The Piermont Bank BlxckPay partnership, announced on October 20, 2026, puts two products at one bank. Employers that run payroll through BlxckPay get full-service business bank accounts at Piermont, and their workers get payroll cards issued by the same bank. BlxckPay works with employers of H-2A and H-2B visa workers across the U.S.–Mexico corridor.
What the partnership covers
The announcement describes two sides of one relationship:
- Employer side. Businesses on BlxckPay can open full-service business accounts at Piermont Bank.
- Worker side. Employees of those businesses receive payroll cards from Piermont.
Wendy Cai-Lee, Piermont’s founder and CEO, said: “With BlxckPay, we are connecting the employer’s business needs with the employee’s payroll needs to solve a broader business challenge.” Luis Vélez is CEO of BlxckPay.
Why it matters for BaaS
In this deal the sponsor bank sits on both sides: it holds the employer’s operating account and issues the workers’ cards. For a fintech, that means one partner bank reviews the employer accounts, the card program and the money moving between them. For the bank, it means a relationship with each employer client that goes beyond card issuing.
The deal also falls under an open enforcement action. The FDIC issued a consent order to Piermont Bank (docket FDIC-23-0038b) on February 27, 2024, and made it public on March 29, 2024. The order requires the bank’s board to give prior written approval before the bank enters new third-party relationships or renews existing ones. Our Piermont Bank profile tracks the order’s status, and the sponsor bank enforcement tracker lists it with other public actions.
For fintechs weighing a bank that operates under an order, our guides on how to read a consent order and sponsor bank due diligence cover what to request, and how to choose a sponsor bank puts it next to other selection criteria.
