Trustly and Cross River Bank have expanded their collaboration in instant payments with the addition of the FedNow Service. The development delivers the highly anticipated expansion of an instant payment network to Trustly’s merchants, enabling new capabilities to optimise the routing of funds instantly via Cross River’s singular API endpoint.
Alexandre Gonthier, CEO of Trustly, said: “With Cross River, we are thrilled to pioneer FedNow transactions, marking yet another milestone in our journey to revolutionise account-to-account payments. With FedNow, we continue to advance Open Banking Payments, giving consumers the freedom and option to use their bank accounts as the centres of commerce. We remain committed to driving innovation and shaping the future of Open Banking payments, and the addition of FedNow adds to our rapidly growing network of account-to-account capabilities.”
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Trustly and Cross River have long served in the instant payment industry
As an early participant in the RTP network, Cross River first collaborated with Trustly to provide access to The Clearing House’s RTP network.
The addition of FedNow Service to Trustly’s offerings underscores a vision for providing merchants and consumers wite a positive payment experience. With FedNow, the companies are offering enhanced bank coverage, advancing the accessibility and efficiency of instant payments. Trustly and Cross River have set the standard for excellence in real-time payment processing, while continuing to carry this standard into the future on the FedNow rail.
Gilles Gade, Founder and CEO of Cross River, added: “We are proud to expand our real-time payment services with Trustly, furthering our commitment to advance the adoption and efficiencies of instant payments, empowering businesses and consumers with seamless and instant access to their funds. Together, we have demonstrated that responsible innovation created a paradigm shift through our proprietary network interoperability and singular endpoint.”
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