tim Quisenberry, AAP, president, SWACHA Services Corporation. “We are pleased to offer a quality electronic payment service that is affordable and doesn’t require a lot of resources to install and maintain. Going forward, you will see us continue to offer electronic payment services like this to help meet the needs of small- and mid-sized financial institutions.”

The SHAZAM ACH origination service will allow community banks and credit unions to offer services such as:

  •     Direct deposit
  •     Direct payment
  •     Financial electronic data interchange transactions, such as state and federal tax payments, child support, and others

“This service will be a great benefit to those financial institutions that are SWACHA members,” said Dennis Simmons, AAP, SWACHA president and CEO. “For years our members, and others throughout the industry, have asked us to offer a broader range of services to help them continue to have a strong presence in the communities they serve. The services provided by SWACHA Services Corporation can help us do that.”

“For more than thirty years, SHAZAM has focused on providing community financial institutions of all sizes access to quality, cost-effective electronic payment options,” stated Dan Kramer, SHAZAM Senior Vice President of Marketing and Merchant Services. “We are proud to partner with SWACHA and look forward to helping SWACHA members expand the services they offer their retail clients.”

For more information about SWACHA Services Corporation or the SHAZAM ACH origination product, visit http://www.swachaservices.com or call (800) 475-0585.    

About SWACHA Services Corporation
SWACHA Services Corporation (SSC) is a for-profit, wholly owned subsidiary of SWACHA-The Electronic Payments Resource®. SSC provides a wide range of professional services to community banks, credit unions and other financial intuitions in the electronic payments industry outside of those traditionally offered through SWACHA membership.

About SHAZAM
The SHAZAM network was founded in 1976 and is one of the last remaining member-owned and -controlled EFT networks and processors in the industry. SHAZAM, located in Des Moines, Iowa provides EFT services to more than 1,500 community financial institutions in 30 states. SHAZAM offers ATM processing, Visa® debit and Debit MasterCard® national debit products, card authorization services, merchant processing, automated clearing house (ACH) services, and information security solutions. SHAZAM is endorsed by 15 community financial institution trade organizations and bankers' banks. For more information, visit http://www.shazam.net.

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Erin Jamison

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