SWACHA and EastPay announced today that their respective Boards of Directors have approved a merger agreement under which the two Regional Payments Associations (RPAs) will combine to form ePayResources, effective August 1, 2016.
Additionally, SWACHA Services Corporation and EastPay Advisory Services, their respective wholly-owned subsidiaries, will also merge under the name ePayAdvisors™.
“This merger of two very strong RPAs will provide a broader range of services that industry stakeholders must have to be competitive in the payments arena,” said Laura Steele, AAP, President & CEO of SWACHA. Norman Robinson, AAP, CTP, EastPay’s President & CEO, added, “We are delighted that our strategic directions and corporate cultures are very closely aligned. Both companies recognize that more resources are needed to achieve their aggressive member service goals, and this merger is the right solution.”
Robinson will be retiring at the end of 2016. Steele will serve as President & CEO of ePayResources™. Pamela T. Rodriguez, AAP, CIA, CISA, currently President & CEO of EastPay Advisory Services, will serve as President & CEO of ePayAdvisors™, reporting to Steele.
Steele noted, “This merger has the full support of both SWACHA’s and EastPay’s Boards of Directors. Final approval is pending a vote of the SWACHA membership in accordance with our bylaws. This vote will be finalized by mid-July and is expected to have the membership’s full support.” She also stated, “SWACHA and EastPay are very proud of each RPA’s past, and we are equally passionate about our future as ePayResources™ and ePayAdvisors™.”