Cross River Partners with Pay.com for Embedded Payments Platform

On March 22, 2023, Cross River Bank and Pay.com announced a partnership to create an all-inclusive payments platform combining Cross River's banking infrastructure with Pay.com's payment technology. The collaboration aims to simplify embedded finance systems for US businesses, enabling seamless payment acceptance and processing. Cross River contributes its regulated banking infrastructure and API-driven financial services, while Pay.com brings its merchant-facing payment platform and user experience.

The partnership is positioned against a backdrop of projected embedded finance market growth to $6.943 trillion by 2030. Financial terms of the partnership were not disclosed. The deal reflects Cross River's continued strategy of powering fintech and platform payment capabilities through its bank charter and technology stack.

For Pay.com, the partnership provides the regulated banking rails needed to scale its US operations and expand its product offering to business customers.