Brightwell, The Bancorp Bank, N.A., Mastercard Enable Fintechs to Integrate Remittances

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 percent 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 reportedly “supports several delivery channels (bank accounts, mobile wallets and cash-out locations) and payment types (B2B, B2P, P2P, and P2B).”

Vickie Van Meir, Senior Vice President, Debit, North America, Mastercard, stated:

“Our Cross-Border Services enable fast, smart and simple access to funds whenever and wherever you are. Our work with Brightwell supports a reliable, equitable payments experience, broadening financial access around the world.”

Navigating regulations of cross-border payments is time-consuming and ever-evolving. ReadyRemit provides the technology components “for customers to power a comprehensive compliance engine, along with a thoughtful customer-first experience to differentiate the service amid rising competition.”

Hal Ramakers, senior vice president of Brightwell noted.

“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. 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 the need for 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.”

Matt Frye, Chief Product Officer, Prepaid Technologies, commented:

“We partnered with Brightwell to bring its ReadyRemit solution to market for our Dash Payroll cardholders in need of remittance services. 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.”

Driven by a passion for financial inclusion and empowerment, Atlanta-based financial technology company Brightwell is “living out its mission to create products that help people and businesses send money securely across the globe.”

Brightwell’s suite of cross-border payment products “is simple to use, easy to integrate with and help our customers achieve measurable results.”

Processing and securing billions of dollars each year, Brightwell’s products “are trusted by businesses of all sizes – from startups to Fortune 500.”

Sponsored Links by DQ Promote



Send this to a friend