JetPay, a payment services provider and developer of the JetPay suite of payment transaction processing solutions, and JetPay Merchant Services and JetPay ISO Services registered independent sales organizations, have completed a deal with Susquehanna Bank DV in which Susquehanna will supply bank sponsorship for the JetPay entities.
"JetPay has been growing at a rapid rate over the past few years, and this is requiring us to expand our banking relationships so we continue to flourish. This agreement brings a bank to JetPay that understands the industry and understands the power of the JetPay platform, allowing JetPay to grow without restriction based on capital or industry knowledge. This will be a partnership that will benefit both parties significantly and allow both parties to move rapidly into the next phases of their businesses," said Trent Voigt, CEO of JetPay.
JetPay will be converting a merchant portfolio from another bank to Susquehanna Bank's wholly owned subsidiary, Central Atlantic Merchant Services. JetPay will provide credit card authorizations and settlement as well as ACH check conversion services to Susquehanna.
"When we saw the feature set that JetPay had to offer - the up-to-date technology, the real-time reporting, the agility to enhance products to meet our customer needs now and the service that their staff supplied us from the start - we decided that it was time to add JetPay to our business plan. JetPay's competitive pricing and unique products will allow Central Atlantic Merchant Services the ability to be product and price competitive in the market, which is always a challenge," said David Chester, President of Central Atlantic Merchant Services. "With the market pricing pressures, it is your products and services that distinguish your bank from the rest. JetPay delivered on both of those points, putting Susquehanna and Central Atlantic Merchant Services in a stronger competitive position."