Visa and Brightwell team up for cross-border payments
By Leandra Monteiro
Global payments technology company, Brightwell, announced that it is making it easier for FinTechs, money transmitters, prepaid and banking providers to integrate real-time payment technology into their solutions utilising 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.
Brightwell is helping overcome the challenges of offering a near real-time payments program as FinTechs and payment providers look to modernise 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.
“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.”
“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.”
IBSi Daily News Analysis
June 01, 2023
With ECB nearing its launch, could Digital Euro become a reality?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage