A Chat with Lena Hackelöer, Founder and CEO at Instant Payments Provider: Brite Payments

Brite Payments is an instant payments provider head-quartered in Sweden, leveraging Open Banking technology to process A2A payments in real-time between consumers and online merchants. When using Brite payment services, no signup or credit card details are needed from consumers as they will authenticate themselves with only top-of-mind details using their bank’s usual identification method – creating a much smoother experience.

We currently operate across 21 markets in Europe and are connected to more than 3,800 banks within the EU, however this figure continues to grow as demand remains strong for quick, convenient payment methods.

 
 
Bigger, Brite-r Payments | Financial IT
 

What do you think makes this company unique?

 

We created Brite to introduce an instant payments business to the market which would be widely recognised among merchants, but crucially, engaging for consumers. Brite is always visible as a payment brand, meaning consumers make an active choice to pay or get paid with Brite, in contrast to other players in the open banking space. 

Our dedicated efforts to the consumer experience make us unique, and it is this approach which has driven some of our latest milestones including the partnership with online bank transfer giant, SOFORT.

 

 

How has the company evolved over the last couple of years?

 

There have been many significant developments at Brite since our creation in 2019. When we launched our product, we were a small team with operations in three markets, and in under four years we have grown to multiple European offices offering our services across 21 markets with significant growth projections for the remainder of the year.

Our first biggest milestone was receiving our license as a payments institute, allowing us to process payments and hold funds on behalf of our clients across Europe to support ease and convenience. This year we have seen significant evolution in the business already, with numerous milestones hit including the launch of our Single Sign solution, our aforementioned partnership with SOFORT and our newly launched recurring payments service. These developments have broadened the markets that we can support and to support these opportunities we have also accelerated our talent acquisition efforts.

 

What can we hope to see from Brite Payments in the future?

 

In the near future, we are working hard to establish operations within the many markets that we currently operate in. We will be hiring locally to develop deeper connections with our local customers and in the years ahead this will include the new markets that we are preparing to enter. We are always looking to grow our market coverage, and provide our evolving product offering to merchants across sectors.

Innovation is at the heart of everything we do, and we are excited to be launching new products for specific verticals throughout this year and beyond. The significant advantages that instant payments can facilitate across markets is clear, and Brite Payments will be demonstrating this as we continue driving our growth with a focus on merchant and consumer convenience.