Cross River and Plaid Partner for Multi-Rail Real-Time Bank Payments

Cross River and Plaid announced a partnership to deliver faster, multi-rail bank payment solutions enabling real-time payouts. The collaboration leverages Cross River's proprietary API-based core banking platform to support payments across ACH, RTP®, and the newly launched FedNow® Service. Cross River contributes its BaaS infrastructure and direct bank connectivity, while Plaid brings its extensive fintech network and data connectivity layer.

The partnership allows fintechs and platforms to offer their end users faster access to funds through multiple payment rails. By supporting all major U.S. payment rails through a single integration, the solution simplifies real-time payment adoption for fintechs. The timing aligns with the launch of FedNow, positioning both companies at the forefront of modernized U.S. payment infrastructure.

Financial terms of the partnership were not disclosed.