SAN ANTONIO, Feb. 8, 2024 /PRNewswire/ -- SWIVEL is excited to announce it is working with J.P. Morgan Payments to improve its offering around direct card processing. The integration is part of SWIVEL's long-term initiative to provide its clients with more robust transaction enablement.
SWIVEL selected J.P. Morgan Payments under their payment facilitator (PayFac) model to process direct card transactions and continue migrating clients from their indirect/referral model. This collaboration solidifies SWIVEL's position as a frontrunner in the industry and aligns its vision to offer top-notch transaction facilitation services.
"We're proud to be working with such a strong bank to continue building an amazing card processing program that better supports our clients and enables additional features," said Jason O'Brien, CEO of SWIVEL.
In 2020, SWIVEL entered the direct card processing space to better serve its clients. The company developed software in 2021 to process card transactions under the independent sales organization (ISO) model. SWIVEL's dedication to providing value-driven solutions reinforces its commitment to fostering solid, long-standing client relationships.
SWIVEL has more than 800 clients and processes $3.5 billion a year in card transactions under the indirect model. J.P. Morgan Payments processes nearly $10 trillion payments daily across 120+ currencies in 160+ countries with a capacity of 7,000 per second, making them the largest transactor in USD payments volume.
SWIVEL Transactions, LLC, is a financial technology and services company providing specialized, integrated transaction enablement solutions that remove friction for account holders, borrowers, and departments across financial institutions, as well as collections agencies and departments, while also mitigating risks associated with moving funds in digital domains. More than 800 financial institutions use SWIVEL's payment solutions across the United States. The company is a wholly owned subsidiary of SWBC, headquartered in San Antonio, Texas. For more information about SWIVEL and its innovative solutions, visit getswivel.io.
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals a wide range of services, including insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages business around the world. No matter how wide its reach, SWBC always listens to its customers' needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC's website at swbc.com.
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