Brite Payments launches instant payments and payouts in Denmark
By Gloria Methri
Brite Payments has expanded its product coverage in the Nordic region with the launch of open banking-powered instant payments and payouts in Denmark. With full product coverage in Sweden and Finland, the addition of Denmark further strengthens the second-generation FinTech’s footprint across Europe.
Denmark, with a population of nearly 6 million, has a highly-developed financial services sector. Online banking penetration in the country reached nearly 95% in 2022, close behind its Nordic neighbours and well ahead of the rest of Europe.
Much like Sweden, Denmark also has an established electronic personal identification system. These factors contribute to instant bank payments opportunity in the Danish market, although the retail payments landscape is still largely dominated by cards.
The launch of Brite Instant Payments in Denmark gives merchants and businesses across a wide range of industries and verticals a lower-cost alternative to cards. Brite’s open banking-first approach to account-to-account (A2A) payments also enables 24/7/365 instant payment processing while reducing fraud risks. The company’s ‘Single Sign’ capabilities make it possible for consumers to complete payments up to 40% faster, using top-of-mind information and circumventing the need for account creation or registration.
Brite Instant Payouts enable businesses to disburse payments – whether in the form of refunds, payouts, or withdrawals – in real time. Reliable and timely payouts are proving to be an increasingly important differentiator for businesses operating across diverse sectors, including digital marketplaces, consumer finance, online trading, travel, tickets, insurance, and gig work platforms.
“Denmark is primed for the uptake of instant bank payments, as awareness of the benefits continues to increase amongst merchants,” said Lena Hackelöer, Founder & CEO, Brite Payments. “The market is a logical next step in our expansion and we are excited to now offer instant payments and instant payouts to merchants and consumers in Denmark as well as our existing merchant base across Europe.”
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