Swedish fintech, Brite Payments, is set to launch its new ‘one-step’ Single Sign payment option eliminating the use of card input or personal data.
Through its open banking system, Brite is speeding up the payment process for account to account (A2A) transactions, allowing customers to make payments in one authentication step.
Speaking to PaymentExpert last month, Brite CEO and Founder, Lena Hackelöer, spoke of the importance of instant bank payments and why “it isn’t as common as you might think”.
Helping to achieve Brite’s instant payment ambitions by cutting out long-standing card payment issues with increased cash flow for merchants, the new feature also aids the creation of ‘a more enriching customer experience’.
Speaking on the announcement, Hackelöer commented: “We are really proud to launch our ‘Single Sign’ feature to market. At Brite, we believe that the adoption of A2A payments is driven primarily by consumer convenience, allowing users to authenticate and pay instantly in just one step is a significant leap forward for our industry.”
According to Brite, Signal Sign has shown to help customer payments move 40% faster via the use of the new solution. Furthermore, users have the choice to use Brite’s mobile iframe or build their own flow on top of Brite’s APIs.
“Given that only top-of-mind information is required to make a payment, it will now be more convenient to use an account based payment method rather than a credit card,” Hackelöer continued.
“This achievement is an important milestone for our category of payments in its journey to reach its full potential.”
Brite’s ‘Single Sign’ is currently available for the majority of customers in the company’s core markets of Sweden, Finland, Estonia and the Netherlands.