Cross River Bank and RS2 enter payment partnership

Cross River Bank, a provider of banking services for financial technology companies, has disclosed that it has entered into a partnership agreement with global payments processing firm RS2 Software.

Together, the two firms aim to provide merchants with a “seamless, global payment experience” for processing credit and debit card transactions.

“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.”

Both companies will also work on enabling push and pull transaction capabilities – as well as digital banking for their workers and consumers.

Cross River stated that fintech companies will also benefit from its regulatory compliant platform – enabling companies to focus on innovation rather than regulation.

“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 optimise customer experiences and minimise the time, effort, and costs associated with managing their payment practices.”