Chesapeake Financial Shares Inc. (OTCQX:CPKF) announced the promotion of DJ Seeterlin to president of Chesapeake Payment Systems, a division that provides merchant acquiring services.
Seeterlin, who has been with the bank for 13 years, previously held the position of chief innovation and strategy officer.
Chesapeake Financial Shares CEO Jeff Szyperski emphasized the importance of Seeterlin's leadership in navigating the rapidly evolving payments landscape.
"The confluence of payments and merchant acquiring services is accelerating. DJ's depth of experience in payments and technology will allow us to navigate this confluence for the benefit of our customers," Szyperski said. "It is a great match."
In his new role, Seeterlin will lead Chesapeake Payment Systems in supporting and expanding partnerships with Independent Sales Organizations (ISOs), Payment Facilitators, Processors, Sales Agents, Agent Banks, and businesses across the US.
Seeterlin will assume responsibilities from long-time executive Kate Root, who will transition to a part-time role as Director of Partner Strategy within the division.
"Kate has done a tremendous job in her tenure to build Chesapeake Payment Systems into a highly respected brand within the industry," Seeterlin said. "She developed a strong team that understands the value of our business partners, both locally and nationally. I look forward to continuing this track record of success and driving new payment solutions for our customers."
Root will continue to contribute to the division's success by focusing on high-value partner relationships and identifying new partner opportunities.
Chesapeake Payment Systems, which celebrates its 30th anniversary in 2025, is based at the Chesapeake Tech Center in Norge and serves businesses across the US through its partner sponsorships.