Brite provides instant payment and payout solutions through open banking, allowing users to complete transactions directly from their bank accounts without the need for cards or apps. This technology enables fast, secure remittances and refunds, addressing the inefficiencies and delays commonly associated with traditional payment methods.
Funding
$71M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional online payment methods often involve cumbersome processes such as entering card details or creating accounts, leading to friction and potential drop-off during checkout. These methods can also be slow, and may not offer the level of security or transparency that customers and merchants desire.
Solution
Brite provides an open banking solution that enables instant payments and payouts directly from customers' bank accounts, eliminating the need for cards, apps, or sign-ups. By leveraging open banking APIs, Brite facilitates secure and seamless transactions between merchants and customers in real-time. This approach streamlines the payment process, reduces friction, and enhances security through bank-level authentication and encryption. Brite's network connects to over 3800 banks across Europe, enabling businesses to offer a fast, simple, and secure payment experience to a broad customer base. The platform supports both instant payments from customer to merchant and instant payouts from merchant to customer, covering a wide range of use cases from e-commerce purchases to loan disbursements and refunds.
Target Audience
Brite primarily targets merchants and businesses across Europe seeking to offer faster, more secure, and more convenient payment options to their customers, as well as consumers looking for a streamlined payment experience.
Features
- Instant payments and payouts via open banking APIs
- Direct bank account authorization for secure transactions
- No card details, app downloads, or sign-ups required for customers
- Connection to over 3800 banks across Europe
- Fully transparent payment process
- Instant Payment Network for fast transactions
- Highest encryption standards for fund protection
- 24/7, 365 days a year availability