News from the Wire

Brite Payments prepares for market expansion

Tuesday, May 17, 2022 — 12:37:07 (EDT)

Stockholm, May 17, 2022—Since its launch in 2019, the second-generation fintech company has benefited from its executive team’s wealth of expertise, making swift strides in the payments space, quickly amplifying its voice and making an impact in the industry.

Of particular note, is the company’s innovative ‘Single Sign’ feature, which combines two traditional authentication steps into a one-step instant bank payment process, offering customers the most straightforward instant bank payment method yet.

A proven solution, built with convenience, speed and transparency in mind, Brite Payments’ ‘Single Sign’ speeds up the payments deposit process by nearly 40 per cent, representing the next generation of instant bank payouts.

What’s more, Brite Payments’ innovative solutions, along with its attractive working culture and innate understanding of its customers, has drawn the attention of some of fintech’s biggest players, marked by the unique partnership with online banking giant, SOFORT.

Moving forward, the strategic partnership will enable merchants using the SOFORT platform to activate Brite Payments’ Instant Payout solution without additional technical effort, allowing them to disburse funds to consumers within seconds. This reflects the increasing appetite for easily-integrated, payment solutions, which facilitate improved consumer experiences across sectors.

As the company continues to expand across Europe, with the launch of its ‘Instant Pay-in’ service in Estonia this month, it further bolsters Brite Payments’ reach within the Baltic region, an area perfectly suited to the company’s open banking-based solution.

To further strengthen its expansion plans, the company has also recently embarked on a significant drive to acquire talent, both locally and internationally. This endeavour has been highly successful, with Brite Payments’ headcount growing by more than 100 per cent within the previous six months, with further increases expected imminently.

Speaking on the company’s performance over the previous 12 months, Lena Hackelöer, Founder and CEO of Brite Payments commented: “We are all very proud of what we have achieved as a business over the past year. The significant growth, both in our customer base and within our team, is incredibly rewarding, as has the feedback we continue to receive from customers using our solution daily.

“As we move forward, we will look to build this feedback into our development process and use our customers’ suggestions to further expand our solution’s reach.

“For years, I felt there was a growing need in the instant payment market for a business that could combine a strong instant payment offering, with an attractive consumer brand.

“With our solutions enhancing consumer experiences, particularly when it comes to convenience, we look forward to continued growth and reaching new customers in 2022 and beyond.”

For more information about Brite Payments, please visit: www.britepaymentgroup.com/

ENDS

About Brite Payments:

Brite Payments is a second generation FinTech based in Stockholm. The instant payments provider is leveraging Open Banking technology to process A2A payments in real-time between consumers and online merchants.

With Brite, no signup or credit card details are required as consumers authenticate themselves with top-of-mind details using their bank’s usual identification method. The company currently operates across 21 markets in Europe and is connected to more than 3,800 banks within the EU.

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Source: Company press release.