AUSTIN, Texas & FORT LEE, N.J. & DENVER--(BUSINESS WIRE)--F1 Payments, Cross River Bank (“Cross River”) and RS2 Software today announced their partnership to deliver best-in-class payment processing services throughout North America. F1 Payments will utilize RS2’s global processing platform and Cross River’s sponsorship service to process payments for physical and virtual businesses. Merchants gain access to breakthrough products and services with unique capabilities that drive superior payments, giving them the ability to optimize customer experiences and minimize the time, effort and costs associated with managing their payments.
This partnership expands Cross River’s offerings to include traditional merchant acquiring. The partnership represents a key milestone for RS2 as well, with the company successfully launching F1 Payments as its first merchant acquiring processing partner in the United States.
“Our unique partnership with Cross River and RS2 enables us to provide our merchants state-of-the art payments capabilities that increase business velocity,” said Chad Anselmo, president of F1 Payments. “Collaborating with two great partners during the past year-and-a-half to bring this partnership to fruition has been a tremendous experience. We look forward to helping traditional retail merchants impacted during these unprecedented times with a new processing solution,” added Anselmo.
“We are excited to take a big leap forward in the North American marketplace with F1 Payments and Cross River,” said Daniela Mielke, CEO of RS2 Software North America. “The partnership highlights our efforts to transform the complexity of payments into opportunity, innovation and growth across all touchpoints in the payments ecosphere,” added Mielke.
“Today, more than ever, consumers are in need of increased and efficient payments solutions to succeed in the marketplace,” said Gilles Gade, Founder, President, and CEO of Cross River. “Our partnership with F1 Payments and RS2 delivers just that, empowering merchants across the country,” added Gade.
The first business to benefit from the three-way partnership is San Francisco-based Rye Bar RyeontheRoad.com, a mobile craft cocktail service company.
About F1 Payments
F1 Payments delivers a dynamic and diverse payments technology ecosystem with frictionless connections. We engage stakeholders using H.I.G.H.E.R. core values to provide transparent payments. Our clients and partners enjoy increased velocity by accessing top-notch payments expertise, seamless integrations and highly personal relationships, giving them the freedom to focus on what matters most in business and life. F1 Payments is a registered ISO of Fifth Third Bank, N.A., Cincinnati, Ohio; Wells Fargo Bank, N.A. Walnut Creek, California; and Cross River Bank, Fort Lee, New Jersey. The company is a fast-growing, privately held fintech company headquartered in Austin, Texas. For more information, please visit f1payments.com.
About Cross River
Cross River Bank is a fast-growing financial services organization that merges the established expertise and traditional services of a bank with the forward-thinking offerings of a technology company. Cross River combines a comprehensive suite of products into a unique banking-as-a-platform solution, encompassing lending, payments and risk management. Cross River partners with leading marketplace lenders and technology companies enabling them to focus on their own growth without hindering innovation, while maintaining a strong focus on compliance. In December 2018, Cross River secured $100 million in a funding round led by KKR. This was on top of the $28 million VC funding round in 2016 from Battery Ventures, Andreessen Horowitz, and Ribbit Capital. Founded in 2008, Cross River is a New Jersey state-chartered FDIC insured bank. For more information, please visit Cross River’s website at crossriver.com or on Twitter @crossriverbank.
About RS2 Software PLC
RS2 is one of the world’s most comprehensive and broadly adopted cloud payments platforms. 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. 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. For more information, please visit rs2.com.