Cross River Bank 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.”
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.