The alliance between Cross River and Pay.com will help Pay.com expand its automated payment platform into the US and drive additional growth opportunities.
Pay.com’s current and future merchants and businesses will be able to accept multiple payment methods, such as credit and debit cards, or alternative payment methods like digital wallets, ACH transfers and more via Cross River’s API infrastructure.
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Gilles Gade, founder and CEO of Cross River, commented: “Cross River’s comprehensive compliance, payments and technology infrastructure increases the safety, efficiency and scalability that our partners have come to expect
“Our partnership with Pay.com enables them to scale and reach new markets”, Gade continued.
The bank was founded after the 2008 financial crisis and has since partnered with several fintechs. Its first collaboration was with the POS lender GreenSky to provide loans outside of New Jersey, while later ones involved work with various payment solutions providers.
In March 2022, Cross River raised $620m in financing to fund its technology-focused growth strategy and advance the firm’s embedded payments, cards, crypto and lending solutions.
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By GlobalData“Our partnership with Cross River is a testament to our commitment to providing merchants with a comprehensive payment solution”, said Assaf Cohen, CEO of Pay.com. “With their regulatory infrastructure and expertise in embedded finance, we can scale our business and offer merchants access to the latest payment technologies”, he continued.
