Cross River, paymints.io partner to modernize real estate transactions

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Fort Lee-based Cross River Bank this week announced a strategic partnership with paymints.io aimed at modernizing real estate transactions with a secure payment infrastructure.

The effort, which leverages Cross River’s API technology with the paymints.io’s Software-as-a-Service (SaaS) platform for real estate transactions, is initially launching with two payment rails: ACH (including same day ACH) and wires.

According to the partners, it will provide stakeholders involved in real estate transactions with a payment platform that enables them to move money swiftly, conveniently and in line with individual preferences.

The companies say the collaboration marks a significant milestone in transforming the way stakeholders in real estate transactions – including buyers, sellers, agents and escrow holders – handle and control their funds, giving them unprecedented transparency and security to the entire payment process. At all touch points, the partnership offers streamlined payments, expanded payment options and enhanced visibility while providing the ability to track funds in real-time and verify transactions, which allows for security and trust throughout the course of a deal.

“As a leader in modernizing payments, we are thrilled to join forces with paymints.io to transform the real estate payment landscape,” said Keith Vander Leest, head of payments at Cross River. “By combining our expertise in payments, compliance, and financial technology, with the paymints.io team’s deep expertise in real estate, property and title insurance, we are advancing the way funds are handled in real estate transactions and ensuring a seamless and secure experience for all parties involved.

“It’s niche B2B verticals, like real estate, that have outdated payment processes which are ripe for innovation,” he continued. “These verticals are where Cross River works with partners, like paymints.io, to drive better, more efficient payment experiences.”

“The innovation of digital payments for real estate is still at the early stages,” said paymints.io CEO Jason Doshi. “And our partnership with Cross River enables us to continue to build the modern payment experience the real estate industry so desperately needs to make the transfer of funds as safe, convenient, and secure as possible.”

In the future, the companies say they look forward to adding additional payment capabilities for access to all payment rails within a single platform.