Sweden-based instant payments fintech Brite Payments has 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 in a total of 24 markets across Europe, according to the press release. 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 reportedly facilitates the rapid receipt of funds from merchants to consumers through its payout 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 are key factors 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 improves the end user experience, Brite says. Additionally, Brite’s Time2Money feature reportedly ensures that users have full transparency and visibility into when they will receive their money, further helping build trust. According to Lena Hackelöer, Founder & CEO of Brite Payments, Croatia, Romania, and Hungary are among Europe's most dynamic and fast-growing markets, and they are also popular markets for established international businesses to expand into.

Brite Payments aims to provide fast, easy, and secure payments to merchants and consumers across Europe by including these countries in its coverage network. Brite Payments has become a preferred payment provider for businesses that prioritize seamless and transparent payments and payouts. Brite Payments has experienced significant growth over the past year, with revenue and transaction volume on its platform more than doubling, and headcount increasing by nearly 100 percent.

The company's recent expansion into new markets and currencies follows the full product rollout across the Baltic region, the press release concludes. More about Brite Payments The company took part in the 2022 edition of the Open Banking report. Here, The Paypers sat down with Brite Payments' founder and CEO, Lena Hackelöer, to discover how merchants benefit from Open Banking, the impact that customer experience has had on payment innovation, and what we can expect from the future.

We encourage you to download the report to read the whole interview. To find out more about the company, you can visit the company profile in our online database. .