Over a decade ago, Source, Inc. (Source) entered into a long-term strategic contract with MetaBank® (now a multi-billion-dollar public bank known as "Pathward") to build and operate a registered debit card program that would give unprecedented rewards to debit cardholders, issuers, acquirers and revolutionize the debit card industry.

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In March of 2019, Source formed the International Clearinghouse, Inc. (“ICH”) as a leading-edge centralized loyalty processing platform that facilitates a reciprocal partnership business model and provides Software as a Service (SaaS) solutions and reporting services for payment cards, digital commerce, and loyalty reward programs.

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After nine months of due diligence and negotiations, MetaBank® invested cash and in-kind assets becoming ICH’s first high-profile marquis investor with a position on its Board of Directors.

 

In 2020 & 2021, ICH updated and integrated the legacy platform it inherited from Source and developed a cloud-based technology platform.  The platform hosts a proprietary Revenue Distribution Engine (RDE) that tracks, matches, calculates, fractionalizes, and distributes a percentage of the merchant revenues it processes to applicable participants along with real time or near time transactional reporting and settlement.  In many ways it mirrors the MC/Visa compensation model for merchant acquirers and card issuers.

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In 2021, Source formed WeSave, Inc. as a fresh public-facing, multi-vendor online shopping portal. 

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WeSave then signed a processing license for reciprocal exclusivity with ICH for open-loop loyalty programs and ICH and Source transferred some of their assets and stock to support and add value to WeSave.  Going forward, all merchant revenues collected by WeSave are processed through the RDE and a 10% license fee is paid to ICH and Source for their contributions and services.