Stockholm – 15 March, 2023 – Brite Payments, one of Sweden’s fastest growing fintechs and a leader in instant bank payments, has today announced expanded coverage across Central and Eastern Europe. Brite, which has built its instant account-to-account (A2A) payments offering on the European-wide open banking infrastructure, now offers its payouts solution in Croatia, Romania, and Hungary. The addition of these markets means that Brite now offers payouts coverage in a total of 24 markets across Europe.
Instant processing has become an important proposition within payments, most notably across markets within Europe that are undergoing rapid digital transformation in many parts of their economy. Brite’s expansion is a response to increased demand from international merchants as well as the opportunity to support businesses in these dynamic domestic markets.
Brite facilitates the rapid receipt of funds from merchants to consumers through its payouts solution, across diverse sectors, including eCommerce marketplaces, consumer finance, online trading, travel, ticketing, insurance, and gig work platforms.
Reliable and timely payouts in these sectors is a key factor in building trust with consumers. Immediate access to funds has become increasingly important for consumers, who are currently dealing with rising living costs and a challenging economic environment. Pairing fast payouts with the convenience and security of open banking further enhances the end user experience. Additionally, Brite’s unique Time2Money feature ensures that users have full transparency and visibility into exactly when they will receive their money, further helping to build trust.
“Croatia, Romania, and Hungary represent some of the Europe’s most dynamic and fast-growing markets, as well as being popular markets for expansion for established international businesses. By adding these countries to our network of payouts coverage, we take another step forward on our mission to bring fast, easy and secure payments to merchants and consumers across Europe,” said Lena Hackelöer, Founder & CEO, Brite Payments. “Brite has quickly become a payment provider of choice for many businesses that want to prioritise seamless and transparent payments and payouts.”
Expansion into new markets and currencies follows Brite’s tremendous growth over the past year, with the company more than doubling revenue and transaction volume on its platform, and increasing headcount by nearly 100 percent. The company’s most recent coverage expansion also follows its full product rollout across the Baltic region.
Brite Payments is a second-generation fintech based in Stockholm. The instant payments provider leverages open banking technology to process account-to-account (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 24 markets in Europe and is connected to more than 3,800 banks within the EU.