Cross River and MassPay Partner to Boost Instant Payment Solutions
Cross River Bank, a technology infrastructure provider known for its embedded financial solutions, and MassPay, a leading payment solutions provider, have joined forces to expand domestic instant payments. This collaboration is poised to benefit industries such as the gig economy, independent contractors, restaurants, hospitality, and marketplaces by simplifying the complexities of acquiring and making real-time payments.
Addressing the Growing Demand for Instant Payments
Jeff Katz, CEO at MassPay, emphasised the significance of this partnership, stating, “Partnering with Cross River to transform instant payments is a significant step for our company, our partners, and our clients.” By integrating Cross River’s advanced API technology with MassPay’s global payout infrastructure, the collaboration aims to fulfil the promise of global real-time payments, offering businesses and their clients faster access to funds and a smoother payment experience.
The rise of independent contractors, gig and creator economies, and online marketplaces has dramatically changed how people work and transact, driving the need for efficient, reliable, and instant payment solutions. Cross River and MassPay are poised to meet this demand by ensuring seamless transactions and enhancing the financial experience for both businesses and individuals. Cross River’s cutting-edge API technology, which allows instant payment routing through a single API, ensures quick and reliable processing through network interoperability and intelligent routing.
Enhancing the Domestic Instant Payment Landscape
Keith Vander Leest, Head of Payments at Cross River, expressed excitement about the partnership, stating, “We are thrilled to work with MassPay to enhance the domestic instant payment landscape.” This collaboration promises to deliver unparalleled value to businesses and individuals operating in the gig and creator economies and marketplaces. The streamlined solution will increase payment options, provide faster access to funds, and reduce waiting times for both acquiring payments and receiving payouts.
Cross River’s robust technology infrastructure guarantees high levels of reliability and security, offering peace of mind to businesses and their customers. The integrated system is designed to scale with business growth, making it an ideal solution for the dynamic gig economy and expanding marketplaces. This strategic expansion marks a significant step forward in the evolution of payment solutions, broadening financial inclusion by enabling more individuals and small businesses to participate fully in the digital economy.
About Cross River and MassPay
Cross River provides technology infrastructure that powers the future of financial services. Leveraging its proprietary real-time banking core, It delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Leading investors back it, and it serves the world’s most essential fintech and technology companies, reshaping global finance and financial inclusion.
MassPay’s Instant Payout Solutions allow businesses to seamlessly integrate and automate real-time payouts for individuals (B2C) and businesses (B2B) worldwide. Payees can choose their preferred payout method, ensuring flexibility and convenience. With a single API, an industry-leading Know Your Business (KYB) process, and a trusted global financial partner network, Instant Payouts can quickly become part of any payment operation.
