DALLAS--(BUSINESS WIRE)--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™.”
About SWACHA: For over forty years, SWACHA has been providing nearly 1,000 financial institutions, businesses, and government agency members with superior payments expertise and support. With a staff of accredited payments experts, SWACHA provides high-quality education, products, and services that address the knowledge, risk, and compliance needs of its members to help them keep pace with the fast rate of change occurring in the payments industry. SWACHA is a Regional Payments Association direct member of NACHA - The Electronic Payments Association.
About EastPay: EastPay is a trade association with over forty years of experience providing payments expertise to financial institutions and businesses through the Payments Hotline™, education, publications, compliance support, and risk management. Their expert staff includes nine Accredited ACH Professionals and three National Check Professionals. They are the developers of the ProceduresNow! ACH Policies & Procedures; the AgreementsNow! suite of Cash Management service agreements; the Guide to Establishing ACH Exposure Limits: Sound Business Practices for Managing ACH Credit Risk; and the annual Information Interchange conference. EastPay is a Regional Payments Association direct member of NACHA – The Electronic Payments Association.