Brightwell is launching a new cross-border payments solution called ReadyRemit.Integrating ReadyRemit will enable Brightwell customers to help their end clients send money to 90% of the world’s population.The new tool is leveraging partnerships with Mastercard and The Bancorp Bank.
Payments technology company Brightwell unveiled its new cross-border payments solution today. The new offering, ReadyRemit, is a cross-border-payments-as-a-service tool.
Powered via partnerships with Mastercard and The Bancorp Bank, ReadyRemit will enable Brightwell’s business and fintech clients to offer their end customers a cross-border payments solution with built-in compliance capabilities. The new tool aims to be faster than traditional money transfer tools, taking place in near-real time or on the same day the transfer was initiated.
“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,” said Brightwell Senior Vice President Hal Ramakers.
ReadyRemit will enable Brightwell’s clients to send payments to 90% of the world’s population and to more than 100 countries. Clients can make a range of payment types, including B2B, B2P, P2P, and P2B, and send the funds to 280,000 cash payout locations, including bank accounts, mobile wallets, and cash-out locations.
“Our Cross-Border Services enable fast, smart, and simple access to funds whenever andwherever you are,” said Mastercard Senior Vice President, Debit, North America Vickie Van Meir.“Our work with Brightwell supports a reliable, equitable payments experience, broadeningfinancial access around the world.”
Brightwell offers a suite of payment products that includes a corporate expense program, global payroll service, an ATM program, fraud protection, and more. The company launched as a division of West Suburban Bank in Chicago, Illinois in 2009 under the name Prepaid Solutions. In 2011, the company split from West Suburban Bank, rebranded to Brightwell, and moved its headquarters location to Atlanta, Georgia.
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