2024 in review: charting Brightwell’s success and future in global payments

As we look ahead to 2025, we’re reflecting on a transformative year at Brightwell marked by strategic growth, innovative solutions, and industry recognition. From expanding our team to launching new products, 2024 reinforced our mission to simplify cross-border payments for businesses worldwide.

Product news and company growth

One of the highlights of 2024 was the launch of Latitude by Brightwell, a solution designed for corporate disbursements and other business payments. Evolving from ReadyRemit by Brightwell, our P2P cross-border payments solution, Latitude was developed to address the growing needs of our clients. Named the 2024 Best Business Payments System by the PayTech USA Awards, Latitude delivers secure digital B2C payouts that help businesses reduce costs, streamline operations, and enhance customer satisfaction. Having already made strides in the travel and hospitality industry, we’re excited to expand its reach to new verticals in 2025.    

Meanwhile, ReadyRemit, which debuted in 2023, has enabled financial institutions (FIs) and fintechs to offer white-label cross-border remittances to their customers. In November, we completed an integration with Q2’s Digital Banking platform, via the Q2 Partner Accelerator program. Banks and credit unions can now implement ReadyRemit faster than ever, accelerating their ability to deliver seamless cross-border payment services inside their existing platforms.

We also announced our Visa Direct partnership, with Brightwell being the first Visa-enablement platform provider in North America to offer all cross-border payment modalities enabled by Visa's digital payment network. This integration extended our reach to 11 billion cards, bank accounts, and digital wallets across 195+ countries, enabling ReadyRemit and Latitude clients to reach over 90% of the world’s population.  

Navigator by Brightwell continues to thrive in the maritime industry, serving over 680,000 cruise employees with reliable payroll and remittance services. In 2024, we introduced key product enhancements like push-to-card payments and expanded send to bank account options. We continued our collaboration with trusted providers like Western Union, Convera, and Corepay, ensuring our users have more flexibility and choice when sending money home.

This growth and innovation have driven Brightwell to new heights. This year, we nearly doubled our team, growing to over 160 employees worldwide. Headquartered in Atlanta, our team now extends to Gainesville, Florida and international locations including Cyprus, Serbia, and the Philippines. In April, we welcomed new teammates from Three Five Two, bolstering our product, engineering, and marketing teams while establishing an in-house design department.

Celebrating achievements

In 2024, Brightwell received significant recognition for our contributions to the payments industry and financial technology innovation. We were honored as a Top Workplace by the Atlanta Journal-Constitution for a sixth consecutive year, reflecting our commitment to fostering a supportive and collaborative company culture. Additionally, the Association for Corporate Growth ranked Brightwell #4 out of 20 companies in the upper-middle-market category of Georgia’s fastest-growing companies. Globally, we were named one of the Most Promising Cross-Border Payments Companies by FXC Intelligence, joining an elite group of just 24 worldwide and only four from North America.

The road ahead: trends shaping cross-border payments

The payments industry has experienced remarkable growth in recent years and is poised for continued transformation as we move into 2025. Several trends are expected to shape the future.

• Faster, more transparent transactions: Digital wallets and real-time payment systems are setting new standards for speed and convenience, driven by growing consumer demand and developing cross-border payment projects like Target Instant Payment Settlement (TIPS), Unified Payments Interface (UPI), and FedNow (The Paypers, 2024).

• AI and automation: From real-time transaction monitoring to payment optimization, artificial intelligence is reshaping how companies deliver secure and efficient financial services to enhance consumer trust and minimize financial losses (The Paypers, 2024).

• Regulatory changes: Frameworks like Europe’s PSD3 are prioritizing consumer protection and transparency in cross-border transactions, creating challenges and opportunities for businesses (ecommpay, 2024).

• Emerging payment technologies: The adoption of digital currencies and new payment technologies continue to rise. Projections estimate 4.8 billion digital wallets in 2025, representing over half the world’s population (FinTech Magazine, 2024). Central Bank Digital Currencies (CBDCs) are also gaining momentum, with a recent BIS survey suggesting that nearly 60% of central banks are exploring their potential to enhance global payment efficiency.

• Market expansion: According to a BCC Publishing report, the cross-border payments market is forecasted to grow to $238.8 trillion by 2027 at a compound annual growth rate (CAGR) of 5.3% since 2022.  

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Gearing up for 2025 and beyond

As we celebrate a year of transformative growth and innovation, we extend our gratitude to our dedicated team, trusted partners, and the communities we serve. Looking ahead, Brightwell is committed to transforming the future of cross-border payments and addressing the evolving needs of businesses and individuals worldwide. Together, we’re building a more connected, inclusive financial world—one that empowers businesses, supports families, and drives global economic growth.