Earthport partners with Cross River for US inbound payments

Cross-border payment network Earthport announced a partnership with US-based bank Cross River on Thursday, to provide inbound cross-border payment services across the US market, adding to its existing capabilities to process payments in the US.

The AIM-traded firm said Cross River, founded in 2008, is a New Jersey state-chartered FDIC-insured bank.

It said the bank combined technology and innovation with a commitment to industry best practices in regulatory compliance and service, to build “fully compliant and integrated” solutions for the marketplace lending and payment processing arenas.

The partnership would facilitate the execution of inbound ACH payments through Cross River, and further strengthen Earthport's global payment network, enabling high volumes of low-value payments originating outside the US to be serviced more efficiently.

Earthport said the new partnership also aligned with Cross River's commitment to innovation and greater market efficiency.

“Earthport's extensive payment network, along with its commitment to compliance, made the company a natural partner for Cross River,” said Cross River CEO Gilles Gade.

“I'm looking forward to working with an innovator and payment visionary like Hank Uberoi, who has built a world-class service provider that is disrupting the global money transfer industry."

Hank Uberoi, CEO of Earthport, said his company was “delighted” to be working with Cross River to execute payments across the US market.

“We view this as an exciting partnership with a company that embraces innovation, new technologies and market efficiencies,” Uberoi added.

“We are confident that we will be able to further develop and expand this relationship as demand for cross-border payments increases across the US marketplace.”