Brightwell Teams with Visa to Expand ReadyRemit’s International Real-Time Payment Capabilities for Customers

By utilizing Visa Direct through ReadyRemit, customers will be able to provide real-time push payments to over 3 billion cards globally

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ATLANTA, GA (March 28, 2023) — 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 global reach to eligible debit and prepaid cards, providing more choice 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.

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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 2026. Brightwell is helping overcome the challenges of offering a near real-time payments program as fintechs and payment providers look 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.

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“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.”

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“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.”

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Since introducing ReadyRemit to the market last year, Brightwell is helping organizations likeDash Solutions, Virgin Voyages, and inCruises move funds in over 175 countries. Powered byThe 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.

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To learn how ReadyRemit can help you quickly launch a global remittance program into your product, visit http://www.brightwell.com/readyremit.

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About Brightwell

Brightwell is an Atlanta-based payments technology company that provides financial products to send money securely anywhere in the world. Companies of all sizes use their software and APIs to increase revenue, mitigate risk, and reduce costs. Brightwell offers a remittance platform that is easy to integrate with using SDKs or APIs as well as an A.I. risk detection engine to help stay ahead of fraud attacks. Brightwell's mobile-first platform to pay global workers is another suite of financial tools that help to simplify personal finances for communities that are traditionally underserved in the marketplace. Driven by a passion for financial inclusion and empowerment, Brightwell is living out its mission to create products that help people across the globe feel more connected to and in control of their money. For more information, visit brightwell.com.

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Brightwell is a technology provider and not a bank or other regulated financial institution. All regulated services associated with ReadyRemit are provided by The Bancorp Bank, N.A.Terms and conditions apply.

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*Actual fund availability depends on receiving financial institution and region

**Visa Direct capability enabled through Brightwell's financial institution partner

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This press release was originally published by PR Newswire on March 28, 2023.