Bettendorf, Iowa, April 18, 2016 -- TriSource Solutions, LLC, a leading provider of payment processing services to Banks and Independent Sales Organizations announced today that it has signed a long-term agreement with Chesapeake Bank. Under the agreement, Chesapeake will utilize the TriSource proprietary clearing and settlement platform for processing their merchant card transactions. They will also use the TriSource system to support and enhance their current internal underwriting, data entry, customer support and risk functions. Additionally, TriSource will provide transaction settlement services with the Payment Card Brands, merchant billing and funding, reporting services and full service chargeback/dispute processing. Chesapeake will also be providing BIN sponsorship services for other TriSource processing clients.
“TriSource is very excited to begin our relationship with the Chesapeake Bank merchant acquiring team” said Henry Harp, Managing Partner of TriSource Solutions. “We are proud that Chesapeake has reviewed all the options available to them and have chosen us as their service provider. We look forward to completing their conversion over the next several weeks,” stated Harp.
“Chesapeake Bank takes pride in truly owning the process of finding suitable payment solutions for servicing merchants in the bank’s Virginia footprint” said Kate Root, VP/Managing Director of Chesapeake Payment Systems, a division of Chesapeake Bank. “We are very unique to have earned the Card Associations’ memberships and ability to sponsor other merchant payment providers as well. We believe TriSource will be a great partner for us,” stated Root.
About TriSource Solutions TriSource Solutions (www.trisourcesolutions.com), is a leading electronic payments company that provides highly reliable, flexible and economical merchant processing services through a proprietary in-house clearing and settlement platform, delivering exceptional processing services to a wide range of financial institutions, independent sales organizations, agent banks and independent sales agents. TriSource offers a turnkey processing solution and also offers customized solutions based on client need, ranging from processing only, bank sponsorship, front-end authorization services and/or back-end support.
About Chesapeake Bank Chesapeake Bank is headquartered in Kilmarnock, Virginia and operates 13 branches in the Northern Neck, Middle Peninsula, Williamsburg and Richmond region. Founded in 1900, Chesapeake Bank is a full service financial provider with a focus on lending to small businesses and is active in each of the communities it serves. Named in 2015 by American Banker as one of the Top 200 Community Banks and a Best Bank to Work For, Chesapeake Bank employs 196 associates and encourages each one to live according to the Bank’s “It’s All About Community” approach. For more information about Chesapeake Bank, visit chesbank.com .
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Source: Company press release.