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Cross River Bank partners Payment Approved

Source: Cross River Bank

Cross River Bank (“Cross River”), a technology-driven financial services organization that provides core infrastructure and embedded financial solutions, today announced that it has partnered with Payment Approved, a fintech that offers an easy access to end-to-end payment solutions for clients in the Money Service Business (“MSB”) sector, e-commerce businesses, and retailers, to provide businesses with faster and broader payment options that are safe and secure.

“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.”

Cross River provides access to financial services through its comprehensive, API-based platform with robust regulatory compliance and is known for its tech-forward approach. 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, FBO management, and merchant acquiring services to Payment Approved clients.

"We are excited about this partnership and our combined capabilities,” said Jason Montoya, CEO of Payment Approved. “This partnership will create immediate value for our current and future clients through the ‘all-in-one’ financial offerings."

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, MSBs, and retailers, 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.  

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