Fort Lee-based Cross River Bank announced a new partnership March 22 with U.K.-based Pay.com to create an all-inclusive payments platform for businesses.
The companies say the collaboration offers the chance to use Cross River’s market-leading embedded solutions and customizable API’s to power Pay.com’s international expansion, which will allow businesses and merchants to gain access to streamlined and efficient payment capabilities while driving additional growth opportunities.
It will also enable Pay.com’s current and future merchants to accept multiple payment methods, such as credit and debit cards as well as alternative methods like digital wallets, ACH transfers and more, via Cross River’s one-stop-shop.
“Cross River’s comprehensive compliance, payments and technology infrastructure increases the safety, efficiency and scalability that our partners have come to respect,” said Gilles Gade, founder, president and CEO of Cross River. “Our partnership with Pay.com enables them to scale and reach new markets.”
The companies say that Cross River’s API infrastructure will provide Pay.com the ability to facilitate closed loop embedded financial solutions for merchants and businesses, noting the increased demand for simplified embedded finance systems, especially in fintech.
“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 scale our business and offer merchants access to the latest payment technologies.”
In January, after it was named as a Company to Watch, NJBIZ profiled Cross River Bank, highlighting some of its efforts and partnerships around the Garden State.d