Brightwell Teams with Visa to Expand ReadyRemit’s International Real-Time Payment Capabilities for Customers
- 28.03.2023 03:35 pm
Global payments technology company, Brightwell, today announced that it is making it easier for fintechs, money transmitters, and prepaid and banking providers to integrate real-time payment technology into their solutions utilizing ReadyRemit via Visa Direct. Through this collaboration, Brightwell customers can launch a fully managed cross-border payments program that includes compliance, tier two support and pricing management into their offerings. With the addition of Visa Direct’s global push to card functionality, the ReadyRemit platform now has the global reach to eligible debit and prepaid cards, providing more choices and options for global payouts in the market for different use cases, including capital disbursements, cross-border payments, account transfers, peer-to-peer, and more to over 3 billion eligible cards globally.
Following the onset of the pandemic, the global payments industry has demonstrated resilience. In fact, McKinsey’s five-year revenue outlook on the sector now exceeds pre-pandemic expectations, topping $3 trillion by 20263. Brightwell is helping overcome the challenges of offering a near real-time payments program as fintechs and payment providers looking to modernize their current infrastructure and enter new markets. ReadyRemit, Brightwell’s comprehensive remittance engine enables businesses to easily and quickly integrate cross-border transactions via APIs or SDKs. The program also comes with a compliance-as-a-service offering including KYC, OFAC, AML/BSA and transaction monitoring to name a few.
“Since Brightwell’s inception, we’ve been passionate about helping people and businesses send money securely around the world,” said Larry Hipp, CEO of Brightwell. “Not only are we creating products that are simple to use, easy to integrate with and achieve measurable results, but we’re offering our customers options, too. By adding Visa Direct to the list of international payment providers powering ReadyRemit, our customers can choose the best option that addresses their needs.”
“Visa is committed to helping spur innovation in cross-border money movement,” said Yanilsa Gonzalez-Ore, SVP, North America Head of Visa Direct. “By embedding Visa Direct in Brightwell’s ReadyRemit platform, we are excited to expand cross-border remittance and payout capabilities for Brightwell’s customers across a variety of industries, such as travel and financial services.”
Since introducing ReadyRemit to the market last year, Brightwell is helping organizations like Dash Solutions, Virgin Voyages and inCruises move funds in over 175 countries. Powered by The Bancorp Bank, N.A. and Brightwell’s international payment partners, ReadyRemit enables businesses to quickly launch a global payment program to drive customer loyalty and capitalize on a new revenue stream.