SHAZAM

SHAZAM pioneered the PIN-debit point-of-sale transaction, still used worldwide today. We’re the only nationwide independent, member-owned debit network, processor and core provider supporting community banks.

What Makes SHAZAM Different?
First, is our ownership. SHAZAM’s owned by our clients who can apply to become members, and most do. Our members then have a vote and voice in the direction of our company.

Then, our unique structure. We’re structured as a nonprofit corporation. This isn’t nonprofit in the traditional sense because we definitely work to earn a profit. It’s what we do with our profits that’s unique. Since we don’t answer to shareholders, we can reinvest those dollars in new technology while keeping costs down to benefit our clients.

Our advocacy sets us apart. SHAZAM makes it our business to be a vocal advocate for community banks. We represent you in the payments industry, on Capitol Hill, at regulatory agencies like the FTC (Federal Trade Commission) and the Fed, on national payments boards, and through other committees where it’s important your voice is heard. Community banks must have a voice in the future of the nation’s payments system.

Finally, our pricing philosophy. Because we don’t answer to shareholders, SHAZAM’s standard pricing approach is to aim for the highest net program profitability for the community banks we serve. We think carefully before passing fees to our clients, and at times make the strategic decision not to charge fees. This difference alone saves our clients tens of thousands of dollars over the life of an agreement.

• We’ve had line-item price increases from time to time, but we’ve NEVER implemented an across-the-board price increase.
• Technology advancements may call for an occasional price increase, however, we work diligently to keep pricing stable and consistent so clients know what to expect.
• SHAZAM owns our own software, making us both a processor and a network. Unlike others in the industry, we don’t charge a separate processing (authorization) fee and network issuer switch fee when single-message transactions are routed by merchants through the SHAZAM Network.
• Our clients earn greater net interchange income. SHAZAM establishes and uses interchange rates unique by global brand on the card. These unique interchange structures are designed to earn the highest net interchange in the industry based on the combination of networks on the card and the way merchants route transactions. For new clients SHAZAM added in 2020, we increased their combined net income more than $10 million over their current providers for the life of their contracts!
• SHAZAM doesn’t charge fees related to EMV — no transaction fees, setup fees, testing/certification fees, one-time or ongoing ATM fees for EMV.

Founded in 1976 and headquartered in Iowa, we’re a leader in payments and financial technology, with a simple mission: Strengthening community financial institutions. Visit us today at shazam.net.