Processing Credit and Debit Transactions for Physical and Virtual
Merchants, Now Available in an Integrated Application
FORT LEE, N.J.–(BUSINESS WIRE)–Cross
River Bank (“Cross River”), a leading innovator and provider of
banking services for financial technology companies, today announced
that it has entered into a partnership agreement with RS2
Software, a global payments processing and technology provider.
Together, Cross River and RS2 will provide merchants with a seamless,
global payment experience for processing credit and debit card
transactions, as well as digital banking for their workers and consumers.
“Cross River and RS2 understand that technology innovators demand
regulated, secure payment solutions that address dynamic, ongoing
changes in the marketplace,” said Phil Goldfeder, SVP, Public Affairs at
Cross River. “In today’s global economy, payment needs are fast-evolving
with merchants gravitating towards payment providers who offer broader
multifaceted services in one place. We are confident that our
best-in-class, compliant fintech banking services – combined with RS2’s
industry-leading processing solution– will enable workers and merchants
to succeed in the partner-driven marketplace.”
Under their agreement, Cross River and RS2 will work together to improve
payment processing and enable push and pull transaction capabilities.
The partnership will allow both physical and virtual merchants to
receive settlement funds faster than waiting for traditional settlement
periods. Fintech companies will also benefit from Cross River’s robust
regulatory compliant platform that will enable companies to focus on
innovating beyond legacy systems to create efficient card processing and
banking capabilities and enable users to receive funds faster.
“RS2 embraces the complex elements of payments – multiple channels,
payment types, countries and currencies – and transforms them into
opportunity, growth, and innovation,” said Daniela Mielke, CEO of RS2
Software North America. “Cross River is an ideal, like-minded partner as
they view the transformation of banking as a catalyst for offering
breakthrough products and services, as well as unique payment
capabilities that drive superior payments, thereby allowing businesses
to optimize customer experiences and minimize the time, effort, and
costs associated with managing their payment practices.”
About Cross River
Cross River Bank is a fast-growing financial services organization that
merges the established expertise and traditional services of a bank,
with the forward-thinking offerings of a technology company. They
combine a compliant and comprehensive suite of products into a unique
banking-as-a-platform solution, encompassing lending, payments and risk
management. Cross River partners with leading marketplace lenders and
fintech companies enabling them to focus on their own growth without
hindering innovation. In December 2018, the company secured $100 million
in a funding round led by KKR. This was on top of the $28 million VC
funding round in 2016 from Battery Ventures, Andreessen Horowitz, and
Ribbit Capital. Founded in 2008, Cross River is a New Jersey
state-chartered FDIC insured bank. For more information, please visit
Cross River’s website at www.crossriver.com
or on Twitter @crossriverbank.
About RS2 Software
RS2 is one of the world’s most comprehensive and broadly adopted cloud
payments platform. RS2 supports some of the world’s largest institutions
and processes thousands of transactions per second in every major
currency supporting all aspects of payments. RS2Works, our single global
payment processing platform, reduces the number of intermediaries
required to integrate payments and value-added services into the
merchant’s business, all while enabling the secure and trusted delivery
of payment services. This new approach creates a single solution to
accept or issue payments anywhere in the world. Headquartered in Europe
and Denver, with offices in six countries, RS2 leverages its global
experience to build elegant payment solutions for more than 14 million
merchants.
Contacts
Media Contacts
Cross River
Robert Rendine/Robin Weinberg/Cameron Seligmann
Sard
Verbinnen & Co.
Phone: 212-687-8080
[email protected]
RS2 Software
Marie Rotter
Phone: 303-907-9826
[email protected]
