Brightwell enables cross-border remittances integration

Brightwell has launched a cross-border payments solution powered by The Bancorp Bank and Mastercard to enable fintechs to integrate cross-border remittances

Brightwell has launched a cross-border payments solution powered by The Bancorp Bank and Mastercard to enable fintechs to integrate cross-border remittances. The solution, ReadyRemit, gives fintechs, businesses, and programme managers the option of increasing their revenue and loyalty by offering a user-friendly, cross-border payments solution that also features capabilities related to compliance.

Through this partnership, customers will be enabled to access funds, including, where available, near real-time and same-day service. ReadyRemit gives clients the option of accessing payments to more than 100 countries and 280,000 cash payout locations, and supports a multitude of delivery channels, such as banks accounts, mobile wallets, and cash-out locations, as well as payment types, be those B2B (business-to-business), B2P (business-to-person), P2P (peer-to-peer), and P2B (peer-to-business). Mastercard representatives have stated in the press release that their Cross-Border Services enable access to funds in a fast, smart, and simple manner no matter the time or the location, continuing to say that the partnership with Brightwell helps support a reliable and equitable payments experience that helps broaden financial access globally.

As per information provided in the Mastercard 2022 Borderless Payments Report, 42% of people globally have been making and receiving an increasing number of cross-border payments, as opposed to 2021, thus driving demand for a payments experience that is more frictionless, connected, and reliable. Additional ReadyRemit capabilities When it comes to cross-border payments, navigating regulations is time-consuming and ever-evolving; as such, ReadyRemit aims to provide to customers the technology components needed for powering a comprehensive compliance engine, alongside a customer-first experience aimed to help the service with being differentiated amid competition. Brightwell officials have stated that a multitude of fintechs and businesses are looking into adding remittances to their product in a wish to meet their global user base’s demands but are finding themselves held back by the challenges associated with existing options.

As such, through the partnership with The Bancorp Bank, N. A. , and Mastercard, the company aims to enable its customers to build a new revenue stream by providing low to no-code platform integrations that contain everything required for launching a global payments programme within a month.

Prepaid Technologies is a company within the prepaid industry that has sought cross-border payments services looking to meet its cardholders’ remittance needs and partnered with Brightwell to bring its ReadyRemit solution to market. When speaking on the partnership, Prepaid Technologies officials have stated that the solution offers both API for web users and fully functioning SDK for mobile apps, which enabled an easy integration with Brightwell’s technology and provided a solution to be deployed with ease for the company’s wide range of cardholders. Brightwell mission Brightwell is a US-based financial technology company looking to create products that enable people and businesses alike to send money in a secure manner across the globe through means of a cross-border payment products suite that is simple to use and easy to integrate with.


Nov 15, 2022 11:01
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