Brite Payments has announced the launch of Brite Instant Payments in Germany. The fast-growing Swedish fintech enables instant account-to-account (A2A) payments and payouts, leveraging Europe’s open banking infrastructure.
The launch of the company’s full solution in Germany marks its most significant market expansion to date, building upon its presence in the Nordics, Baltics and Benelux as it continues to expand across Europe.
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Lena Hackelöer, Founder & CEO, Brite Payments, said: “We now offer a complete solution to the German market, covering Instant Payments in addition to Instant Payouts, and can serve the needs of even more merchants and businesses. 2024 is the year that A2A payments, or Pay by Bank, looks set to enter mainstream consciousness, and as the EU’s most populous country and the third-largest economy in the world, Germany represents enormous untapped potential.”
Brite Payments is hopefuly Germany can be a big step in its expansion
Germany still faces macroeconomic headwinds and a weakened outlook, which for merchants and businesses has brought operational efficiency into sharp focus. Instant payments offer businesses across a diverse range of sectors a way to tackle operational inefficiencies while alleviating pain points associated with many legacy payment methods.
Brite’s open banking-first approach to instant A2A payments enables 24/7/365 instant payments processing while mitigating fraud and eliminating chargebacks. The company’s ‘Single Sign’ capabilities make it possible for consumers to complete payment up to 40% faster, using only top-of-mind information and circumventing the need for account creation or registration. Brite relies upon its own proprietary network, Brite Instant Payments Network (Brite IPN), for instant processing and to overcome the fragmentation that currently exists within Europe’s real-time payments landscape.
Hackelöer, added: “Consumers now expect real-time interactions across all digital touchpoints and in all facets of their lives. Far from being a laggard, our recent research shows the German market has huge growth potential for instant bank payments, as consumers seek online payments that are secure, without sacrificing convenience. Familiarity with bank transfer payment methods is already high, indicating a market that is primed for adoption of our user-friendly instant payments.”
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