Fort Lee-based Cross River Bank partnered with Payment Approved, a fintech that offers an easy access to end-to-end payment solutions for clients in the money service business sector, creating an immediate value for its current and future clients through the “all-in-one” financial offerings, according to a Wednesday announcement.
“The industry is rapidly changing, which brings increased demand for safer and more efficient payment methods,” said Keith Vander Leest, director of payments at Cross River. “With this partnership, businesses can now access one platform to move money in a faster, simpler and responsible way.”
Through this partnership with Payment Approved, Cross River’s payments and technology infrastructure will facilitate the disbursement of funds through its Push-to-Card capabilities on both the Visa and MasterCard networks. Cross River is also the sponsor bank, offering clearing accounts, merchant acquiring services and more to Payment Approved clients.
The comprehensive Payment Approved platform enables clients to send and receive money, process payments, exchange currencies across borders and track all movement through a digital ledger, powered by Cross River.
Payment Approved’s clients include fintech platforms, e-commerce businesses and retailers, among others, and the partnership will further empower these clients to take control of their funds by connecting every payment source through a unified channel in an innovative, safe and secure way.