Clearent Adds Chesapeake Bank as Second Sponsor

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Clearent announces that Chesapeake Bank will provide sponsor bank services.

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Chesapeake Bank takes a fresh, common sense approach to the industry like we do, which will help us continue to provide innovative credit card processing services to our customers.

Today Clearent, one of the fastest growing payment processors, announced a partnership with Chesapeake Bank, who will provide sponsor bank services for Clearent. Clearent and Chesapeake Bank will jointly offer unique merchant services programs to Independent Sales Organizations (ISOs) and agents who are looking to grow their portfolios and residual income.

Clearent was attracted to Chesapeake Bank because of its customer-centric approach to credit card processing services. Chesapeake Bank has extensive merchant services experience from running its own merchant services program and sponsoring other providers. This strong track record helped them rank at #16 in the nation and #1 in Virginia on American Banker Magazine’s List of the Top 200 Community Banks in the United States.

Chesapeake Bank was eager to form a relationship with Clearent because of its proprietary processing system that connects directly to Visa, MasterCard, and Discover. Clearent’s technology enables it to offer extremely flexible – yet simple – merchant pricing, true next day funding with a 9:00 Eastern cut off, and detailed statements and residual reports. “We are very selective about sponsoring new partners. With Clearent, we bring a combined offer to the market that is truly unique,” commented Bryan Edmonds, SVP, Managing Director of Merchant Acquiring Services for Chesapeake Bank. “Our differentiated program will be highly attractive to ISOs, agents, and merchants.”

“I’m excited about our new relationship with Chesapeake Bank and how we will help each other continue to outpace industry growth rates,” said Dan Geraty, CEO of Clearent. “Chesapeake Bank takes a fresh, common sense approach to the industry like we do, which will help us continue to provide innovative credit card processing services to our customers.”

About Chesapeake Bank
Chesapeake Bank’s roots in Virginia’s Northern Neck date back to the dawn of the twentieth century. Originally charted as Lancaster National Bank on April 13, 1900, Chesapeake Bank has focused on its community from the very beginning. The bank’s first clients were watermen, farmers, and small business owners.

Today Chesapeake Bank operates retail branches, including an online branch, merchant processing services, and ISO sponsorship through its Chesapeake Payment Systems division, accounts receivable financing through its Cash Flow division, and trust and wealth management services through Chesapeake Investment Group.

Programs like these and other banking initiatives are the engines that have fueled Chesapeake’s growth. To learn more visit or call 757.941.1339.

About Clearent
Clearent is a credit card processing company that was built to be different. We combine leading edge technology with a passion for service to help our customers maximize the value of their merchant services program. Clearent provides sales agents, financial institutions, and merchants with benefits not available from other providers, such as next day funding with a late cut-off time and unrivaled graphical, web-based reporting. The company has grown in excess of 100% for the past four years and now processes over $2.5 billion in annual card volume. To learn more, visit or call 866.205.4721.

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Shannon Kohler
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