ATLANTA--(BUSINESS WIRE)--The cross-border payments space is experiencing exponential growth and is projected to reach $365 billion, globally, by 2032 with a 7.3% compound annual growth rate according to a recent report by Allied Market Research.
To address growing demand, global payments technology company Brightwell today announced the availability of Latitude, a platform that enables businesses to seamlessly deliver cross-border payments to their customers, tailored to their specific currency, location, and payment method.
Travel and hospitality brands routinely need to make one-off payments to a customer for various service disruptions, an often-complex process, particularly when the recipient resides in a different country. With Latitude, Brightwell is revolutionizing the landscape of cross-border payments within all industries where payouts are needed by providing better efficiency, enhanced convenience, and improved customer experience.
“Businesses across a variety of industries have made substantial investments in prioritizing the customer experience, striving to ensure safe, memorable, and seamless interactions. However, when service disruptions occur, the reimbursement process can be confusing, and time-consuming, and customers can be left feeling powerless over resolving their issue,” said Larry Hipp, Brightwell Chief Executive Officer. “Brightwell makes it easy for businesses to provide quick remediation to their valued customers in their modality of choice and deliver dependable, frictionless customer experiences.”
The solution is a fully managed program with no code needed, making it easy to get up and running in a matter of weeks. Customers receive a personalized URL link with multiple payout and currency options, giving customers flexibility and transparency into the reimbursement process and choice as to how they are paid.
Companies eager to match the same level of customer experience for payments that they’ve operationalized on the rest of their flows can now:
- Provide customers with the white-glove experience they expect with a fast, transparent resolution for outstanding reimbursements, available to 90% of the world's population.
- Minimize frustrating phone tag, endless email threads or back and forth customer discussions, along with labor-intensive tasks associated with cutting paper checks or administering international ACH transactions.
- Make a dramatic improvement over outmoded processes for corporate disbursements. Free employees’ time to prioritize other customer-facing duties.
For more information about Latitude, please visit www.brightwell.com/latitude
About Brightwell
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 solutions 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. For more information, visit brightwell.com.
Brightwell is a technology provider and not a bank or other regulated financial institution. All regulated international transfer services associated with Brightwell are provided by The Bancorp N.A. Terms and conditions apply.
