Brite Payments announced its expansion for the full product coverage in the Baltic region with its launch of its instant pay-ins solution successfully in Estonia sometime earlier this year. The Open Banking framework has been utilized here by Brite Payments which shall facilitate the account-to-account (A2A) payments. This shall not require the need to input card and personal data on a repetitive basis by the clients. The Stockholm-based instant payments specialist will now offer its innovative instant pay-ins and pay-outs products in Estonia, Lithuania and Latvia.
This secure and simple pay-ins solution shall enable its customers to pay right from their bank account with a single step of authentication. Additionally, the convenient pay-outs solution shall provide a facility of the rapid receipt of funds from merchants to consumers in fields such as financial investment and insurance.
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The Baltic region, with an approximate population of six million, is now known as a fintech hotspot and is at the forefront of digitalization and to develop a technical infrastructure. Brite’s expansion step reflects an opportunity for the company to offer A2A payment products with which clients are not unknown and ready to adopt.Brite’s decision is followed by a period of strong demand for its unique and innovative solutions including the launch of its Single Sign product which proved to be very convenient to the users. On top of it it entered into a partnership with European’s payments giant, SOFORT which was also celebrated. The organization is on a growth trajectory with several recent strategic hires to support its upcoming market expansion plans.
The Baltics region has been already established by its clients with the transactions being doubled as compared to the last year and with this we can see Brite being motivated for its further expansion and growth models to offer solutions to local users.In addition to this regional expansion, Brite Payments is continuing to grow and diversify its product portfolio, with upcoming developments built on PSD2 APIs.
“We are really proud to announce that we now offer full coverage across the Baltic region, and are able to impactfully serve both local and Nordic merchants. This move represents another big stride forward in our mission to bring quick, easy and secure instant payments to customers and merchants across Europe,” said Lena Hackelöer, CEO & Founder, Brite Payments. “The Baltics have been on our radar since our inception in 2019 and we have been really pleased to see the population’s adoption of digital payments.” “Customer convenience is at the forefront of what we have created at Brite, and now with full product coverage in the Baltics, we will allow users to authenticate and pay instantly, as efficiently as possible,” she continued.