Cross River, Stripe partnership targets marketplace economy
Cross River, a leading provider of banking services for fintech companies, today announced a partnership with Stripe to help those in the marketplace economy—such as workers in ride sharing, food delivery, and other freelance occupations real-time access to earnings using push-to-card payments.
The API-first, integrated platform will improve the way ridesharing, food delivery and independent freelance professionals are paid, pushing earnings to workers in real time whenever needed and helping them better manage their day-to-day cash needs.
“Cross River’s partnership with Stripe will fundamentally improve how and when freelancers receive their compensation,” said Gilles Gade, founder, president and CEO of Cross River. “By combining our established, fully-compliant banking network with Stripe’s renowned payments platform, we are enabling financial inclusion for this essential workforce by offering them quicker access to their money and more optionality in how they would like to receive it.”
This partnership brings the latest disruptive technology to the emerging payment ecosystem, while ensuring regulatory compliance and consumer protection. Cross River’s innovative banking approach aligns with Stripe’s mission to grow the GDP of the internet by adding technological muscle built on a regulatory foundation. Together, Cross River and Stripe are providing innovative ways for technology companies to move money and provide easier access to cash.
Cross River is a fintech bank that delivers advanced financial and compliance products & services to the fintech industry. Its proprietary BaaP technology renders dated legacy systems obsolete and enables its fintech partners to seamlessly plug into its APIs, access critical regulatory and compliance services and in turn, empower their consumer customers with turnkey banking services and access to critical capital through marketplace lending.
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