Brightwell partners with Visa to offer payouts to bank accounts & wallets
By Delisha Fernandes
Brightwell, a global payments technology company, has partnered with Visa, a world leader in digital payments, to enable payouts to eligible bank accounts and wallets around the world.
The collaboration makes Brightwell — a cross-border payment-focused FinTech — the first Visa-enablement platform provider in North America to offer all cross-border payment modalities provided by Visa Direct.
“The implementation of Visa Direct’s account and wallet payment capabilities expands our 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.”
Visa Direct provides reach to over 8.5 billion endpoints capacity including 3+ billion cards, 3+ billion accounts and 2.5 billion digital wallets. 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 Report 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.”
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