In a move set to deepen the integration of retail and financial services, Fort Lee-based Cross River Bank announced that its parent company, CRB Group, Inc., has entered into an agreement to acquire Accrue, a pioneer in payment-layer customer loyalty technology.
The acquisition adds sophisticated branded wallet, stored value, and rewards-tracking infrastructure to Cross River’s existing technology stack. By combining forces, Cross River aims to provide its corporate partners with a turnkey solution to deploy custom-branded financial “super apps,” merging traditional payment rails with modern customer engagement.
As commerce shifts increasingly toward digital and agentic channels, industry leaders note that consumer expectations are evolving rapidly. According to Cross River leadership, the line between executing a transaction and earning rewards is disappearing.
“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.”
Accrue has built its reputation on embedding wallets, stored value, and incentives directly into merchant platforms, allowing brands to foster direct connections through customized financial experiences.
Michael Hershfield, founder and CEO of Accrue, echoed this sentiment.
“I started Accrue with the belief that financial products would increasingly live inside the brands and experiences customers use every day… Cross River shares that vision, and with its technology, scale and global reach, we can take it much further,” Hershfield said.
Following the completion of the transaction—which remains subject to customary closing conditions—the Accrue team will transition to Cross River. Michael Hershfield will step into a key leadership role spearheading the expansion of Cross River’s embedded finance ecosystem.
This acquisition positions Cross River to service the next generation of embedded finance, equipping retail brands, fintechs, and global enterprises with the regulatory foundation, real-time banking core, and user-facing wallet technology needed to launch cohesive financial products at scale.
