Helping the Real Estate Industry Step Up its Payments Game

Human beings have proven themselves to be good at many different things, and yet there is little we do better than growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, has officially announced a partnership with paymints.io modernize the payment infrastructure across the real estate industry. According to certain reports, the by-product of this collaboration will be represented, at least for now, by two particular payment rails i.e. ACH (including same day ACH), and wires. Leveraging the stated mediums, the partnership will provide stakeholders involved in real estate transactions, including buyers, sellers, agents, and escrow holders, with a platform which won’t just facilitate a swift movement of all your funds, but it will also ensure complete transparency throughout the relevant steps. This transparency, on a more granular level, will be delivered through an option to track funds in real-time, verify transactions, and effectively secure your money. Beyond enhancing knowhow about the status of your transactions, the newly-announced platform will also allow you to streamline your payments from the get-go, while simultaneously bringing expanded payment options into the fold.

“As a leader in modernizing payments, we are thrilled to join forces with paymints.io to transform the real estate payment landscape,” said Keith Vander Leest, Head of Payments at Cross River Bank. “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. It’s niche B2B verticals, like real estate, that have outdated payment processes which are ripe for innovation.”

Founded in 2008, Cross River Bank has risen to prominence on the back of its proprietary real-time banking core system, which helps the company conceive innovative and scalable embedded payments, cards, and lending solutions. Another equally impressive feature here would be how Cross River is able to provide these capabilities to businesses of every size and nature.

Moving on to paymints.io and why it was such an ideal partner for the effort, the answer talks to the company’s vast experience within the stated sector. You see, paymints.io is actually best known for scaling up payments across the real estate sector itself, achieving the promised value proposition by offering solutions like earnest money deposit, cash to close, and client and vendor disbursements etc. The company’s excellence in what it does can inferred from its esteemed clientele, along with a fact that it secured, in 2022, HousingWire’s Tech100 Real Estate Award for the second consecutive year. The following year, Paymints.io also grabbed a spot on the Electronic Transaction Association Top 10 Payments ISV.

“The innovation of digital payments for real estate is still at the early stages,” said Jason Doshi, CEO of paymints.io. “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.”