Brite Payments, a solution provider for instant payments, has collaborated on an open banking initiative with SOFORT, a leading provider for online bank transfers in Europe. The launch is scheduled for July 2022. This collaboration will complement SOFORT’s bank transfer product with Brite Payment’s instant payout service.
Lena Hackelöer, CEO and founder of Brite Payments, stated, “We’re all very excited to launch our joint solution across some of the continent’s leading markets, where SOFORT is a highly popular payment solution with online shoppers. This prominence makes them the ideal partner for us. Combined with our instant payout technology, we can jointly provide a very convenient solution for consumers and merchants alike. Instant payments are the future of payments, and together with SOFORT, we want to finally anchor this technology in everyday life.”
Subsequently, after the launch, clients utilizing SOFORT’s platform will be enabled to select the solution and initiate Brite Payment’s advanced instant payout solution without further technical support, enabling them to distribute assets to customers in a few seconds.
This combined initiative, called “SOFORT Instant Payouts powered by BRITE,” enables clients to accelerate instant payouts via the currently active SOFORT Bank Transfer incorporation. This indicates there are zero requirements for time-consuming implementations, facilitating a faster “go to market.” Furthermore, Brite Payments will keep offering its unique instant payment solution for organizations apart from the SOFORT platform.
Wilko Klaassen, Managing Director SOFORT, said, “We are very proud to offer our SOFORT users instant payouts in a manner that complements our existing direct bank transfer product by establishing this unique partnership with Brite Payments. Instant payouts is a service for which we have seen a great need in the market for some time, and we are pleased to have found a solution as efficient and innovative as Brite’s. This additional service, ‘SOFORT Instant Payouts powered by BRITE’ is offering our partners and users the speed and convenience required within the e-commerce space.“
Read: Brite Payments to Introduce Single Sign for Instant Payment
