Brightwell Collaborates with Visa to Enable Payouts to Bank Accounts and Wallets
Becomes the first Visa-enablement platform provider in North America to offer all crossborder payment modalities enabled by Visa Direct.
ATLANTA – Jan. 17, 2024 – Global payments technology company Brightwell announces its most recent collaboration with Visa, a world leader in digital payments. Brightwell, a leading provider for cross-border global payments enablement, has implemented Visa Direct to enable payouts to eligible bank accounts and wallets around the world.
This makes Brightwell the first Visa-enablement platform provider in North America to offer all cross-border payment modalities enabled by Visa Direct, Visa’s digital payment network helping transform global money movement. Visa Direct provides reach to over 8.5 billion endpoints capacity including 3+ billion cards, 3+ billion accounts and 2.5 billion digital wallets1.
“The implementation of Visa Direct’s account and wallet payment capabilities expand sour network to more than 8.5B endpoints capability in 160 currencies,” said Larry Hipp, Brightwell Chief Executive Officer. “This gives Brightwell the ability to send money across borders to eligible cards, bank accounts and wallets around the world. Through our collaboration with Visa, we bring more payment options and reach to our banking, program manager and corporate clients.”
As banks and corporations are becoming increasingly global, they need reliable, cross-border payments solutions. Together with Visa Direct, Brightwell provides its clients with quick and easy global payments.
McKinsey’s 2023 Global Payments Report2 shows global payments revenue grew by double digits for the second consecutive year, reaching an all-time high of more than $2.2 trillion. The report also revealed instant payments are increasing.
“As the global payments industry continues to reach new markets, Visa remains focused on helping to foster innovation and support new payment experiences across the ecosystem,” said Yanilsa Gonzalez-Ore, North America head of Visa Direct. “Through this collaboration with Brightwell, we’re excited to extend Visa Direct’s vast reach to more consumers around the world, helping them quickly access via accounts and wallets as endpoints.”
About Brightwell
Driven by a passion for financial inclusion and empowerment, Atlanta-based financial technology company Brightwell is living out its mission to create products that help people and businesses send money securely across the globe. Brightwell's suite of cross-border payment products is simple to use, easy to integrate with and help our customers achieve measurable results. Processing and securing billions of dollars each year, Brightwell's products are trusted by businesses of all sizes – from startups to Fortune500. For more information, visit brightwell.com.
1 Based on data provided by wallet aggregators
2 This report is a collaborative effort by Luca Bionducci, Alessio Botta, Philip Bruno, Olivier Denecker, Carolyne Gathinji, Reema Jain, Marie-Claude Nadeau, and Bharath Sattanathan, representing views from McKinsey’s Banking Practice.
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