Cross River Bank on Wednesday said it partnered with Pay.com to enhance and expand the U.K.-based firm’s automated payment platform into the U.S. and drive additional growth opportunities.
“Cross River’s comprehensive compliance, payments and technology infrastructure increases the safety, efficiency and scalability that our partners have come to expect,” Gilles Gade, founder, CEO and president of Cross River, said. “Our partnership with Pay.com enables them to scale and reach new markets.”
The partnership enables Pay.com’s current and future merchants to accept multiple payment methods, such as credit and debit cards, as well as alternative payment methods such as digital wallets, ACH transfers and more — all via Cross River’s one-stop-shop.
Cross River’s API infrastructure provides Pay.com the ability to streamline and provide customer-centric payments capabilities, facilitating closed-loop, embedded financial solutions for merchants and businesses.
“Our partnership with Cross River is a testament to our commitment to providing merchants with a comprehensive payment solution,” Assaf Cohen, CEO of Pay.com, said. “With their regulatory infrastructure and expertise in embedded finance, we can scale our business and offer merchants access to the latest payment technologies.”
According to Verified Market Research, fintechs are in need of simplified embedded finance systems that deliver exceptional customer experiences. Cross River and Pay.com have been partners since July 2022. Cross River’s expertise, technology and regulatory infrastructure will help build and scale Pay.com’s business in the U.S., providing increased capabilities for businesses.