By leveraging Cross River’s API technology, the paymints.io platform will enable buyers, sellers, agents and escrow holders to move money swiftly and in line with their preferences.
The updated payment solution will provide streamlined payments, expanded payment options and enhanced visibility. Platform users will be able to track funds in real time and verify transactions.
In addition, the paymints.io solution will seek to eliminate paper checks and reduce fraud for partners and customers.
Keith Vander Leest, head of Payments at Cross River, welcomed the collaboration with paymints.
“As a leader in modernizing payments, we are thrilled to join forces with paymints.io to transform the real estate payment landscape”, Vander Leest said. “By combining our expertise in payments, compliance, and financial technology, with the paymints.io team’s deep expertise in real estate, property and title insurance, we are advancing the way funds are handled in real estate transactions and ensuring a seamless and secure experience for all parties involved.”
Cross River Bank provides tech infrastructure solutions such as embedded payments, cards and lending options to consumers and businesses.
In March 2022, the CRB Group, which owns Cross River Bank, raised $620m in a funding round led by Eldridge and Andreessen Horowitz.
Paymints.io is a venture-backed SOC 2 Type II digital payments solution. Its CEO, Jason Doshi, also welcomed the new partnership with Cross River.
“The innovation of digital payments for real estate is still in the early stages”, Doshi said. “And our partnership with Cross River enables us to continue to build the modern payment experience the real estate industry so desperately needs to make the transfer of funds as safe, convenient, and secure as possible.”