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Online Payments

Stripe, Cross River to provide capital in the marketplace economy

Thursday 10 January 2019 | 08:11 AM CET

Cross River has teamed up with Stripe to offer real-time access to earnings using push-to-card payments in the marketplace economy.

The API-first, integrated platform aims to streamline the process through which independent freelancers and other professionals are paid by helping them manage their day-to-day cash needs.

By combining Cross River‘s banking network with Stripe’s payments platform, the two companies are enabling financial inclusion for the workforce by offering them access to their money and more optionality in how they would like to receive it.

In addition, this partnership aims to bring disruptive technologies to the emerging payment ecosystem, while ensuring regulatory compliance and consumer protection.

Earlier in December 2018, Cross River secured USD 100 million in a funding round led by KKR. The new funding will be used by the company to continue to invest in compliance infrastructure. The FDIC insured bank also secured USD 28 million VC funding in 2016 from Battery Ventures, Andreessen Horowitz and Ribbit Capital.

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