Cross River Bank partners paymints.io for real estate transaction platform
New Jersey-based Cross River Bank has forged a strategic partnership with paymints.io, a Software-as-a-Service (SaaS) platform for real estate payment transactions.
Stakeholders involved in real estate transactions, such as buyers, sellers, agents and escrow holders, can now move money “swiftly”, access expanded payment options, track funds in real-time and verify transactions.
Leveraging Cross River’s API functionality and initially launched with two payment rails, ACH (including same day ACH), and wires, the partnership gives real estate stakeholders transparency and security across the entire payment process, doing away with paper cheques and reducing fraud.
Additional payment capabilities will be added in the future allowing for access to all payment rails within a single platform.
Paymints.io CEO Jason Doshi says the 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”.
Cross River head of payments Keith Vander Leest says: “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.”