Cross River plans to expand what it offers merchants by acquiring Accrue, a wallet technology company for which it already provides banking services. The deal would combine the bank’s regulated infrastructure with a product that lets consumers store money, receive rewards and make purchases through a merchant’s website or app.CRB Group, the parent of Cross River Bank, has agreed to acquire Accrue for an undisclosed sum. The transaction is subject to customary closing conditions. According to Accrue's programme terms, the bank holds customers' deposited funds and issues the linked Visa debit card. Accrue supplies the interface that merchants embed in their websites and apps. In effect, Cross River is buying the customer-facing layer of a product it already helps run.One Product from Banking to Checkout Customers fund Accrue Balance from a bank account or card and spend it with the participating merchant. The wallet shows rewards and refunds next to deposited funds, so customers can see what they have available at checkout. For merchants, the main draw is keeping the money after a return. A customer can take a refund into the branded balance instead of back to the original payment method, then spend it on another purchase.“Payments and loyalty are becoming one,” said Gilles Gade, Founder and CEO of Cross River. “Every brand wants its own wallet, and with Accrue, all of our clients can now build one on our platform. We never stop innovating, and we are excited to work with Michael Hershfield and his team to help our clients build the financial super apps of the future.”This broader use of stored value grew out of Accrue’s original “save now, buy later” product, launched in 2021. The service helped customers accumulate money for purchases while earning merchant-funded rewards. Accrue has since extended the wallet to handle more of the payment relationship between a merchant and its customers. If the acquisition closes, merchants could obtain the wallet alongside the banking and payment services Cross River already provides. Accrue’s team will join the bank, with founder and CEO Michael Hershfield taking a leadership role in building out that offering.This article was written by Tanya Chepkova at www.financemagnates.com.