Through a strategic partnership with Cross River, a technology-driven financial services organisation that provides core infrastructure and embedded financial solutions, Astra is providing the infrastructure that will enable fintech developers to fund accounts and facilitate deposits via the debit card payment rails.
Financial technology products can choose several payment options when processing account-to-account (A2A) transactions via ACH or traditional card processing services. With this new solution, developers can process a transaction instantly, directly from one debit card onto a second debit card, without the need for settlement accounts or developing reconciliation operations. The solution is also PCI compliant by default. Astra’s secure API integration ensures developers will have limited liability for sensitive card data.
This partnership will add new functionality to Astra’s payments API while increasing the speed of transfers and the accessibility of the debit card system for developers across the United States, all through Cross River’s platform that provides access to the payment rails, core infrastructure, and a compliance framework.
Cross River Bank has contributed to the Open Banking Report 2021. Click here to download the report.
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