Brightwell , a US-based global payments technology company, has announced today the availability of ReadyRemit to enable fintechs to launch global payments programs. The booming global payments market The demand for cross-border remittance payments is growing exponentially.

In 2022, remittances to low-and-middle-income countries like India, Mexico, China and the Philippines are expected to reach USD 630 billion, a 4% increase from the previous year. However, capitalizing on the international remittance market is full of complications - including costly and time-consuming licensing, compliance, product development, marketing, support, technological infrastructure and risk management. As a result, traditional financial institutions and money transfer giants have long dominated the cross-border payments market.

ReadyRemit offerings Simple integration: On average, building a remittance infrastructure can take 6-9 months. ReadyRemit enables customers to build a new revenue stream quickly by offering low to no code platform integrations containing everything needed to launch a global payments program in as little as 30 days. Ongoing compliance and regulation coverage: Navigating regulations of cross-border payments is time-consuming and ever-evolving.

ReadyRemit provides the technology components that supports all global regulatory needs. Global connectivity: Connecting transactions globally can be challenging and expensive. Brightwell’s partnership facilitates payments to bank accounts, cash pickup or mobile wallets in more than 120 countries and nearly 280,000 cash payout locations.

Note Brightwell is a technology provider and not a bank or other regulated financial institution. All regulated services associated with ReadyRemit are provided by The Bancorp Bank. .