Brightwell has announced that it has formed a new collaboration with Visa. Brightwell is a provider of cross-border global payments enablement and has implemented Visa Direct. This will now facilitate payouts to eligible bank accounts and wallets around the world.

This makes Brightwell the first Visa-enablement platform provider in North America to offer all cross-border payment modalities enabled by Visa Direct, Visa’s digital payment network helping improve global money movement. Visa Direct provides reach to over 8.5 billion endpoints capacity including over 3 billion cards, more than 3 billion accounts and 2.5 billion digital wallets.

Larry Hipp, Brightwell Chief Executive Officer, said: “The implementation of Visa Direct’s account and wallet payment capabilities expands our network to more than 8.5B endpoints capability in 160 currencies.” said Larry Hipp, Brightwell Chief Executive Officer. This gives Brightwell the ability to send money across borders to eligible cards, bank accounts and wallets around the world. Through our collaboration with Visa, we bring more payment options and reach to our banking, program manager and corporate clients.”

Brightwell to provide reliable cross-border payment solutions

As banks and corporations are becoming increasingly global, they need reliable, cross-border payment solutions. Together Visa Direct and Brightwell will endeavour to provide their clients with quick and easy global payments.

McKinsey’s 2023 Global Payments Report shows global payments revenue grew by double digits for the second consecutive year, reaching an all-time high of more than $2.2trn. The report also revealed instant payments are increasing.

Yanilsa Gonzalez-Ore, North America head of Visa Direct, commented: “As the global payments industry continues to reach new markets, Visa remains focused on helping to foster innovation and support new payment experiences across the ecosystem. Through this collaboration with Brightwell, we’re excited to extend Visa Direct’s vast reach to more consumers around the world, helping them quickly access via accounts and wallets as endpoints.”

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By GlobalData