Brite launches Instant Bank Payment solution in Germany

By Gloria Methri

Brite Payments, an expert in instant bank payments, has launched its full solution in Germany. The Swedish FinTech enables instant account-to-account (A2A) payments and payouts, leveraging Europe’s open banking infrastructure.

The launch of the company’s instant bank payment solution in Germany marks its most significant market expansion to date. The expansion builds upon its strong presence in the Nordics, Baltics, and Benelux as it continues to expand across Europe.

“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,” said Lena Hackelöer, Founder and CEO of Brite Payments. “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.”

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 instant payment processing while mitigating fraud and eliminating chargebacks. The company’s ‘Single Sign’ capabilities allow consumers to complete payments up to 40% faster.

Brite relies upon its proprietary network, Brite Instant Payments Network (Brite IPN), for instant processing and to overcome the fragmentation currently present in Europe’s real-time payments landscape.

Digital auction platform Auctionet is one of the first companies to offer Brite Instant Payments in Germany. Auctionet users in Germany now benefit from a user-friendly and secure payment option, while the auction houses benefit from automatic reconciliation and other back-office processes that increase efficiency.

“Consumers now expect real-time interactions across all digital touchpoints and in all facets of their lives,” said Hackelöer. “Far from being a laggard, our recent research shows the German market has huge growth potential for instant bank payments, as consumers seek secure online payments without sacrificing convenience. Familiarity with bank transfer payment methods is already high, indicating a market that is primed for the adoption of our user-friendly instant payments.”