Cross River's parent company plans to acquire Accrue, integrating banking infrastructure with merchant wallets

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Cross River's parent company, CRB Group, has agreed to acquire wallet technology company Accrue. The transaction amount was not disclosed and remains subject to customary closing conditions. Cross River currently holds customer funds for Accrue wallets and issues associated Visa debit cards, while Accrue provides interfaces embedded in merchant websites and apps. After the transaction closes, merchants will be able to access wallet, banking, and payment services from a single platform, while consumers will be able to store funds, receive rewards, and keep refunds in brand balances.