Payments

Woodforest National Bank picks Repay for clearing, settlement processing

October 1, 2021

Woodforest National Bank, a 760-branch bank based in 17 states, has selected Repay to act as a clearing and settlement processor. Repay's solution will provide services such as boarding APIs, merchant billing options, online chargeback and dispute processing and next day funding while complying to PCI-DSS, according to a press release.

In addition to the clearing and settlement solution, Repay will also offer high-touch service, a payments engine and reporting software to deliver accurate and speedy transaction processing.

"We're excited to begin working with Repay to optimize our back-channel clearing and settlements and make the overall payment experience easier for our network of banks and merchants across the country," Todd Linden, EVP and head of merchant acquiring, Woodforest National Bank, said in the release. "Repay's high-touch service allows us to customize a clearing and settlement solution that gives us the capabilities we need to better serve our customers and continue to grow and scale our operations."