Brightwell launches new cross-border payments solution, ReadyRemit

By Edlyn Cardoza

Brightwell, an Atlanta-based global payments technology company, announced a new cross-border payments solution, Brightwell’s ReadyRemit, powered by The Bancorp Bank, N.A., and Mastercard’s Cross-Border Services. ReadyRemit allows FinTechs, businesses, and program managers to increase revenue and loyalty by offering a user-friendly, cross-border payments solution that also features compliance capabilities. The partnership will enable access to funds, including near real-time and same-day service where available.

According to Mastercard’s 2022 Borderless Payments Report, 42% of people globally are making or receiving more cross-border payments than 12 months ago, driving demand for a more frictionless, connected, and reliable payments experience. ReadyRemit gives clients access to payments to over 100 countries and 280,000 cash payout locations, including near real-time and same-day service (where available). The service supports several delivery channels (bank accounts, mobile wallets, and cash-out locations) and payment types (B2B, B2P, P2P, and P2B).

“Our Cross-Border Services enable fast, smart and simple access to funds whenever and wherever you are,” said Vickie Van Meir, Senior Vice President of Debit, North America, Mastercard. “Our work with Brightwell supports a reliable, equitable payments experience, broadening financial access around the world.”

ReadyRemit provides the technology components for customers to power a comprehensive compliance engine and a thoughtful customer-first experience to differentiate the service amid rising competition.

“Many fintechs and businesses are interested in adding remittances to their product to meet the demands of their global user base but are held back by the challenges surrounding existing options,” said Hal Ramakers, senior vice president of Brightwell. “Our partnership with The Bancorp Bank, N.A., and Mastercard will enable customers to build a new revenue stream by offering low-to no-code platform integrations containing everything needed to launch a global payments program in as little as 30 days.”

Prepaid Technologies, a pioneer of the prepaid industry with more than 50 years of electronic payments expertise, sought a cross-border payments service to meet its cardholders’ remittance needs. As a solution, Prepaid Technologies turned to ReadyRemit, powered by Brightwell’s international payments partners.

“We partnered with Brightwell to bring its ReadyRemit solution to market for our Dash Payroll cardholders in need of remittance services,” said Matt Frye, Chief Product Officer, Prepaid Technologies. “Built with the prepaid cardholder in mind, the ReadyRemit solution offers both an API for our web users and a fully functioning SDK for our mobile apps. This allows for a seamless integration with Brightwell’s technology and provides a solution we can deploy with ease for our wide range of cardholders.”