Reinvesting In A Future That Nurtures Your Success
Our founder, a hardworking, forward-thinking bricklayer named Dale Dooley had an innovative vision for the future of payments. He believed it should be possible for community financial institutions to process electronic payments quickly, securely and cost-effectively. In 1976, the Iowa Transfer System, Inc. was founded, known today as SHAZAM, Inc.
We understand financial institutions face a future full of rapidly changing technology, shifting consumer behaviors and new waves of industry regulations. SHAZAM can help solve these challenges by providing choices in innovative payment solutions, proactive fraud prevention, security services, a core solution and more — all without compromising quality or reliability. The flexibility we provide helps community financial institutions compete.
SHAZAM Milestones
- Developed the single-message system that continues to be the standard for networks today
- Implemented and operated the first integrated POS pilot program in the world, forever changing the retail industry
- Integrated the PIN at the POS to allow for safe and convenient transactions, as well as making it cost-effective for debit services
- Developed the Card Authorization Service (CAS), allowing financial institutions to issue and authorize cards without relying on competitors
- Partnered with Gasboy® to introduce fuel pump terminals, allowing cardholders to pay at the pump
- Produced the SHAZAM generic card program, allowing clients to issue debit cards at a fraction of the cost
- Partnered with the State of Iowa to pilot the first Electronic Benefit Transfer (EBT) in the country
- Developed the card services-member association, allowing community financial institutions to issue national-brand credit cards
- Created the Privileged StatusTM program, a surcharge-free ATM alliance open to all SHAZAM participants
- Formed ITS bank and serve as a principal member, saving our participants millions of dollars each year
- Acquired Cardinal Software, INC., later becoming ITS, Inc. and being branded today as SHAZAM Core Services, to provide a powerful option for core software
- Developed a mobile app to give cardholders a safe, easy and fast solution for fraud detection and account management
- Served as a founding member of the Debit Network Alliance, which promotes standards for EMV® and the common Application Identifier (AID)
- Established a government relations division to advocate for community financial institutions on payments issues at state and federal levels