News

PayTile and Cross River partner to build a location-based payments platform

Thursday 3 February 2022 15:05 CET | News

US-based commercial banking corporation Cross River Bank and online payment fintech PayTile have joined forces to build a location-based payments platform. 

PayTile is one of the first P2P payment platforms to use geo-location to provide fast, safe, secure, and private financial transactions between users without sharing their personal information with third parties. Through their partnership with Cross River, the latter will provide the necessary core banking infrastructure and payment capabilities.

At the same time, PayTile is launching Money Drop, an in-house new tech that expands the company’s vision further than P2P payments. The tech allows users to digitally place cash or other digital goods at an exact location for users to redeem or drop, without requiring any hardware. 

The company’s mission is to make digital payments as safe and private as possible, without sacrificing personal data or creating too much friction in the process.

More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, P2P, P2P payments, digital payments, online payments, payment processor
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce