Our Company

As a multi-faceted payment ISO provider, we are dedicated to delivering the latest payments technology to merchants in 5 primary segments: credit/debit card processing, EBT, e-commerce, mobile payments (contactless), and cash advance.

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Our Model

We bring a unique personal touch to merchant services - making it easy for you to get the tools and services you need to manage and grow your business, while never forgetting what makes your business truly unique - YOU.

Our History

As one of the very few African-American owned ISO’s in the credit card industry, 1st Federal Financial Services processes more than $1 billion in transactions for hundreds of satisfied merchants in the Bay Area. 1st Federal Financial Services has a long history of leadership in development and applications of advanced technologies and providing enhanced levels of POS software to all merchant types.

As a multi-faceted payment ISO provider, dedicated to delivering the latest payments technology to merchants in 5 primary segments:  credit/debit card processing, EBT, e-commerce, mobile payments (contactless), and check processing. 

Easy to reach and quick to respond, 1st Federal Financial Services strives to provide a positive relationship with its customers and POS suppliers. Our model is, “making friends is part of our business “ and it is our goal to bring value to your business through our personal quality service, unparalleled strong personal support, and industry competitive rates to ensure a long term business relationship.

Company Milestones

  • Launched McDonald’s US Pilot with HITACHI Corporation (Visa/MasterCard Sponsors) in Chicago, Los Angeles, and the Bay Area to test public acceptance of Touch Screen Bundled Meal Ordering Kiosk Systems with credit/debit card payment options.
  • Wells Fargo Bank / MONDEX : Launched 1st Chip Based “Smart Card” - Stored Monetary Value actually Imbedded and locked in Integrated Circuitry on board the card itself.
  • Launched Financial Literacy program for unbanked and under banked populations to migrate from the cash only economy.
  • First to offer credit card acceptance to Alameda County Park and Recreation Department.

Our Team

Dwain Shaw

Dwain Shaw


Alan Mobley

Alan Mobley


Harold Shaw

Harold Shaw


Dwain Shaw - CEO
Over the past 20 years Dwain Shaw in his role as CEO of 1st Federal Financial Services has expanded the business organically and through strategic business alliances with POS software suppliers. Prior to joining the credit card merchant services, Dwain served as Director of Sales of Horizon Beverage Company (Anheuser Busch Distributor), Sales Marketing Director of Miller brands of the East Bay (Miller Brewing Distributor), as well as Sales Supervisor of Eastbay Beverage Company (Miller Brewing Distributor).

Alan Mobley - CoFounder
Served as a valued part of Veritec’s Technical Consulting and Marketing Team. Mobley, a marketing veteran who developed the first value management touch-screen kiosk, handling MONDEX (Smart Card) stored value, aligned opportunities to grow Veritec’s symbology business. Mobley, who also spent several years as Program Manager in Hewlett Packard’s North American Field Operations focused his marketing efforts on the use of cellular technology in the secure transmission and receipt of monetary value worldwide. “The Veritec 2-D Symbology Tokens”, said Mobley, “are excellent vehicles to securely send and receive value - even for those outside traditional banking circles.” Mobley further stated, “We expect to do a robust and significant volume of business in this space, and I welcome the associated challenges.” Mobley, a Palo Alto, CA, native, pursued his business education at Stanford University and the University of California at Berkeley.

Harold Shaw - Co-Founder
Harold began pioneering his sales efforts in the liquor industry with Heublin, Jose Cuervo and Smirnoff to become one of the first minorities to secure the status of ISO in a credit card processing industry. He produced a series of “firsts” as a Bay Area entrepreneur. He, along with 1st Federal Financial Services has been on the cutting edge of credit card processing since its founding, having had the privilege of starting when the credit card industry was new and just beginning to bloom with merchants.

1st Federal Financial Services was the first to bring the ability to process credit card transactions to Safeway in San Francisco, California. Mr. Shaw was instrumental in bringing credit card transactions to the Bay Area hospitality and restaurant industry by developing partnerships with Stars Restaurant, also in San Francisco, as well as with Alice Waters, the chief chef and owner of Chez Panisse. He also created a test market for the company’s proprietary touchscreen system, the first of its kind, for McDonald’s Restaurant.

Extending beyond the hospitality industry, 1st Federal Financial Services was the first to bring credit and debit card transactions to Alameda Parks and Recreation, the Port of Oakland, and through a relationship with a childhood friend, George Banks, they brought the buying power of Visa and MasterCard to the Post Office in Berkeley, California. One of the Company’s most noted municipal relationships that has been sustained for nearly 20 years is with Alameda County. One of the most unique contributions was a partnership with Disney that involved creating 25,000 relationship cards for the company’s large roster of employees. The card, which Harold collaborated with Disney to create, features Mickey Mouse and is still in use today.