Cross River and Aeropay Partner to Boost Instant Payouts for Gaming

“We’re proud to partner with innovators like Aeropay, who are solving pain points across verticals and providing real-time and instant access to user funds.”

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, February 7, 2024
Information
Tags: 
Other Professional Services, Data Management, Technology, Finance, Fintech, Banking, Professional Services, Electronic Commerce, Electronic Games, Digital Cash Management, Digital Assets, Other Technology, Casino, Gaming, Payments, Software, Entertainment, RTP, ACH, Partnership, The Clearing House, Cross River Bank, Clearing house, API
Geotags: 
UNITED STATES, NORTH AMERICA, NEW JERSEY, CROSS RIVER
⚠ generated by AI ↴
Organisation: 
CROSS RIVER BANK, CROSS RIVER, AEROPAY
Summary
Key Points: 
  • “We’re proud to partner with innovators like Aeropay, who are solving pain points across verticals and providing real-time and instant access to user funds.”
    With a focus on transaction compliance and state-by-state regulatory approval, Cross River and Aeropay utilize custom API integrations to seamlessly onboard operators and give players access to instant payouts, while providing security through real-time transaction monitoring.
  • Facilitated by Cross River, an early participant in the RTP® network built by The Clearing House, instant payouts allow users instantaneous access to their winnings on the weekends, building player satisfaction and loyalty.
  • "Partnering with forward-thinking institutions like Cross River enables us to deliver more tangible value to users and operators," said Daniel Muller, CEO of Aeropay.
  • One of Cross River’s fastest-growing RTP® providers, since enabling instant payout capabilities, Aeropay has seen a peak of 50% more high-frequency users, signaling the value of instant payouts to Aeropay users.


On the cusp of Sunday’s “Big Game” and the upcoming college basketball tournament season, players in the gaming industry can receive their winnings instantly, thanks to a partnership between Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, and Aeropay, a leading digital payments provider. The partnership marks an expansion of Aeropay’s current offerings.

“Providing 24x7, secure access to funds has become imperative to not only business survival but an improved consumer experience, particularly in the gaming sector,” said Keith Vander Leest, Head of Payments at Cross River. “We’re proud to partner with innovators like Aeropay, who are solving pain points across verticals and providing real-time and instant access to user funds.”

With a focus on transaction compliance and state-by-state regulatory approval, Cross River and Aeropay utilize custom API integrations to seamlessly onboard operators and give players access to instant payouts, while providing security through real-time transaction monitoring. Facilitated by Cross River, an early participant in the RTP® network built by The Clearing House, instant payouts allow users instantaneous access to their winnings on the weekends, building player satisfaction and loyalty. In fact, a recent study found that 79 percent of gamers will opt for instant digital disbursements when offered.

"Partnering with forward-thinking institutions like Cross River enables us to deliver more tangible value to users and operators," said Daniel Muller, CEO of Aeropay. "With RTP enabled, players gain instant access to payouts. Operators benefit by their ability to streamline their payout process and reduce settlement times, resulting in more satisfied customers."

One of Cross River’s fastest-growing RTP® providers, since enabling instant payout capabilities, Aeropay has seen a peak of 50% more high-frequency users, signaling the value of instant payouts to Aeropay users. RTP® payouts are processed in real-time, making funds available immediately — whether it’s a holiday, weekend, or after banking hours — in contrast to traditional ACH payouts that require hours or days to complete.

Cross River’s Operating System and API-based core create a direct, streamlined connection to The Clearing House’s RTP® network to facilitate efficient end-to-end money movement. Learn more about Cross River’s API instant payment capabilities here.

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.

About Aeropay

Aeropay is a financial technology company providing alternative payment solutions to businesses. With Aeropay, businesses can offer compliant, cashless, and contactless digital payments to their customers both in-store and online. Enabled with sophisticated and secure technology, with compliance at the core, Aeropay is the better way to move money. For more information, visit aeropay.com or email [email protected].

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Copyright Business Wire 2024