Silverflow and Chesapeake Bank partner to deliver advanced payment processing

Silverflow and Chesapeake Bank partner to deliver advanced payment processing solutions

Payments Innovators Silverflow and long-established community bank Chesapeake Bank have joined to bring the former’s next-generation payment processing to more customers in the US market

Chesapeake x Silverflow Partnership Announcement

Amsterdam, NL – 11 September, 2024: Silverflow, the innovative cloud-native payment processing company, has struck a new partnership with Chesapeake Bank, a community bank renowned for its commitment to embracing innovation in payments. This collaboration aims to provide Chesapeake Bank's ISO clients with a modern, high-performance, and robust payment processing solution.

By leveraging Silverflow’s state-of-the-art processing platform, Chesapeake Bank, through its division, Chesapeake Payment Systems, will significantly enhance its service offerings, adding the capabilities of a more advanced and agile infrastructure. This partnership not only improves the bank's processing capabilities but also positions it as an early adopter of new technology, consistent with its history of embracing innovations such as the RTP real-time payments network.

Chesapeake Bank, known for its technology-savvy approach, will provide the BIN/ICA to be integrated onto Silverflow’s platform. TRX Services, the ISO partner, will handle the actual integration, with Silverflow ensuring a seamless transition and maintaining continuity for their existing BIN sponsorship services.

Scott Martin, CEO of TRX Services, added:

"Our commitment at TRX Services is to provide secure, highly reliable processing while also delivering innovation that empowers our customers to better serve their customers. Partnering with Silverflow continues to be a true win-win for both organizations. Now, with the partnership between Silverflow and Chesapeake Bank, we have even greater opportunities to create new solutions that meet the needs of a dynamic marketplace."

This follows Silverflow’s existing partnership with TRX Services, to help US merchants gain more control of their payments. The deal meant that TRX Service’s current and new clients were provided with more capabilities to enhance the management of customer payments.

The key benefits of the partnership, include:

Modern Processing Solution: Silverflow's advanced, cloud-native architecture offers a more efficient and scalable solution.
Enhanced ISO Services: Chesapeake Bank can now provide its ISO clients with superior processing capabilities, aligning with its commitment to leveraging new technologies for improved functionality.
Shared Vision: Both Silverflow and Chesapeake Bank are dedicated to innovation, efficiency, and exceptional client service, making this partnership a natural fit.

Anne Willem de Vries, CEO and Co-founder of Silverflow, expressed enthusiasm about the partnership, saying:

"Working with Chesapeake Bank, a forward-thinking community bank, allows us to demonstrate the power and flexibility of our modern processing platform. Their dedication to technology and client service aligns perfectly with our values, and together, we can offer a superior processing solution to their ISO clients."

Kate Root, President of Chesapeake Payment Systems, a division of Chesapeake Bank, added:

"Partnering with Silverflow enables us to provide a state-of-the-art processing solution to our ISO clients. 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."

This partnership underscores the commitment of both Silverflow and Chesapeake Bank to drive innovation in payment processing, ensuring that clients benefit from the latest advancements in technology and service efficiency.

It also marks another key milestone for Silverflow, having recently announced that Dagmar van Ravenswaay Claasen was selected as Chairperson of Silverflow’s Supervisory Board, which already includes Barbara Arnst, a seasoned transformation leader, with more than 20 years of experience as a consultant, investor, and executive, as well as Alexander Renzi, managing partner at MAPP Advisors, a fintech advisory firm with clients spanning the payments ecosystem, including networks, card brands, sponsor banks, issuers, acquirers, ISOs, and ISVs.

The rest of the board is made up of the three shareholder-appointed members, including Javier Perez, Founder and managing partner at Global Paytech Ventures, Chase Packard – Partner at Coatue, a lifecycle investment platform focused on turning big ideas into world-shaping technology companies, and Krishna Visvanathan – Co-founder and partner at Crane Venture Partners.

To learn more, visit: https://www.silverflow.com/

About Silverflow

Silverflow is a new kind of payment processing platform designed for today's payment needs and fit for the future. A cloud-native solution with a single API to the card networks. One platform with one connection. Reducing cost and complexity, easy to use, data-rich, Silverflow frees you to innovate.

For more information contact Silverflow: https://www.silverflow.com/

About Chesapeake Bank

Chesapeake Bank, founded in 1900, is a subsidiary of Chesapeake Financials Shares (CFS:CPKF), headquartered in Kilmarnock, Virginia. The company offers merchant acquiring services through its division, Chesapeake Payment Systems, and accounts receivable financing through its division, Flexent. Named by American Banker as one of the Top 100 Community Banks and a Best Bank to Work For, employing 290+. Visit: www.ches.bank.