Chesapeake Financial Shares Inc. (OTCQX:CPKF) subsidiary Chesapeake Bank announced that it has entered a new partnership with Silverflow, a cutting-edge cloud-native payment processing company.
This collaboration aims to bring Silverflow’s next-generation payment processing technology to Chesapeake Bank’s customers, expanding the bank’s service offerings in the rapidly evolving US payments market.
Through its division, Chesapeake Payment Systems, the bank will now offer its Independent Sales Organization (ISO) clients access to Silverflow’s state-of-the-art processing platform.
This system provides a faster, more agile infrastructure, allowing Chesapeake Bank to enhance its current payment processing capabilities.
The bank has a reputation for embracing new technologies, including its previous adoption of the RTP real-time payments network.
The partnership will integrate Chesapeake Bank’s BIN/ICA with Silverflow’s platform, while TRX Services, a partner ISO, will manage the technical integration.
Silverflow will ensure a smooth transition, preserving existing services for clients currently relying on Chesapeake’s BIN sponsorship.
Kate Root, Chesapeake Bank’s President of Chesapeake Payment Systems, expressed excitement about the collaboration.
"Partnering with Silverflow enables us to provide a state-of-the-art processing solution to our ISO clients,” Root said in a statement.
“Silverflow's innovative approach and commitment to technology make them an ideal partner as we continue to embrace new solutions to serve our clients better.”